Historical Stock Chart
3 Months : From Aug 2019 to Nov 2019
SHANGHAI, Aug. 28, 2019 /PRNewswire/ -- Travelzoo® (NASDAQ: TZOO), a global publisher of exclusive offers and experiences for members, has announced a partnership with UnionPay International to create a direct-payment experience for Travelzoo members in China. UnionPay is the world's largest card-payment company with more than 7 billion cards issued globally. Its service network covers 174 countries and regions.
With this partnership, Travelzoo has simplified the payment process for its members in China by removing all third-party payment platforms. Travelzoo members can now pay directly through a dedicated channel with their UnionPay cards. Secondly, Travelzoo's Local Deals and Getaways offers will become accessible to UnionPay's users in China under the "UnionPay Exclusive Offer" category through location-based services (LBS) technology. UnionPay cardholders will receive a recommended Travelzoo deal close to where they are every time they use their UnionPay cards to make a purchase.
During the test period, traffic to Travelzoo's site increased by more than 20%, and Local Deals and Getaways revenue increased by approximately 60%.
"We are very excited by the benefits this partnership will bring to our members," said Scott Wang, General Manager of Travelzoo in Greater China. "Travelzoo inspires people to experience the world, and a direct-payment solution is essential to enable members to enjoy irresistible offers smoothly. With LBS technology, high-quality offers will be presented to more UnionPay users in the future, providing a great opportunity for us to encourage more consumers to join our Travelzoo family."
"Travelzoo is a trusted partner to UnionPay International because of its high-quality travel and entertainment offers, produced by a most rigorous and independent review process," commented Sheng Jinchun, General Manager of Product Development at UnionPay International. "We look forward to making it easy for both UnionPay users and Travelzoo members to make purchases and experience the world."
Travelzoo® provides our 28 million members insider deals and one-of-a-kind experiences personally reviewed by one of our deal experts around the globe. With more than 25 offices worldwide, we have our finger on the pulse of outstanding travel, entertainment, and lifestyle experiences. For over 15 years we have worked in partnership with more than 2,000 top travel suppliers—our long-standing relationships give Travelzoo members access to irresistible deals.
Certain statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include, but are not limited to, statements about our plans, objectives, expectations, prospects and intentions, markets in which we participate and other statements contained in this press release that are not historical facts. When used in this press release, the words "expect", "predict", "project", "anticipate", "believe", "estimate", "intend", "plan", "seek" and similar expressions are generally intended to identify forward-looking statements. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including changes in our plans, objectives, expectations, prospects and intentions and other factors discussed in our filings with the SEC. We cannot guarantee any future levels of activity, performance or achievements. Travelzoo undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
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