Worldline has announced a strategic partnership with Visa to launch its first-ever virtual card issuing solution for the Online Travel Agency (OTA) market.
The initiative marks the first-time Worldline has ventured into direct card issuance. The project will focus on the Online Travel Agency (OTA) market, aiming to streamline cash flow for OTAs by combining the parties’ acceptance networks and seamless payouts.
Worldline’s existing portfolio in travel and a high demand for this solution in the industry have driven the decision to focus on OTAs.
Guillaume Tournand, VP of Growth at Worldline Merchant Services, said: “We are delighted to announce this significant partnership with Visa, a global influential and respected brand. It will transform the way online travel agencies handle payments by offering a unified solution that combines payment performance and cost effectiveness.
“By leveraging our strong travel footprint, this initiative unlocks significant market expansion for Worldline, propelling us as the leading payment solution for travel agencies and driving sustainable revenue growth.”
According to Statista, Industry analysts expect travel and tourism to generate 76% of all revenues from online sales by 2028. Additionally, the entire travel industry is expected to reach $1.74trn in volume by 2026, according to PhocusWright data.
With OTAs currently representing 40% of the industry, Worldline believes that it can further optimise their business as virtual cards play an integral part in operational procedures.
Through Visa, Worldline will provide OTAs with access to a dedicated B2B virtual card programme, allowing them to pay suppliers in a safe and faster way.
Visa made waves in the blockchain ecosystem last month. The payment giant launched ‘Onchain Analytics Dashboard’ in collaboration with blockchain data provider Allium Labs, in a bid to provide transparency and accessibility to blockchain data.
Ed Chandler, Senior Vice President at Visa Commercial and Money Movement Solutions, commented: “At Visa, we obsess about working with partners to deliver innovative, secure and reliable payment solutions. We are excited to partner with Worldline, to streamline, unify and enhance how online travel agencies are paid and pay their suppliers seamlessly.”
