Travel technology provider Amadeus has joined forces with Barclaycard to offer a virtual payment cards offering for travel agencies.
The firms say the Precisionpay technology allows businesses to generate single-use digital cards, “providing greater control and oversight of spend”.
Each card is linked to a specific purchase, meaning transactions can be automatically settled, which Amadeus says is designed to save finance teams’ time and reduce human error.
Precisionpay also allows travel agents to pay suppliers up-front without affecting cashflow or tying up their capital.
Amadeus said Flight Centre, which has more than 80 UK high street stores, is among the first firms to adopt the new payments technology.
Adam Murray, the agency’s chief financial officer, said: “As the payments are integrated in our core system, the B2B Wallet means we can implement new teams quickly and scale up across Europe as we expand.”
Bart Tompkins, managing director for payments at Amadeus, said: “Payments is not a one-size-fits all business. That’s why we developed the B2B 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.”
David Price, Barclaycard’s managing director of client coverage, added: “Since launching the UK’s first corporate credit card over 50 years ago, Barclaycard has been pushing the boundaries to create payment solutions that help make businesses more successful.
“While cashflow remains one of the main challenges for any growing business, we know that travel agencies in particular have an ongoing need to make up-front purchases before they themselves get paid. This integration with Amadeus will be another way to help travel agencies take control of their cashflow and become even more competitive.”
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