How airlines can facilitate greater B2B payments acceptance by unlocking the benefits of agent cards
The B2B travel payments landscape has seen a significant shift towards digitalization, largely driven by the Covid-19 pandemic. A recent research report predicts that the total number of B2B transactions with virtual cards, including those in the travel sector, will increase to 740.7 million by 2028, from 189.9 million in 2023. What’s more, by the year 2028, B2B payments are forecasted to make up the majority of virtual card transaction value; accounting for up to 77.8% of the total value, at $10,771.3 billion. The implementation of agent cards is a key driver of this growth, with the travel sector seeing increasing prevalence, due to the financial benefits and enhanced security they offer. However, the acceptance of agent cards by some travel suppliers remains a barrier to adoption across the ecosystem.
The leading reason cited by airlines for not fully accepting agent cards is typically cost. While a focus on merchant fees can lead to the perception of agent cards as more costly than traditional methods thorough cost and benefit analysis would highlight significant revenue opportunities. Read on to discover how airlines can benefit from agent cards and implement a successful acceptance policy.
READ FULL PAPER
Article by VISA
