Partnership streamlined payment processes across multiple European destinations
Noda and Tickets Travel Network partner for ‘seamless’ travel payments
Global open banking provider Noda has partnered with travel distribution company Tickets Travel Network, to facilitate instantaneous open banking payments within the travel industry.
Tickets Travel Network, known for its service across various European locations, has now integrated Noda's Open Banking platform.
This integration facilitates “secure and direct” account-to-account payments for “seamless” payment experience for travellers.
With an acceptance rate of around 90% in most of the serviced regions, this partnership ensures a “high throughput” of payments.
Payment flows have been tailored to meet the specific needs of Tickets Travel Network.
Noda's Open Banking platform enhances the reconciliation process for Tickets Travel Network by providing daily settlements for the previous day's transactions.
This T+1 payout initiative significantly accelerates the payment process, allowing Tickets Travel Network to settle with suppliers expeditiously on a daily basis.
User refunds or payouts has been introduced because of the collaboration should service discrepancies occur.
The capability to accept funds in different accounts across multiple currencies is said to further enhance the operational efficiency of Tickets Travel Network.
Michael Bystrov, chief revenue officer of Noda, said: "This partnership with Tickets Travel Network not only marks our foray into the travel sector but also sets a precedent in delivering cutting-edge payment solutions.
“We are thrilled about the positive impacts and the new benchmarks we are setting in the travel industry together."
Sergiy Tikhiy, head of payment systems of TTN Travel Holding, said: "We are beyond excited to kick off our partnership with Noda, a trailblaser in open banking solutions.
Noda's superior technology will empower us to offer instant, secure, and hassle-free transactions, marking a significant step towards achieving a frictionless payment ecosystem.
As the leading travel entity, we believe this synergy with Noda will not only enhance our operational efficiency but also significantly uplift the satisfaction and trust of our customers."
Tickets Travel Network and Noda are “committed to continuous innovation to deliver superior payment solutions”.