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Imagine reconciling hundreds or thousands of payments made to different suppliers from a single credit card at the end of the month.
It is a labour-intensive task, one that is prone to human error.
With that in mind, Barclaycard and Amadeus are partnering to integrate Barclaycard’s virtual cards offering, Precisionpay, into Amadeus’ business-to-business Wallet payment solution.
Virtual cards are a fast, secure and convenient way to manage supplier payments.
The technology allows businesses to generate single-use digital cards, providing greater control and oversight of spend.
Because each card is linked to a specific purchase, transactions can be automatically reconciled, saving finance teams huge amounts of time and effort compared to traditional methods.
Another advantage of Precisionpay, similar to a standard corporate credit card, is the ability to pay suppliers up-front without affecting cashflow or tying up important capital.
This can help customers build stronger relationships with their suppliers.
Bart Tompkins, managing director, payments, Amadeus, said: “Payments is not a one-size-fits all business.
“That’s why we developed the business-to-business Wallet concept, which gives travel agencies access to a range of different payment options in a single link.
“The addition of Barclaycard brings greater choice and deepens our credit offer, enabling our travel agencies to better manage their cashflow.”
One Amadeus customer that has already benefited from the integration is Flight Centre, a travel agency with over 80 UK high street stores, specialising in flights, holidays and tailor-made journeys.
Adam Murray, chief financial officer, Flight Centre Travel Group, UK, said: “Using the Amadeus business-to-business wallet with Barclaycard allows our agents to pay for all spend types through a streamlined process.”
Source: breakingtravelnews.com
