SUNRATE | January 10, 2023
SUNRATE, recognized as a leading financial solutions provider, collaborated with Visa, a world leader in digital payments. The partnership is to enhance the travel solutions offered by SUNRATE.
In the past, SUNRATE's stakeholders had only one way to pay for travel-related expenses with their travel partners. Now with the partnership, they will have a virtual corporate card that makes this process much easier and more streamlined.
SUNRATE, at the end of last year, shared news of a strategic alliance with Agoda, the world's largest online travel agency. In 2021, the company was accepted into the Visa network as a primary participant.
SUNRATE’S corporate cards will help its travel partners to have control over spending track and allocations. In addition, a corporate card will ensure the security of the transactions and the data for the users. Technologies like Application Programming Interfaces (APIs) have made it difficult for shared card information to be misused by imposing a time limit on each transaction.
The Payment Card Industry Data Security Standard (PCI DSS) Level 1 is an international standard for financial data security. SUNRATE has been certified to meet this standard.
"The launch of Visa virtual corporate cards is a monumental step for SUNRATE as we cement our leadership as a one-stop B2B payment partner, especially for the travel industry. Since our partnership announcement with Agoda, we have worked with many other travel stakeholders, including other OTAs and we take pride in being able to solve their overall business needs. The Visa virtual corporate card will be a key solution for our customers and beyond,"
-Shawn Qin, Head of Card Business, SUNRATE.
SUNRATE is an advanced global payment and treasury management platform for international businesses. Having global headquarters in Singapore and offices in China, Indonesia, Japan, and the United Kingdom, SUNRATE collaborates with Citibank, Standard Chartered, and Barclays and is the leading member of MasterCard and Visa. The company has facilitated local and global growth for over 130 firms since its establishment in 2016.
DESTINATION AND TOURISM,AIRLINES AND AIRPORTS
Cirium | January 05, 2023
Cirium's 2022 On-Time Performance rankings examine the world's top airports and airlines. This study honors the aviation industry's on-time performance.
Cirium, a global aviation analytics leader, named Azul Airlines the best on-time airline for 2022. This week, the Cirium 2022 On-Time Performance Review came out. It is the world's standard for how well airlines and airports do.
Last year, many airports and airlines had trouble with delays, disruptions, and insufficient resources. North America and Europe were significantly affected. However, Asia-Pacific is trying to break free from COVID's grip. As a result, many airports and airlines performed well despite the weather.
Delta Air Lines won the Cirium Platinum Award for operational excellence for the second consecutive year. This award considers an airline's on-time record, operational complexity, and passenger flight disruption handling.
Regional champions were Delta in North America, Thai AirAsia in Asia Pacific, Oman Air in the Middle East and Africa, Azul in Latin America, and Iberia in Europe. Haneda Airport turned out to be the world's best airport. An airport's departure time is considered on time if it's within 15 minutes.
Cirium's 2022 On-Time Performance Review's top airlines and airports deserve praise for ramping up operations quickly after a pause. Delta Air Lines performed well in Cirium's 2022 On-Time Performance Review, bringing passengers to their destinations on time, while the sector improved in 2022.
In 2022, airlines struggled to predict demand. Throughout the pandemic, they were discontented. Once the demand picked up, it reversed course in the face of new COVID variants. Last year, when the recovery started, airlines, airports, air navigation providers, and other parties were short on staff and resources. Delayed flights also caused problems. As the industry added staff, operations improved, and 2023 looks promising for the aviation industry.
Cirium's analytics and data keep everything moving. It aids in the logical decision-making of travel agencies, aircraft producers, airports, airlines, and financial institutions, influencing the future of the travel industry while boosting revenues and enhancing client experiences. One of the tools RELX provides is Cirium. RELX is a leading global supplier of analytics and decision-making solutions based on information. REL, REN, and RELX are symbols for shares of RELX PLC on the London, Amsterdam, and New York stock markets, respectively.
TRAVEL TECHNOLOGY,AIRLINES AND AIRPORTS
Simplex and TravelX | December 02, 2022
Simplex, the fiat infrastructure for digital assets globally, announced a partnership with TravelX, a technology company that is working with leading airlines and travel organizations like IATA (International Air Transport Association) to tokenize their inventory by turning them into NFTs (NFTickets).
This integration provides customers with easy access to NFTickets through Simplex's on-ramp solution, allowing non-crypto users to purchase seamlessly.
"We are honored to partner with Simplex as we create a more transparent, efficient, decentralized and collaborative travel economy. We are very happy to work with one of the world's most important players in digital payments and believe they are the right partner to join us in this journey,"
-Facundo Diaz, Co-founder of TravelX.
NFTickets are the digital representation of regular flight tickets tokenized through blockchain technology. This allows airlines and travel agents to offer more efficient services and ticketing systems, while helping to reduce supplier distribution costs and inefficiencies, ultimately improving profitability. Travelers have more flexibility managing travel assets without support call centers and can easily buy, transfer, trade or sell tickets through blockchain, all on TravelX's marketplace. Distributed through peer-to-peer (P2P) channels, NFTickets unlock a new era of democratization in the travel industry.
"We are excited to join forces with TravelX to accelerate their Web3 business with our seamless payment solutions, Together, we are transforming the industry by bridging the gap between traditional and decentralized finance and taking the old ticketing system into the future of Web3 applications."
-Dror Ben Eliyahu, Simplex's Head of Business Operations.
Simplex is the fiat/crypto infrastructure for the entire world. An EU-licensed financial institution, Simplex aims to change the status quo of the current crypto markets by providing simple, seamless, and secure channels to convert over 100+ fiat currencies to 170+ cryptocurrencies. Simplex has been actively supporting existing and new protocols in the industry, nurturing and expanding its portfolio of supported cryptocurrencies and payment methods.
Led by a team of tech and travel industry veterans, TravelX is building a blockchain-based distribution protocol to create a more secure, decentralized, frictionless, transparent and efficient travel industry. The company's technology allows travel suppliers to tokenize their inventory into NFTs, unleashing distribution capabilities and use cases that enhance both travelers' flexibility and suppliers' profitability. For more, visit www.travelx.io