For years, offline and online travel agencies alike have labored with inefficient payment processes to settle with travel suppliers. Now Amadeus and U.S. Bank have joined forces to deliver financial technology innovation that offers relief from reconciliation headaches and other business-to-business payment hassles for U.S. travel agencies.
As a result of the strategic alliance between Amadeus and U.S. Bank, America’s third largest commercial bank card issuer, Amadeus is launching Mastercard-branded Amadeus B2B Wallet in the U.S. This new virtual card solution that will enable its U.S. travel agency customers to save time, boost efficiency and improve their bottom lines.
According to Nicole Tackett, head of Strategy, Specialty Verticals and Partnerships for U.S. Bank Corporate Payment Systems, “Integrating with one of the largest travel distribution systems in the world allows us to enhance our offering to the travel and hospitality industry and bring exceptional new capabilities to Amadeus customers.”
Advocates say virtual cards can improve cash flow, reduce fraud risk, boost revenue share earned per transaction, slash the time spent reconciling payment invoices with booking files, and enable better control of travel spending.
“We are excited to offer our agency customers a virtual card that delivers greater spending control. The partnership with U.S. Bank and the rollout of the Amadeus B2B Wallet will provide a full cash management solution that maximizes savings and minimizes payment costs,” said Scott Alvis, chief marketing officer, Amadeus North America.
Amadeus B2B Wallet is currently being rolled out to select travel agencies in the U.S. now, with wider availability to follow in the coming months.
For more information about virtual card solutions and Amadeus B2B Wallet, you can read our announcement here.