Travel agencies lost market share to large global online players, and only the largest can absorb the financial burden of a European subsidiary. B2B Pay's virtual bank account in the EU automatically and quickly pays you in your home account of choice and is the modern and affordable choice for any travel related business. We save you +80% on fees alone - which for some amount to 20% of net profits - and transfer money to some markets in hours not days or weeks.
Margins in the travel industries tend to be very low. Yet this sector has one of the highest number of cross-border payments. At the same time, customers want more payment options, from credit cards to bank transfers to local transfers. Customers would rather pay with card than wire but this can carry a 6% cost between the fees and conversion. Travel agencies need a better way to easily interface with their travellers when it comes to payments.
Virtual Bank Accounts allow travel industry players to give their customers the best possible experience. It is the only way to collect in Euros instantaneously and significantly cut down on conversion costs. VBAs brings important cogs of the industry such as travel agencies agencies closer to their customers by giving them a presence in Europe. We connect you to your travel agency accounting software.
A travel agency based in India helps curate vacations for European travellers. Ideally, the agency would like to be paid in Rupees without putting undo pressure on their clients. But the clients would far rather pay in Euro. B2B Pay solves this problem with a virtual bank account. The European traveller pays in euro, the payment arrives to the travel agency in Rupees -- and gets there faster and with fewer fees.
B2B travel payment solutions: what is best for your company?
The early adoption of a B2B travel payment solution is a sound option for players in the travel industry. It upgrades your fighting chance with sound strategy because beyond saving you money you are given the freedom to refocus into what matters to you instead of needlessly wasting time in redundant processes and countless business routines. With accounting software and integration to any other systems via API there are no more reconciliation issues and getting paid is easier.
Additionally, the new data stream will shows you how much more efficient your operation became thanks to our virtual bank account integrated solution.
Without B2B Pay, your company:
- Cannot open a bank account in Europe
- Cannot collect or send domestic wire transfers (SEPA Payments)
- Pays SWIFT fee of €30
- Pays currency conversion cost of 3-6%
- Cannot access local payment gateways
- Suffers the Frustration of bureaucratic banking processes
- Cannot collect payments from marketplaces like Amazon
- Takes 2-5 days per transfer
With B2B Pay, your company:
- Receives SEPA payments from 35 EU countries for free in 2-12 hours
- Makes SEPA payments to 35 EU countries
- Saves €30 SWIFT charges and +80% on FX
- Takes advantage of FX conversion automation
- Uses its IBAN to integrate with marketplaces and payment gateways
- Accesses premium brokers to make global payments in 138 currencies
- Gets Instant notifications of incoming payments
- Takes advantage of online onboarding