Advantage Travel Partnership members now have access to a new payment method designed to reduce card processing fees.
This method leverages open banking technology, allowing customers to transfer money between banks through an online platform instead of using a card. This incurs a commission fee to the agent. The initiative is the result of a collaboration between a consortium of agents and payments specialist Boodil, announced at the Advantage conference in Costa Mujeres, Mexico.
The new system will integrate a branded payment portal into the agency's website to facilitate the use of open banking. This portal allows agents to securely and remotely collect customer payments without manual intervention. Payments can be received directly, through your own customer link, or through her QR code sent by SMS or email.
The consortium emphasized that this approach reduces business costs associated with card payment processing and provides customers with an efficient payment method. You can also schedule payments, allowing agents to manage travel payments over time.
Open banking in travel
According to travelweekly.co.uk, open banking technology is relatively new to the travel industry, which is still dominated by card payments. However, the same source reveals that the transaction is being widely used in other areas as well, with a reported annual growth rate of 69%.
Advantage representatives emphasized the importance of offering consumers a variety of payment options. While card payments remain popular, new open banking methods offer a modern alternative that is expected to grow in priority over time. Essentially, our partnership with Boodil aims to provide additional payment options to our members and reduce processing costs for our merchants.
Budil co-founders collaborate with Advantage Travel Partnership to empower member companies with a cloud-based payment solution designed to simplify and secure payment collection while being cost-effective and easy to integrate. expressed enthusiasm for supporting the
In a similar development, Boodil launched its Pay by Portal solution in May 2023. The new platform allowed businesses to benefit from his A2A payments without the need for high card fees. With this new service, Boodil allows merchants to realize the benefits of open banking payments, as Pay by Portal allows merchants to send payment links to their customers via their SMS, email or generated QR code. We aimed to help you make it possible.
