Funding
Funding not disclosed
Founders
Product
Problem
Travel suppliers face challenges in expanding their sales globally due to fragmented payment infrastructures and high transaction costs. This limits their ability to reach diverse customer bases and impacts their operational cash flow.
Solution
TravelPay provides a cross-border payment platform that enables travel suppliers to collect payments and receive payouts in over 60 markets. The service offers virtual accounts that support local payment methods, facilitating seamless transactions for international customers. By reducing transaction fees by up to 50% compared to traditional methods, TravelPay helps businesses improve their profit margins and accelerate cash flow. The platform's infrastructure is designed for easy integration, allowing suppliers to expand their global reach without significant upfront investment or complex financial management.
Target Audience
The primary customers are travel suppliers, including tour operators, travel agencies, and online travel agencies (OTAs), seeking to expand their international sales and streamline payment operations.
Features
- Virtual account provisioning in 60+ global markets to accept local payment methods.
- Automated payment collection and instant settlement capabilities.
- Fee reduction of up to 50% on international transactions.
- Multi-currency holding and exchange functionality with low conversion fees.
- API for programmatic payment creation and management.
- Tools for automated reporting, invoice management, and tax optimization.
- Support for installment plans and split payments.