Barclaycard has announced a partnership with Amadeus, a provider of business and booking solutions for the global travel/airline industry, to integrate Precisionpay into Amadeus’ B2B wallet payment option.
The technology allows businesses to generate single-use digital cards, providing the merchant with more control and oversight on customer spending.
Bart Tompkins, Managing Director of 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 cash flow.”
Each card is linked to a single specific purchase, meaning transactions can be settled easier with the aim of ultimately saving finance teams time and effort in comparison to traditional methods.
Barclaycard noted that another “advantage” of Precisionpay is the ability to pay suppliers up-front without affecting transactional processes or tying up important capital.
“While cash flow 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,” said David Price, managing director of client coverage at Barclaycard.
“This integration with Amadeus will be another way to help travel agencies take control of their cashflow and become even more competitive.”
In the announcement, Amadeus said that travel agency Flight Centre, specialising in flights, holidays and tailor-made journeys, is the first firm to adopt the new payments technology.
Adam Murray, chief financial officer of Flight Centre Travel Group, 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.”
Barclaycard recently announced the integration of Precisionpay into SAP Ariba solutions.