Cross-border payment company, Nium, has joined forces with B2B travel and hospitality marketplace, HyperGuest, to simplify payment processes across the client network.
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 host of travel partners, hotels and other accommodation providers globally.
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 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 more than 20 local currencies worldwide, will expand HyperGuest’s ability to connect and transact with its network of global partners, streamlining complex payment workflows and eliminating traditional bottlenecks.
Independent hotels and chains on the HyperGuest platform will benefit from automated reconciliation and faster settlement, reducing fraud and improving cash flow.
For travel distributors and merchants, improved acceptance and reduced payment costs enable increased collaboration with hotel and accommodation partners.
“In a short period, 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.”
