Mastercard has partnered with Checkout.com to launch virtual cards for online travel agents.

The new partnership supports Online Travel Agencies (OTAs) and other travel sector businesses that use cards to make B2B payments.

Mastercard said that the virtual cards will enable Checkout.com customers to pay their suppliers more easily and benefit from higher conversion rates.

The collaboration is part of the Mastercard Wholesale Program, which aims to reduce costs for travel businesses through virtual card technology.

Mastercard said that previously OTAs had to manage customer payments separately from payments made to their suppliers which was inefficient and increased the potential for error. Mastercard says the new virtual cards streamline the process and will “deepen trust” in the industry.

“Mastercard remains committed to powering the travel economy with digital payment solutions that provide greater flexibility, visibility, and protection,” said George Simon, EVP market development at Mastercard Europe. “Over 400,000 travel providers worldwide already rely on us to enable payments through the Mastercard Wholesale Program, and we’re thrilled to be collaborating with Checkout.com to support their customers to embrace the next generation of payment solutions for B2B travel.”

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