This partnership will enhance payment efficiency and security
for HyperGuest's global network of travel and accommodation
partners with Nium's virtual card solution
LONDON, Nov. 5, 2024
/PRNewswire/ -- Nium, the leading global infrastructure for
real-time cross-border payments, today announced a strategic
partnership with HyperGuest, a premier B2B marketplace for the
travel and hospitality industry. This collaboration brings together
Nium's advanced virtual card payment solution with
HyperGuest's innovative travel distribution platform to deliver
greater efficiency, speed, and security in payments for
HyperGuest's network of travel partners, hotels, and other
accommodation providers around the world.
Payment failures, fraud, and inefficiencies are especially
prevalent in B2B hotel transactions due to factors like high
transaction volumes and tech incompatibility between payment
systems. Many aggregators and online travel agencies are making
payments to hotels through legacy banking systems and card
networks, where transactions can stall for days or weeks with no
visibility into status.
The integration of Nium's virtual card solution into
HyperGuest's platform will facilitate faster, more secure, and
transparent payments for travel businesses globally. Nium virtual
cards, known for real-time local issuance in over 20 local
currencies worldwide, will enhance HyperGuest's ability to connect
and transact with its expansive network of global partners,
streamlining complex payment workflows and eliminating traditional
bottlenecks.
Independent hotels and chains on the HyperGuest platform will
benefit from automated reconciliaiton and faster settlement,
reducing fraud and improving cash flow to unlock working capital.
For travel distributors and merchants, improved acceptance and
reduced payment costs enable increased collaboration with hotel and
accommodation partners.
"In a short period of time, Nium's innovative virtual card
solution has enabled us to increase payment volumes and offer more
choice, flexibility, and control for travel partners and hotels in
our network," said Amit Rahav,
Chief Product & Strategy Officer and Co-founder at
HyperGuest. "By removing the middleman from the payment
journey, Nium is helping us to create a fairer travel payments
landscape, streamlining the process to ensure secure,
cost-effective, and timely payments for participants across the
entire value chain."
The partnership arrives at a pivotal time as the global travel
industry adapts to new operational challenges and the growing
demand for digital-first financial solutions. Together, Nium and
HyperGuest are set to redefine payment processes in the B2B travel
ecosystem, helping businesses remain competitive and resilient in
an evolving marketplace.
"Our partnership with HyperGuest underscores Nium's commitment
to meeting the evolving needs of the travel industry with simpler,
faster, and more efficient payments on a global scale," said
Max Lehmann, Senior Vice President
of Travel Payments at Nium. "We are excited to grow our
partnership with HyperGuest, delivering the benefits of our
cutting-edge virtual card solution to more hotels and accommodation
providers around the world. At the heart of it, it's about
unlocking new opportunities for travelers by enabling hotels to
focus on what they do best; delivering exceptional guest
experiences."
To find out more about how modern payment methods like virtual
cards control and shape the booking experience, the specific
advantages for hotels and intermediaries, and the wide horizon of
new products that these capabilities create, click here.
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