Nuvei | January 20, 2021
Nuvei, the payment technology partner of flourishing brands, announces report and overview of "Redefining travel payments in the post-COVID-19 era," a white paper report and survey pinpointing growth strategies for travel operators in the aftermath of the pandemic, driven by payment technology. Created as a team with Edgar, Dunn and Company ("EDC"), with investment from Visa, this far reaching study contains information, experiences and noteworthy insight for the travel area as it designs its 2021 rebound, including the basic significance of a computerized first system, the best and innovative payment models to receive, and what authoritative changes could all the more quickly catalyze growth opportunities.
The COVID-19 pandemic and its connected isolates and travel limitations significantly affected travel industry income all through 2020, leaving related organizations looking for arrangements. The new arrival of antibodies has flagged a promising end to current circumstances, furnishing travel administrators with the certainty to set their rebound strategies in motion. It was considering this that Nuvei got together with EDC, an autonomous, worldwide technique counseling firm having some expertise in payments and computerized monetary administrations, to deliver "Redefining travel payments in the post-COVID-19 era."
The report includes top to bottom experiences into current industry problem areas and payment-related answers for the future, interviews with top aircrafts and online travel specialists and an industry-wide review directed among September and November 2020, just as examination of the outcomes. It features changing client assumptions that require new methodologies for progress, including utilizing payment technology to a more noteworthy degree than previously and intended to support merchants in their recovery.
Jewish National Fund | May 13, 2020
The Jewish National Fund USA (JNF), just launched virtual tours, taking people to Israel and showing them iconic places.
People buy seats on virtual buses, they have a professional tour guide all via Zoom.
Business Bureau consistently award Jewish National Fund with their highest ratings, indicating the organization’s trustworthiness and fiscal responsibility.
Since the stay-at-home orders have been put in place so many of us have canceled our travel plans, domestically and internationally.
In fact, according to the World Tourism Organization, international tourism could decline by 60-80% over the entire year and that means billions of dollars in lost revenue. However, some San Diegans are finding different ways to travel.
The Jewish National Fund USA (JNF), just launched virtual tours, taking people to Israel and showing them iconic places like the Old City of Jerusalem, the Dead Sea and much more.
Here's how it works
People buy seats on virtual buses, they have a professional tour guide all via Zoom. Just last week, a San Diego group finished their five-day virtual trip. JNF board member, Lauren Lizerbram, and her husband Sol, who is the national president of JNF, experienced the virtual trip.
It's really really a fun, exciting, emotional, motivating trip. It was a fabulous idea. It really took off beyond our wildest expectations and, like I said, we have over 700 people signed up. We really want to support these licensed tour guides in Israel
The five-day experience is $50. All of the money goes to the tour guides in Israel who aren't working right now. The virtual tours are an hour a day. Seven hundred people have already registered.
Learn More: WHAT POSITIVE TRAVEL TRENDS COULD COME FROM CORONAVIRUS?
TripActions | October 14, 2021
In less than a year, TripActions has secured a second massive funding round – this time $275 million in Series F growth funding.
The round was led by Greenoaks Capital with participation from prior investors Elad Gil, Base Partners and all key existing financial investors and values TripActions at $7.25 billion on a post-money basis.
The funding comes less than nine months after TripActions' Series E round of $155 million in January. The travel management company's total funding to date is nearly $1.3 billion.
Is an IPO coming soon for the six-year-old company? Michael Sindicich, general manager of TripActions Liquid, the company’s payment and expense management solution, says while an IPO would be a “natural fundraising opportunity and another milestone in our growth,” it is not planned for the near future.
“We’ve got quite a lot of cash. We’re making great revenue. We are not in any rush to take the company public at this time,” Sindicich says. The vote of confidence from investors, he says, confirms TripActions’ belief that travel and expense management is “ripe for a tech makeover.”
Despite the global impact of COVID-19 on travel, TripActions says it has now exceeded pre-pandemic levels in terms of bookings and revenue and has more than doubled its aggregate travel budget under management from February 2020 through the end of July this year.
The gains are due in part to a focus on acquiring new enterprise customers, targeted with the launch of TripActions Enterprise Edition in September 2020. Clients include Heineken, Crate & Barrel, Snowflake, Thomson Reuters and Adobe.
“We were there for these customers, they were switching from legacy travel agencies and booking tools, legacy expense platforms, because we were innovating, we were supporting, we were adapting to the way the new world would operate moving forward and that gave them a lot of confidence to actually make a change.”
Michael Sindicich, general manager of TripActions
Also adding fuel to TripActions' growth in the last 18 months: the launch of Liquid in February 2020, first as a payment solution and then in October 2020 adding expense management tools.
Sindicich says transaction volume is similar for Liquid as for core travel, and more than 90% of the new companies TripActions is bringing onboard use its full suite of solutions for corporate travel, expense, spend and payment management.
“Seventy-percent of expenses happen while employees are on trips,” he says.
“So we’re learning about the power of the end-to-end solution. We built Liquid as a separate team in the beginning... and are now seeing that both platforms together, it’s a one-plus-one-equals-three type of situation.”
Along with continuing to develop these products, TripActions will accelerate development of Lemonade, its personal travel booking solution that launched in October 2020. Lemonade gives employees at TripActions’ client companies’ access to negotiated rates and exclusive deals, notifications about COVID requirements and around-the-clock support for their leisure trips.
The company is also continuing to develop TripActions Team Travel, a self-serve solution that launched in June to facilitate gatherings of distributed employees. Earlier this month it added support for meetings and events to Team Travel, leveraging the capabilities it gained with its acquisition of Reed & Mackay in May.
TripActions will also add staff globally, expand its efforts in Europe, the Middle East and Africa – Europe now represents 30% of TripActions’ business - and, says Sindicich, continue to look for merger and acquisition opportunities.
“We’re always looking for companies that would make sense to acquire and work with and add to the portfolio so this could be another deployment of this capital as well,” he says.
“There’s not a prospect we are announcing or have in mind right now, but it would be natural for us to also look at other opportunities as well since we see Reed & Mackay is working so well for us.”