10 Minutes News for Hoteliers 10 Minutes News for Hoteliers
  • Top News
  • Posts
    • CSR and Sustainability
    • Events
    • Hotel Openings
    • Hotel Operations
    • Human Resources
    • Innovation
    • Market Trends
    • Marketing
    • Mergers & Acquisitions
    • Regulatory and Legal Affairs
    • Revenue Management
  • 🎙️ Podcast
  • 👉 Sign-up
  • 🌎 Languages
    • 🇫🇷 French
    • 🇩🇪 German
    • 🇮🇹 Italian
    • 🇪🇸 Spain
  • 📰 Columns
  • About us
10 Minutes News for Hoteliers 10 Minutes News for Hoteliers
  • Top News
  • Posts
    • CSR and Sustainability
    • Events
    • Hotel Openings
    • Hotel Operations
    • Human Resources
    • Innovation
    • Market Trends
    • Marketing
    • Mergers & Acquisitions
    • Regulatory and Legal Affairs
    • Revenue Management
  • 🎙️ Podcast
  • 👉 Sign-up
  • 🌎 Languages
    • 🇫🇷 French
    • 🇩🇪 German
    • 🇮🇹 Italian
    • 🇪🇸 Spain
  • 📰 Columns
  • About us

TerraPay urges non-adopters of virtual…

  • Travel Weekly Group Ltd
  • 23 May 2025
  • 2 minute read
Total
0
Shares
0
0
0

This article was written by Travolution. Click here to read the original article

image

Global payment provider TerraPay is urging the 35% of travel businesses that currently don’t accept virtual cards to reconsider their payment strategies.

The company is warning that outdated systems and reliance on traditional banking are putting many operators at a disadvantage in the rapidly evolving digital marketplace.

Koert Grasveld, Vice President of Travel Payments at TerraPay said “Small property owners often struggle with managing international payments due to limited access to advanced digital tools and the high costs associated with traditional banking systems.

“These challenges include slow transaction times, high fees, and complex processes that hinder cash flow and create barriers to competing effectively on a global scale. 

“For many small-scale operators – especially those managing just one or a few properties – these inefficiencies can significantly impact their ability to capture and serve international guests smoothly.”

Grasveld points to virtual cards and other modern payment tools as a viable alternative that can simplify cross-border transactions and reduce dependence on legacy infrastructure. 

“These platforms enable instant, secure, and cost-effective transfers, often bypassing intermediaries that add delays and extra costs,” he said. 

 “By adopting virtual payments, small property owners can streamline financial operations, improve cash flow management, and unlock new opportunities to grow in an increasingly global and digital travel economy.”

Trending
Booking.com CEO suggests lottery system to curb overtourism

Despite the growing shift toward digital transactions, many small hotel and boutique property managers still rely on slow and costly SWIFT-based systems. 

This creates friction and operational delays that disproportionately affect smaller players, especially in regions where virtual card infrastructure is underdeveloped or non-existent.

Grasveld explains that this gap can be bridged by offering a more streamlined cross-border payment solution – one that reduces fees, shortens settlement times, and improves accessibility. 

He said this is particularly crucial in regions where mobile wallets have leapfrogged traditional banks, and businesses need more agile, tech-enabled solutions to stay competitive.

In markets like Asia, where many individuals and businesses do not have bank accounts but rely heavily on mobile wallets, integrating directly with local financial ecosystems allows providers like TerraPay to eliminate traditional intermediaries and deliver fast, secure transfers – with no bank account required.

The same technology is also enabling airlines and online travel agencies (OTAs) to deliver instant payouts to travellers to cover urgent expenses such as food and drinks or hotel accommodation – without the delays or limitations of traditional card-based systems.

Please click here to access the full original article.

Total
0
Shares
Share 0
Tweet 0
Pin it 0
You should like too
View Post
  • Categorizing...

Sabre launches AI-ready APIs

  • Travel Weekly Group Ltd
  • 1 October 2025
View Post
  • Categorizing...

Guest Post: Influencers are ‘perfectly’…

  • Travel Weekly Group Ltd
  • 1 October 2025
View Post
  • Categorizing...

DoorDash launches its own fleet of delivery robots, smart hardware, and more

  • Joanna Fantozzi
  • 30 September 2025
View Post
  • Categorizing...

Real Talk: It’s Time to Support the People Who Feed Us

  • YiTyng.Sin@informa.com
  • 30 September 2025
View Post
  • Categorizing...

What is experiential travel? Tips for hoteliers

  • Jessica Freedman
  • 25 September 2025
View Post
  • Categorizing...

Bahia Principe Grand Tequila to Open in Mexico’s Riviera Maya Later This Year

  • Automatic
  • 25 September 2025
View Post
  • Categorizing...

Drury Hotels Opens New Hotel in Pigeon Forge, Tennessee

  • Automatic
  • 25 September 2025
View Post
  • Categorizing...

Kimpton Grand Roatán Celebrates Appointment of Rudy Morales as Director of Food & Beverage

  • Automatic
  • 25 September 2025
Sponsored Posts
  • Winning the World Cup of Demand: A Revenue Management Playbook for Major Events – LodgIQ

    View Post
  • The Practical Guide to Hotel Automation

    View Post
  • 2025 SOCIETIES Quaterly 3

    View Post
Latest Posts
  • RateGain Launches SoHo: AI-Powered Social Platform Designed to Redefine Hotel Guest Engagement
    • 6 October 2025
  • Building Trust & The Network Effect in Hospitality – Andrew Arthurs
    • 5 October 2025
  • What I Learned About “Speaking Owner” as a Hotel GM – Shanell Marinuzzi
    • 4 October 2025
  • 7 powerful shifts driving the Middle East’s travel boom
    • 4 October 2025
  • The five developments driving the evolution of U.S. OTAs
    • 4 October 2025
Sponsors
  • Winning the World Cup of Demand: A Revenue Management Playbook for Major Events – LodgIQ
  • The Practical Guide to Hotel Automation
  • 2025 SOCIETIES Quaterly 3
Contact informations

contact@10minutes.news

Advertise with us
Contact Marjolaine to learn more: marjolaine@wearepragmatik.com
Press release
pr@10minutes.news
10 Minutes News for Hoteliers 10 Minutes News for Hoteliers
  • Top News
  • Posts
  • 🎙️ Podcast
  • 👉 Sign-up
  • 🌎 Languages
  • 📰 Columns
  • About us
Discover the best of international hotel news. Categorized, and sign-up to the newsletter

Input your search keywords and press Enter.