TRAVEL TECHNOLOGY, INDUSTRY OUTLOOK, HOSPITALITY TRENDS
Paysafe | October 21, 2022
Paysafe (NYSE: PSFE), a leading specialized payments platform, announced a new integrated payments partnership with HotelKey, a cloud-based software solution provider for the hospitality industry. Paysafe will seamlessly integrate with HotelKey’s software solutions to streamline payments for U.S. hotels across their front-desk, hospitality, retail, food and beverage, and other back-of-house operationsHotelKey’s software solutions are currently deployed across thousands of hotels in the U.S. and are designed to help individual properties and hotel chains, including independently-owned and franchised hotels, manage their end-to-end guest operations. Paysafe will support HotelKey’s mission to simplify hotel property management by establishing a centralized hub for payment processing to securely process in-person, card-present and card-not-present transactions across all designated sales channels.
The integration will provide properties using HotelKey’s simple, cloud-based software applications with the enhanced ability to offer frictionless online credit and debit card payments to hotel guests for transactions at the front-desk, in bars and restaurants, and for onsite events and catering services. This solution provides the flexibility for properties to process transactions through a secure payment gateway, including Freedom Pay, Elavon, or Shift 4 gateways, to maximize revenue and overall efficiency of payment acceptance while enabling more hotels, regardless of their size or scale of business, to meet U.S. and international travelers’ payment preferences.
HotelKey’s integration with Paysafe supports in-person, or card-present, transactions across all retail touchpoints a property can offer. As well as check-ins and on-property hospitality, payment processing for purchases made onsite at convenience stores, gift shops, spas, salons, restaurants, bars, and other recreational services, will all be supported.
In addition to processing guest-related transactions, Paysafe will integrate with HotelKey’s back-of-house-focused app to streamline payments for recurring purchases that support day-to-day operational needs, including food and beverage orders to restock onsite bars and restaurants, guest room linens, and essential supplies for housekeeping and maintenance teams.
“We’re passionate about partnering with innovative technology companies to develop forward-thinking payment solutions. Our partnership with HotelKey is an exciting opportunity to reinvent the retail and payments experience for the hospitality industry. With HotelKey, we look forward to providing the dedicated support that will help U.S. hotels continue to thrive.”
-Afshin Yazdian, President of Merchant Solutions at Paysafe
Alexander Schindelbeck, VP of Operations, commented: “We’re excited to partner with Paysafe to provide our hotel clients with an embedded payment solution that addresses growing consumer demand for convenience by creating a seamless payments experience that simplifies the day-to-day responsibilities of property staff, and increases owner visibility of their property’s payment processing from a single reporting dashboard.”
About Paysafe Limited
Paysafe Limited (“Paysafe”) (NYSE: PSFE) (PSFE.WS) is a leading specialized payments platform. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, and online cash solutions. With over 20 years of online payment experience, an annualized transactional volume of over US $120 billion in 2021, and approximately 3,500 employees located in 10+ countries, Paysafe connects businesses and consumers across 100 payment types in over 40 currencies around the world. Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments. Further information is available at www.paysafe.com.
About HotelKey
HotelKey is a cloud-based Property Management System designed for the Hospitality Industry. Since 2014, HotelKey has provided software solutions that are efficient, reliable, and easy to use. The HotelKey Platform combined with its world class Client Services teams supports individual properties, small to large sized portfolios, and global enterprises. HotelKey is based in Dallas, TX., and serves clients worldwide from offices in South Asia and Europe. For more information, visit www.hotelkeyapp.com.
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TRAVEL TECHNOLOGY, DESTINATION AND TOURISM
Sabre Corporation And BCD Travel | November 01, 2022
Sabre Corporation (NASDAQ: SABR) and BCD Travel announced a long-term, multi-faceted strategic partnership that is expected to drive meaningful growth and advancement for both companies and across the travel ecosystem.
