The Advantage Travel Partnership introduces a new payment method aimed at reducing card fees for agents.
- Members can now use open banking technology for client transactions, potentially saving on processing fees.
- The innovative payment portal integrates seamlessly into agents’ websites, facilitating bank-to-bank transfers.
- Open banking, gaining traction outside travel, promises efficiency and cost-effectiveness for agents.
- Advantage sees growing acceptance of this technology, with significant cost savings reported by early adopters.
The Advantage Travel Partnership has embraced open banking technology, a cutting-edge payment solution designed to alleviate the financial burden of card processing fees for its members. This new approach encourages transactions through direct bank-to-bank transfers, steering away from traditional card payments that typically attract additional charges for agents.
This innovative payment method was unveiled at the recent Advantage conference in Costa Mujeres, Mexico. It emerges from a collaboration with Boodil, a payments specialist, and aims to embed a self-branded payment portal into the agent’s website. This portal can efficiently manage payments remotely, either in person, via a unique customer link, or through a QR code sent by SMS or email.
The introduction of open banking technology is positioned as a strategic move to streamline payment processes for travel agents, enhancing both convenience and security. Such technology, while relatively novel within the travel sector, is already widely utilised in other industries, showcasing a year-on-year transaction growth rate of 69%.
Advantage’s Chief Operating Officer, Paul Nunn, emphasised the value that this new system could offer members. He highlighted the importance of providing consumers with diverse payment options, suggesting that Boodil’s platform represents a modern and potentially more preferred choice for end-users.
Dally Singh, co-founder of Boodil, expressed enthusiasm about the partnership, highlighting the ease and safety of their cloud-based product. Singh noted that the product ensures seamless integration into any business model, thus making it a flexible and adaptable solution.
Jake Cullum-Hollins, a member of Advantage and an early adopter of the Boodil portal, confirmed the transformative impact on his agency’s operations. He reported a notable shift, with 60% of card payments now processed via Boodil, affirming substantial cost savings and operational simplicity offered by this payment method.
The integration of open banking within Advantage Travel Partnership is set to redefine payment efficiencies for agents.
