Worldline and Visa launch virtual card solution for online travel agencies
Worldline has teamed up with Visa to create a virtual card solution for online travel agencies (OTAs). The OTA market is growing rapidly. This partnership is designed to meet the needs of players in the sector who want to keep pace with changes in their market by offering B2B virtual cards for faster, more secure payments.
FACTS
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Worldline has teamed up with Visa to develop a virtual card issuing solution specifically for online travel agencies.
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Online travel agencies will benefit from the combination of the two companies' fluid payment acceptance networks, which will optimise their cash flow and simplify payments to their suppliers.
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The online travel agency (OTA) market is growing rapidly, with increasing demand for innovative payment solutions.
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Analysts predict that travel and tourism will generate 76% of all online sales revenue by 2028.
CHALLENGES
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Meeting the needs of travel agencies: the partnership between Worldline and Visa aims to meet this demand by offering a B2B virtual card programme that enables OTAs to pay their suppliers more quickly and securely.
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Strengthening its market position: this initiative should also strengthen Worldline's position in the travel agency payments market, while generating sustainable growth in its turnover.
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Moving up the payment value chain: this strategic collaboration aims to broaden Worldline's scope beyond payment processing to include direct card issuing.
MARKET PERSPECTIVE
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A year after announcing talks to set up a joint venture, Crédit Agricole and Worldline announced the creation of CAWL, a payment solutions company aimed at becoming a French leader in merchant payments.
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On the Visa side, Visa acquired Tink in 2021. Since then, the American giant has relied on the European fintech to roll out Visa Open Banking Solutions, with the ambition of competing with the open banking market in the United States. Less regulated than in Europe, this market offers opportunities that Visa is keen to explore.