Under the newly expanded and long-term technology agreement, BCD Travel expects to increase its booking levels with Sabre. Additionally, the two companies will jointly invest and collaborate on new and advanced solutions that will help accelerate the technology-driven evolution underway across the corporate travel ecosystem.
BCD Travel is a long-time, valued Sabre partner. Over the years, we've tackled industry challenges, innovated and grown together. Today, we take another important step in our partnership as we mutually commit to advancing the future of the travel," said Kurt Ekert, president of Sabre. "This agreement demonstrates our continuing commitment to helping BCD achieve its objectives to differentiate its offerings, improve operational efficiency and grow. Whether that takes the form of providing solutions, or enabling solutions, we will continue to build and sustain the value-added relationship we've enjoyed with BCD for so many years.
The partnership will see the two industry leaders focus on creative solutions for managing growing complexities and evolving customer expectations as well as transforming the impacts of technology and marketplace dynamics into opportunities. Sabre will continue to utilize its technical expertise, innovative energies and corporate stability to help enable BCD's success globally.
"This agreement is in line with our strategy to improve our agility, flexibility and responsiveness in a shifting environment, By extending our long-standing partnership with Sabre, we'll streamline our distribution technology footprint and simplify our operational, technical and future development infrastructure, allowing us to move more rapidly on our clients' behalf as we innovate, anticipate and adjust to emerging market opportunities. As we focus on post-Covid travel complexities and engage on deeper technology collaboration and joint development areas, we will enhance our speed to market with functionalities to improve travelers' planning and booking experience including bringing NDC to life."
-BCD Travel CEO and President John Snyder.
As BCD and Sabre extend and deepen their existing relationship, both companies are expected to benefit as Sabre pursues its ambitious goals of:
Accomplishing its tech transformation with cloud migration, microservice enabled architecture, and use of the latest smart technologies and digital innovations like AI and ML for a future-ready environment both Sabre and BCD can utilize.
Continuing to champion balanced supplier distribution economics on behalf of travel industry constituents for the content access our customers need.
Delivering premium retailing, distribution and fulfillment capabilities, including NDC-enabled solutions, across the value chain.
About Sabre Corporation
Sabre Corporation is a leading software and technology company that powers the global travel industry, serving a wide range of travel companies including airlines, hoteliers, travel agencies and other suppliers. The company provides retailing, distribution and fulfilment solutions that help its customers operate more efficiently, drive revenue and offer personalized traveler experiences. Through its leading travel marketplace, Sabre connects travel suppliers with buyers from around the globe. Sabre's technology platform manages more than $260B worth of global travel spend annually. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world. For more information visit www.sabre.com.
About BCD Travel
BCD Travel helps companies make the most of what they spend on travel. We give travelers innovative tools that keep them safe and productive and help them make good choices on the road. We partner with travel and procurement leaders to simplify the complexities of business travel, drive savings and satisfaction, and move whole companies toward their goals. In short, we help our clients travel smart and achieve more. We make this happen in 106 countries with a global client retention rate of 97%, the highest in the industry. For more information, visit www.bcdtravel.com.
About BCD Group
BCD Group is a market leader in the travel industry. The privately owned company was founded in 1975 by John Fentener van Vlissingen and consists of BCD Travel (global corporate travel management and its subsidiary BCD Meetings & Events, global meetings and events agency) and Park 'N Fly (off-airport parking). For more information, visit www.bcdgroup.com.
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TRAVEL TECHNOLOGY,COMMERCIAL TRAVEL
Sabre Corporation,Conferma Pay and Mastercard | November 29, 2022
Sabre Corporation (NASDAQ: SABR) a leading software and technology provider that powers the global travel industry, and Conferma Pay, a global fintech firm that specializes in payment technology, announced a new partnership with Mastercard to accelerate the use of virtual cards for business-to-business (B2B) travel payments.
Today's announcement builds on Sabre's August 2022 acquisition of Conferma Pay. The collaboration with Mastercard is the next step in advancing Sabre's goal to create an open and independent travel payment ecosystem.
