A virtual payment card service aimed at helping the travel sector improve control and efficiency of payments is being unveiled at World Travel Market.
Payments solution provider Ixaris has launched Opn Payment Partner, an application that automates and controls payment processing, allowing businesses to track purchasing activity and better manage cash flow.
Opn Payment Partner claims to allow companies to choose from a range of card types to bypass high merchant surcharges on select transactions.
The solution also saves companies from incurring foreign exchange fees as cards can be issued in either sterling or euro currencies.
Travel companies can create single-use virtual Visa or MasterCard cards to save money and improve their processes when purchasing tickets and booking travel services for clients.
Opn Payment Partner can also be used to support firms that take commission but pass on the remainder of the customer payment to parties such as hotels and car hire companies.
Chief executive Alex Mifsud said: “Over the last few months we have worked closely with the industry to develop this payment application so that it not only simplifies payment processes to deliver back-office savings, but also helps travel companies to transform their payment processes into opportunities that generate revenues, increase margins and improve cash-flow.
“Some of the leading European online travel companies are among the early adopters of Ixaris’ payment solutions and Opn Payment Partner has a range of uses that we are already offering to our first travel customers.”