- Checkout.com's virtual card platform cuts Holiday Extras' manual processing time by more than one and a half days per week
- This integration brings financial rewards through interchange fees and improved security with MCC-locked virtual cards
- This marks the first time Holiday Extras has implemented virtual cards, revolutionizing their payment processes and enhancing efficiency across the board
LONDON, Sept. 4, 2024 /PRNewswire/ -- Checkout.com, a leading global digital payment solutions provider, has helped Holiday Extras streamline and increase the performance of their payment processes through the use of virtual cards, resulting in increased automation, improved operational efficiency, and positive financial outcomes.
Holiday Extras, the market leader in holiday extras, is used by more than 11 million travelers every year to book airport parking, airport hotels, airport lounges, travel insurance, car hire, airport transfers and more. By integrating Checkout.com's issuing platform, Holiday Extras has automated their booking and payment systems, significantly reducing manual processing and simplifying their robust error-checking systems.
Before partnering with Checkout.com, Holiday Extras relied on entirely manual payment processes with their hotel, hospitality, and airline business partners, which caused inefficiencies. Manual batch bank wire transfers were previously required between Holiday Extras and their partners to confirm bookings and make payments, an area in which the two companies worked together to identify opportunities for technical improvements and significant efficiencies.
Successful implementation of this automated booking and payment system across the business is expected to reduce manual processing time by at least 12.5 hours per week, leading to substantial savings. Furthermore, the ability to lock virtual cards to specific Merchant Category Codes (MCCs) has also added an extra layer of security, reducing decline rates and enhancing overall customer and partner satisfaction.
Checkout.com provides a comprehensive virtual card issuing platform that seamlessly integrates into the booking system of partners. This integration allows Holiday Extras to issue virtual cards automatically to secure room bookings and make automatic payments to partners as soon as a customer makes a reservation on their website.
Holiday Extras is excited to use Checkout.com's travel card proposition, which leverages virtual card technology as part of the Mastercard Wholesale Program, to pay their hotel partners. These cards enhance the partner payment experience, and offer a simpler cost structure as well as more card product and currency flexibility.
"Partnering with Checkout.com has transformed how we manage payments. The integration of virtual cards has not only streamlined our booking and payment processes but also enhanced security and efficiency. We're excited to expand this solution further, improving the experience for partners and the performance of our customer journey.", said Michelle Taylor, Account Payable Team Leader at Holiday Extras.
"At Checkout.com, we are committed to empowering businesses with innovative payment solutions that enhance the performance of payments and fuel growth. Our Issuing platform is designed to simplify complex payment processes, and we're thrilled to see Holiday Extras benefiting from the automation and security. This collaboration enables Holiday Extras to provide an even smoother booking experience for its customers, ensuring secure and efficient transactions every time" said Antoine Nougué, Chief Revenue Officer at Checkout.com.
About Checkout.com
Checkout.com processes payments for thousands of companies that shape the digital economy. Our global digital payments network supports over 145 currencies and delivers high-performance payment solutions across the world, processing billions of transactions annually.
With flexible and scalable technology, we help enterprise merchants boost acceptance rates, reduce processing costs, combat fraud, and turn payments into a major revenue driver. Headquartered in London and with 16 offices worldwide, Checkout.com is trusted by leading brands such as Sony, Shein, Sainsbury's, Wise, Patreon, GE Healthcare, Rail Europe, and The Financial Times.
Checkout.com. Where the world checks out.
About Holiday Extras
Holiday Extras is the UK market leader in airport parking, airport hotels, worldwide airport lounges, destination car hire, airport transfers and holiday insurance. Established in 1983, Holiday Extras makes bookings for over 8 million travellers each year. When booking with Holiday Extras, if plans change, no matter what the reason, Flextras ensures it will always be easy and free to cancel the booking and reschedule for another date. The company has been listed eleven times in The Sunday Times 100 Best Companies to Work For.???
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