Visa has partnered with Qashio, a spend management platform, to introduce a new B2B travel payments solution across the United Arab Emirates (UAE), the Middle East and North Africa (MENA) region, Europe, and the United Kingdom. The collaboration aims to streamline and digitize payment processes for online travel agencies and travel management companies, transforming the way these businesses handle transactions.
The new Visa Commercial Choice Travel program, launched on January 6, will allow travel companies to use Qashio’s multi-currency cards, supporting UAE dirhams (AED), Saudi riyals (SAR), U.S. dollars (USD), euros (EUR), and British pounds (GBP). The platform is integrated with global travel management systems and booking tools, offering a seamless, automated, and secure payment experience.
According to Qashio CEO and Co-founder Armin Moradi, the travel and tourism industry in the region has long lacked robust payment solutions that cater specifically to the needs of travel companies. “We are creating a one-stop platform that simplifies the corporate travel experience, allowing businesses to focus on growth,” Moradi said in a statement.
Salima Gutieva, Visa’s Vice President and Country Manager for the UAE, highlighted that this partnership underscores Visa’s commitment to providing secure, efficient payment solutions that enable the digital transformation of travel and tourism businesses.
B2B payments in the travel sector, particularly those between businesses and vendors, can often be complex and challenging. A recent report by PYMNTS Intelligence and Flywire revealed that 20% of travel and tourism businesses consider B2B payouts a major pain point, while 43% say it’s somewhat significant.
In January 2024, Qashio also collaborated with the embedded finance platform CredibleX to offer financing options to businesses in the MENA region, further expanding its suite of services for corporate clients.
