Mangopay has announced a partnership to enhance the payments process for Travelnest, a leading holiday rental platform.
Under the agreement, Mangopay will offer Travelnest payment integrations, including multi-currency support. This solution aims to streamline the fund flow between booking platforms and guests, boosting efficiency and cutting costs for the platform.
Given that Travelnest connects property owners to more than 30 global booking sites – such as Airbnb, Booking.com and Expedia – this multi-currency feature will prove to be particularly valuable.
Alex Taylor, Head of Sales at Mangopay, commented: “We love working closely with clients to create innovative solutions that meet their specific needs. The flexibility of Mangopay’s solution means we are able to manage complex payment flows for Travelnest as they connect thousands of property owners with multiple booking platforms.
“Our technology is perfectly suited to fast-growth businesses in the travel and hospitality industry, and we look forward to playing a supporting role in Travelnest’s impressive growth story.”
With Mangopay’s wallet infrastructure, Travelnest will be able to create engaged communities, where users can securely manage their funds in one place. The system also features AI-driven fraud prevention seeking to ensure customer security.
Chris Brooks, Travelnest CFO, said: “Establishing and managing holiday rental properties can be a daunting task, and at Travelnest, we are here to help owners build and maintain a successful business while saving time and effort.
“Simplifying and streamlining the payment process forms a key part of the service we provide, and Mangopay has provided us with a solution that creates efficiencies and reduces costs. We are delighted with what we are able to achieve together with Mangopay and are excited about the benefits that this integration will bring to our business.”
Travel was a sector that Mangopay UK Managing Director, James Butland, highlighted in his article for Payment Expert last month. Butland explained that “the platform economy has never been more competitive”, adding that there is now increased integration between different verticals.
Butland also revealed how businesses are now becoming more like marketplaces and predicted the effect Generative AI will have on the financial services industry throughout the year and beyond. To read the full article, click HERE.
