Source: Ixaris
Today, B2B payments solutions provider Ixaris announces the launch of a range of payment products that will see Ixaris, with support from Visa in Europe, target the global travel sector with competitive travel payments offerings based on Ixaris’ award-winning virtual payments solutions.
Ixaris has long been a pioneer in virtual payments with a recognised strong pedigree in travel payments, in particular. With backing from Visa in Europe, a world leader in commercial payments, and with its own innovative virtual payments technology, Ixaris can offer the travel industry unrivalled opportunities to drive payments optimisation and cost efficiencies.
Ixaris research shows that the cost of payments for an average online travel agency (OTA) can amount to 20% of gross profits, substantially cutting into bottom line value. With payments now deemed a strategic priority for 84% of OTAs, but with 36% not knowing what payments actually cost them, it is clear that there is a tremendous untapped opportunity for Ixaris to exploit [statistics from: Ixaris Megatrends 2020 research, 2018*].
Aran Brown, Ixaris CEO said “We’re delighted to signal our intent to further challenge in the growing travel payments market with the support of Visa, whose backing is a strong endorsement of our travel strategy. We’re pleased that Visa Europe has cemented its confidence in our market-leading payments technology. Together we bring a range of payment solutions that offer best-in-class options for the most important travel use cases.”
Speaking on behalf of Visa, Helen Jones, Executive Director, Visa Business Solutions, said “Visa is committed to helping businesses of all sizes to make simple, secure, and seamless payments wherever possible. By working with Ixaris to provide virtual cards to the online travel agency industry, we can help Ixaris’ customers remove friction from a crucial stage of their business operations”
* Ixaris Megatrends 2020 research surveyed more than 100 travel industry experts with in depth interviews held with 18 leading travel executives from companies including Skyscanner, Airbnb and IATA.
Key findings:
• 44% - proportion of time spent managing payments by large travel firms
• 60% of travel firms want lower cost of transaction
• Yet 36% of travel firms surveyed don’t know what payments actually cost their business
• Payments is a strategic priority for 84% of respondents