TRAVEL TECHNOLOGY,FEATURES AND ADVICE
Airwallex | December 16, 2022
Global fintech Airwallex is pleased to announce that it has been chosen by TripActions as the partner of choice for its global cross-border payments and FX needs to support TripActions Liquid, its corporate card and expense management solution.
With support from Airwallex’s global payments and banking infrastructure, TripActions can further streamline travel and expense management experiences for its customers across 130 markets by providing a seamless, cost-efficient way to convert and pay out funds in over 45 currencies.
“Identifying faster, easier, and safer ways to move and manage money is key for businesses that want to grow at scale. At Airwallex, this is exactly the pain point that we are building a solution for, TripActions is the modern day, all-in-one solution for corporate travel and expense, and we are pleased that we are able to support them and their ambition as they look to grow and expand their business globally.”
-Ravi Adusumilli, Global Head of Partnerships and General Manager, Americas at Airwallex.
TripActions aims to make travel and expense easy, and Airwallex’s vision to deliver better experiences and tech solutions aligns exactly with that goal, said Michael Sindicich, EVP and General Manager of TripActions Liquid. With Airwallex, we are now able to reimburse our customers’ international employees in their local currencies instantly or on the same day in many countries, and we’re excited to continue working together as we bring more innovative features to businesses everywhere.
Founded in Melbourne, Australia in 2015, Airwallex reported significant business growth in the last year, with revenues more than doubling year-over-year. In the US, Airwallex has also built steady traction, having experienced rapid customer growth, and having won “Startup of the Year” in this year’s US Fintech Awards. Today, the business operates with a still-growing team of 1,300 employees in 19 locations across Asia-Pacific, Europe, and North America.
Airwallex is the leading financial technology platform for modern businesses growing beyond borders. With one of the world’s most powerful payments and banking infrastructure, our technology empowers businesses of all sizes to accept payments, move money globally, and simplify their financial operations in a single platform. Established in 2015 in Melbourne, Australia, our purpose is to connect entrepreneurs, business builders, makers and creators with opportunities in every corner of the world. Today, Airwallex has a global footprint across Asia-Pacific, Europe, and North America.
TRAVEL TECHNOLOGY,AIRLINES AND AIRPORTS
Priceline | January 02, 2023
Priceline, a leading online travel agency in North America, announced an NDC agreement with British Airways and Iberia, part of the International Airlines Group (IAG).
Through the new distribution capability (NDC) partnership, Priceline customers will have access to the airline group's full fares and other services, such as choosing their seats and having their bags checked.
Priceline is excited to expand its valued partnership with IAG. The company said that its new connections to British Airways and Iberia would help it fulfill its mission of giving customers the best travel deals, whether traveling within the United States or to another country.
Iberia says the agreement with Priceline is a great chance to grow its partnership with one of the best travel agencies in North America through the NDC channel. Also, it will help the company reach a larger audience with Iberia's and British Airways products and the benefits of this model.
British Airways is happy about this announcement with Priceline and the great work they do to ensure their customers can use the NDC content and features, such as more price points and better self-service features. Priceline's parent company, Booking Holdings, is also a part of the new strategic partnership. It includes Agoda, which continues to improve its flight and connected trip offerings in the Asia-Pacific region.
Booking Holdings' subsidiary Priceline is a well-known start-up that combines cutting-edge technology with a meaningful mission. It gives its customers quick and easy access to the best deals on hotel rooms, flights, rental cars, vacation packages, and cruises so they can be present for the most critical moments.
TRAVEL TECHNOLOGY,INDUSTRY OUTLOOK
Regions Bank | December 06, 2022
Regions Bank on Monday announced the launch of a virtual commercial card solution to facilitate quick, easy and on-the-go business travel payments for the bank’s Treasury Management clients.Visa Commercial Pay, offered in collaboration with Visa, the world’s leader in digital payments, and Regions Commercial Card Services, is the latest in a series of enhancements Regions offers its business clients to better manage cash flow and streamline operations. Specifically, this solution enables businesses using a travel management vendor to centrally manage reservations such as air travel, hotel, rail and car rental. It creates a seamless integration option for the reservation process and can deliver enhanced data on employee travel, full spend visibility for all company travel, and automated expense reconciliation through unique virtual card numbers. Additionally, the solution allows business travelers to view all reservations in one place, along with real-time updates on trip expenses, all within the Visa Commercial Pay app.
Speed, convenience and ease-of-use are more important than ever, and Regions Bank takes a forward-looking approach toward connecting business clients with services that make managing money simpler and more intuitive, David LaPaglia, commercial card product and operations manager for Regions Bank. “The more we can make payments, cash flow and operations easier for our Treasury Management clients, the more time they can spend focusing on the core of their business and helping their companies succeed. Business travel is one area that can be particularly time consuming in terms of managing expenses and tracking charges. The Visa Commercial Pay Travel solution aims to fix that.
Recently, Regions launched another digital solution enabling Corporate Banking clients to send real-time payments through the RTP® network from The Clearing House. The new real-time payments service is part of Regions’ iTreasury platform, which offers a wide range of competitive financial management options for businesses through the bank’s Treasury Management division.
Further enhancements are planned, including an expansion of Visa Commercial Pay options beyond business travel support. In addition, Regions plans to launch Regions CashFlowIQSM in 2023. This new tool is being designed to improve cash flow for clients by providing seamless accounts payable, accounts receivable, invoicing, and business bill payment capabilities for small- and mid-sized businesses.
“Regions consistently looks for ways to meet the emerging needs of business clients and provide options that help them simplify operations and focus more on revenue-producing activities, We are committed to being an important resource, and our team is proud to now offer Visa Commercial Pay Travel while creating more enhancements to launch soon.”
-Bryan Ford, head of Treasury Management for Regions Bank.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $158 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,300 banking offices and more than 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.