TripActions Launches Virtual Card Product for Corporate Travelers

Skift | February 25, 2020

TripActions Launches Virtual Card Product for Corporate Travelers
As the global battle for the lower end of the corporate travel management market rages on, top players are beginning to move beyond travel itself into solving problems above just booking and servicing. TripActions has been steadily growing its travel management platform and now boasts a global workforce of more than 1,000 as it moves into markets around the world. Its new product looks beyond travel to help both travelers and administrator handle one of the most annoying parts of corporate travel: payments.

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IDEMIA ID2Travel Delivers End-To-End Frictionless Biometric Travel Experience in North America

IDEMIA I&S North America | December 07, 2021

IDEMIA I&S North America, the leading identity security and authentication solutions provider, announced the first-of-its-kind travel platform, ID2Travel is launching in North America. ID2Travel is the only interoperable traveler identity platform covering the entire passenger facilitation ecosystem, already proven by IDEMIA and partners around the globe.Based on identity management and biometric identification, ID2Travel is a passenger facilitation solution that improves the traveler experience to deliver efficient, secure and frictionless travel. The platform is interoperable and can be deployed as part of the airport, airline, port or any travel-based infrastructure, or through IDEMIA's patented and National Institute of Standards and Technology (NIST)-rated biometric capture solutions. The passenger experience from check-in and across every touchpoint in the travel experience uses identity proofing that leverages mobile enrollment with secured digital credentials on the traveler's mobile device, biometric devices, and technology back-end services. "ID2Travel is transforming the entire travel experience,Prior to COVID, Americans took approximately 2.3 billion trips, over a one-year period, and this makes the need for the passenger experience to be even more frictionless and seamless as we return to pre-pandemic travel patterns. With that experience and privacy in mind, the timing couldn't be more ideal to launch our ID2Travel offering in North America to improve passenger flow and maintain a touchless experience, while balancing interoperability throughout the broader travel ecosystem." -Lisa Sullivan, Senior Vice President, Travel and Transport, IDEMIA I&S North America Passengers can enroll using a mobile device from home by scanning a state ID or passport, and then taking a selfie to do a 1:1 match. Once submitted for enrollment, travelers will be able to use biometrics to securely and simply move through the airport to their gate and beyond in their travel experience. The IDEMIA solution also allows passengers to opt out and remove their enrollment at any time and all data is immediately removed from the system, empowering the traveler to take full control of their personal identity information (PII). IDEMIA is the only company that has successfully delivered a complete biometric enrollment to gate frictionless passenger facilitation solution (Fast and Seamless travel at Changi by IDEMIA, Aéroport Paris Orly, a biometric journey from check-in to boarding, Iceland's Comprehensive Entry/Exit System with IDEMIA).For more information visit: https://www.na.idemia.com/id2travel About IDEMIA I&S North America IDEMIA I&S is a leader in identity security and authentication services to governments and private companies, operating in North America. Our mission is to help people access what matters most more quickly, more safely, and more securely, in both the physical and the digital worlds. Our best-in-class technology helps to authenticate and secure physical and digital transactions. IDEMIA is recognized by the National Institute of Standards (NIST) as a top-ranking participant in the Institute's passenger facilitation simulation testing as well as in its regular Face Recognition Vender Test (FRVT) rankings, reinforcing the trustworthiness and reliability of IDEMIA's facial recognition solutions for government and consumers alike.

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TRAVEL TECHNOLOGY

New Travel Company Aims To Disrupt Industry With Unique Platform, Proprietary Technology

nomad.me | October 28, 2021

With the busy holiday travel on the horizon, industry leaders Nick Reid and Todd Copley has recently launched nomad.me, a new travel subscription service poised to disrupt the industry with breakthrough aggregation technology and a zero commission markup model. Aimed at savvy leisure and business travelers looking to maximize value, the new platform enables members to pay $295 annually to access the company's proprietary technology to book the lowest possible rates – with a savings up to 60% – at over two million hotels, flights, car rentals, cruises and more. According to Reid – who has worked in every facet of the travel industry, including for such industry leaders as Thai Airways International – this community-based subscription model allows members to exclusively access the company's proprietary aggregation booking engine. "We are focused on revolutionizing the travel industry with an easier and improved buying experience, offering the best possible pricing because there are no markups or commissions," -Nick Reid Copley, a longtime travel industry executive with expertise in the global tour operator sector, travel product development and international hospitality contracting, says nomad.me dovetails into a growing trend – embracing a membership model accelerated by online perusing during the COVID-19 pandemic. "With the launch of nomad.me, we are meeting a growing demand with forward thinking technology," he said. "The subscription economy was on the rise before the pandemic but intensified its reach into nearly every industry as the outbreak persisted. This trend is expected to continue." -Todd Copley About nomad.me Offering enticing travel perks and deals, nomad.me is a community-based travel subscription business that allows members of its closed user group to access a proprietary aggregation booking engine. For more information, visit https://nomad.me/.

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TRAVEL TECHNOLOGY

TripActions Raises $275M AT $7.25B Valuation

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.”

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Spotlight

These are the It spots! Welcome to MojoTravels and today we’ll be counting down our picks for the hottest countries tourists are flocking to in 2019.