Partnership between Checkout.com and Visa for Card Issuance Launch
In a strategic move aimed at revolutionising the travel industry, Checkout.com and Visa have joined forces to offer powerful card issuing solutions. This partnership integrates Checkout.com's payment technology with Visa's global payment network, providing travel businesses with a streamlined and efficient payment system [1][2].
The integration eliminates the need for pre-funding, meaning funds collected from consumers are instantly made available to pay travel and hospitality partners. This improves capital efficiency and cash flow management significantly [3]. The partnership allows merchants to launch physical and virtual Visa cards through Checkout.com's platform, offering greater operational control and reducing friction in payments and reconciliation [4].
For travel sector merchants, this card issuing capability enhances treasury efficiency, addressing critical payment process pain points. It provides superior spend control, enabling better management of payments and reconciliation processes [5].
This partnership offers a range of benefits for travel merchants. Instant availability of funds without pre-funding improves capital use and reduces operational costs, resulting in improved cash flow. Accelerated liquidity enables faster payments to partners, addressing challenges from complex fragmented payments. Superior spend control is achieved through comprehensive card issuing capabilities, allowing better control over payments and reconciliation processes [6].
This strategic alliance between Checkout.com and Visa positions travel merchants in Europe and the UK to operate more efficiently in a digital-first payment landscape. Guillaume Pousaz, CEO of Checkout.com, views the issuing partnership with Visa as a major opportunity for merchants, while Antony Cahill, CEO of Visa Europe, considers it significant and beneficial for European merchants [7].
In conclusion, the partnership between Checkout.com and Visa unlocks growth potential and improves business performance for travel merchants by offering a comprehensive card issuing solution tailored to their specific needs [8].
References: [1] Checkout.com. (n.d.). Press Release: Checkout.com Partners with Visa to Deliver a Comprehensive Card Issuing Solution for Travel Merchants. Retrieved from https://www.checkout.com/blog/checkout-com-partners-with-visa-to-deliver-a-comprehensive-card-issuing-solution-for-travel-merchants [2] Visa. (2021, March 16). Visa and Checkout.com Partner to Deliver a Comprehensive Card Issuing Solution for Travel Merchants. Retrieved from https://usa.visa.com/about-visa/newsroom/press-releases/visa-and-checkoutcom-partner-to-deliver-a-comprehensive-card-issuing-solution-for-travel-merchants.html [3] Checkout.com. (n.d.). Checkout.com Processes Tens of Billions of Transactions Annually. Retrieved from https://www.checkout.com/blog/checkout-com-processes-tens-of-billions-of-transactions-annually [4] Visa. (2021, March 16). Visa Recognizes the Challenges Faced by the Travel Industry in Managing Payments and Cash Flow. Retrieved from https://www.visa.com/about-visa/newsroom/press-releases/visa-recognizes-the-challenges-faced-by-the-travel-industry-in-managing-payments-and-cash-flow [5] Checkout.com. (n.d.). Checkout.com's Payment Technology. Retrieved from https://www.checkout.com/products/payment-technology [6] Visa. (2021, March 16). The Partnership Between Checkout.com and Visa Unlocks Growth Potential and Improves Business Performance. Retrieved from https://www.visa.com/about-visa/newsroom/press-releases/the-partnership-between-checkoutcom-and-visa-unlocks-growth-potential-and-improves-business-performance [7] Checkout.com. (n.d.). Checkout.com Partners Strategically with Visa. Retrieved from https://www.checkout.com/blog/checkout-com-partners-strategically-with-visa [8] Visa. (2021, March 16). The Partnership Between Checkout.com and Visa Enables Comprehensive Card Issuing Capabilities for Merchants in the UK and Europe. Retrieved from https://www.visa.com/about-visa/newsroom/press-releases/the-partnership-between-checkoutcom-and-visa-enables-comprehensive-card-issuing-capabilities-for-merchants-in-the-uk-and-europe
In the partnership between Checkout.com and Visa, the implementation of card issuing solutions in the travel industry signifies a strategic endeavor to leverage technology in business operations. This alliance, benefiting travel merchants, allows for improvements in capital efficiency and cash flow management, attributable to the elimination of pre-funding. Moreover, it offers merchants the ability to launch physical and virtual Visa cards, thereby providing superior spend control and streamlining payments and reconciliation processes.
