Sabre and Revolut revolutionizing global payments for travel agencies

Thursday, February 8, 2024

Sabre & Revolut revolutionize B2B travel payments, onboarding 40+ clients in <1yr, enhancing payment security & efficiency.

Sabre Corporation, a forefront provider of software and technology solutions for the global travel industry, listed on NASDAQ as SABR, together with Revolut, a worldwide leader in fintech offering comprehensive banking services, today shared the triumphant outcomes of their collaboration. This partnership is revolutionizing the business-to-business payment process for travel agencies.

In under a year, the collaboration between these two technology innovators has led to the onboarding of more than 40 clients, marking a significant shift in how financial transactions are managed for travel agencies. By integrating Revolut’s virtual card technology within the Sabre Virtual Payments system, the partnership enables a more efficient and secure payment method for travel agencies to settle accounts with airlines, hotels, and other suppliers. This integration fosters enhanced operational efficiency, customization, and quicker market adaptability for users of Sabre Virtual Payments.

Key challenges addressed by this alliance for agencies connected to Sabre using the virtual payments system include:

• A drastically reduced onboarding time, transitioning from several months to mere days, facilitating swift transactions and supplier payments.
• The smooth incorporation of secure, adaptable virtual card technology into their pre-existing systems.
• Availability of an extensive selection of commercial card options, enhancing payment acceptance.
• Advantageous currency conversion rates and instant insights via efficient Foreign Exchange (FX) management, offering unmatched clarity and control over international payments and aiding in well-informed decision-making.
• Enabling agencies to enhance the payment experience for travel suppliers, ensuring timely payments in the chosen currency at agreed-upon rates.

“Revolut is thrilled to be at the forefront of digital transformation in the travel industry with our partners at Sabre. Our combined efforts in providing a range of virtual cards, real-time currency exchange, and API-driven payment solutions have already benefited a multitude of businesses this year. We are eager to continue adding value for our clients in 2024,” commented Will Hannan, Global Head of Embedded Finance Sales at Revolut.

Future Market Insights forecasts that the virtual card market is set to reach a valuation of US$ 1.3 trillion by 2032, experiencing an annual growth rate of 12.2% from 2022 to 2032. This growth is driven by the rising demand for API-based virtual card issuing platforms, the need for secure and convenient payment methods, and the increasing use of smartphones and e-commerce.

Sabre Virtual Payments acts as a pivotal integration point between travel agencies, Revolut, and various booking tools, streamlining payment reconciliation and providing detailed payment data reporting. This ensures a secure, integrated solution for comprehensive end-to-end payment services.

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