Digitization of travel payments with virtual cards helps address the historic challenges associated with B2B leisure and corporate travel payments. The securely generated, single use card numbers provide a link between booking and associated payments to third party suppliers. Travel buyers and suppliers are therefore able to easily track and reconcile payments, as well as benefit from flexible pricing, financing options, and enhanced security through card payment guarantees.
"The payments industry is in the midst of a revolution and there is an increased need for travel companies to better manage the whole payment experience, Companies in the travel space – including travel management companies, travel agencies, corporations, issuers and technology partners – need sophisticated solutions and seamless connections. Sabre is taking strategic steps to fulfill the needs of our industry, beginning with the acquisition of Conferma Pay. Now, the new partnership with Mastercard will help Conferma Pay to build new and enhanced digital capabilities in virtual cards, transforming the payment experience for issuers."
-Roshan Mendis, Executive Vice President and Chief Commercial Officer, Sabre Travel Solutions.
As part of the agreement, Mastercard has agreed to make a minority investment in Conferma Pay, which will continue to operate independently and serve the entire travel industry and beyond. Mastercard's investment in Conferma Pay is subject to customary closing conditions.
A combination of experience, technologies and capabilities will accelerate travel payment innovation and drive inclusive and sustainable growth for the sector, said Chris Fendley, Executive Vice President, Enterprise Partnerships at Mastercard. Virtual cards deliver visibility, boost liquidity and increase control over B2B payment flows, which enhance payment strategies and empower organizations across the travel value chain to run, grow and protect their business, which has never been more essential.
Conferma Pay connects issuers to more than 700 travel management companies, all the major global distribution systems and more than 100 online booking tools. Conferma Pay is fully integrated with all the major card schemes and serves more than 50 banking partners, who issue Conferma Pay generated virtual cards in nearly 100 currencies.
"We've already made significant inroads in the B2B travel space through partnering with Sabre, We are excited about the new investments. This, combined with our existing strong relationships, will enable Conferma Pay to build on our global footprint and be at the forefront of addressing industry challenges and opportunities."
-Martin Cowley, interim CEO at Conferma Pay
Sabre's Virtual Payments will continue to offer Conferma Pay services – with increased capabilities that help travel buyers, agencies and corporations best support travel customer needs. Sabre Virtual Payments is a unique, secure, automated and integrated end-to-end payment solution designed to simplify and add value to the transactions that TMCs, OTAs, travel agencies, corporations and travel suppliers do every day. Sabre Virtual Payments takes all the capabilities of Conferma Pay and its network of issuers and combines it with seamless integration across Sabre products for -connected travel buyers, agencies and corporations.
About Sabre Corporation
Sabre Corporation is a leading software and technology company that powers the global travel industry, serving a wide range of travel companies including airlines, hoteliers, travel agencies and other suppliers. The company provides retailing, distribution and fulfilment solutions that help its customers operate more efficiently, drive revenue and offer personalized traveler experiences. Through its leading travel marketplace, Sabre connects travel suppliers with buyers from around the globe. Sabre's technology platform manages more than $260B worth of global travel spend annually. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world. For more information visit www.sabre.com.
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
www.mastercard.com
About Conferma Pay
Conferma Pay is a global financial technology company. It designs and integrate virtual payment systems that provide a more efficient, seamless and secure way to pay for businesses. Conferma Pay was born in Manchester in 2005. Since then, it has connected over 700 TMCs, and directly integrates with all the major GDSs and OBTs. Its roots lie in corporate travel payment integration. It enables its payment providers to flow virtual cards into the preferred purchasing process of any business travel buyer. Crucial to this is its network of banking partners, who have issued virtual cards in over 200 countries, in 40 currencies with over 45 commercial banking partners via all major card networks. Its ecosystem continues to expand to meet the growing requirements of its global customer base.
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