As the COVID
crisis recedes, travel suppliers and intermediaries are considering how
they can update and improve their operations to accelerate their future success.
Top of mind
for many of them are their payment strategies – with a focus on how to boost
digitization to provide greater protection for consumers and to minimize
settlement time for merchants and suppliers.
According to
Mastercard’s vice president of travel industries, Kevin White, many agencies
and other intermediaries are turning to the “merchant of record” model for
their payment processing.
In an interview
with PhocusWire editor in chief Mitra Sorrells, White discusses the benefits of
this model for agencies and why virtual cards are a critical part of effective
strategy.
And he
explains why collaboration among travel buyers, suppliers, financial partners
and technology partners is necessary to drive growth across the industry.
Watch the
full discussion below.
Cross-sector collaboration key to success for travel industry