Trip Affiliates launches payments fintech for hotels and distributors

Trip Affiliates launches payments fintech for hotels and distributors

BorderXP developed to make cross border payments more instant and efficient

Trip Affiliates Network has launched a new hub to support hotels and distributors to expand in international markets through more efficient collection of payments.

The Singapore-based solutions provider for travel companies says BorderXP (BXP) has been designed to make payments management more cost effective and instant.

Integrated with a portfolio of over fifty licenses held across the globe, the service includes e-wallets, payment gateways, virtual card accounts and virtual bank accounts.

Trip Affiliates said BXP provides a “comprehensive , global footprint to process online payments with business partners in a transparent, timely, cost-effective and secure manner”.

BXP’s fintech innovation Lead Tham Shiming said: “BXP is a culmination of our efforts to provide seamless, instant and cost effective payment solutions for high volume suppliers such as hotels and inbound/outbound operators using our hospitality and travel tech platform services or scaled to their business requirements via BXP’s payment APIs.

“TA Network’s differentiated online connectivity with suppliers like hotels, coupled with BXP’s digital payment services, empowers suppliers to transform and expand their B2B partnerships with domestic/overseas agents, wholesalers and corporates without worrying about credit or payment issues”.

Covid-19 has seen a major shift towards digital-first transactional experiences which requires instant and secure payments within the global B2B payments landscape, instead of relying on traditional credit facilities, said Trip Affiliates.

Through the TA Network platform and BXP’s payment APIs, users will have access to a plugin payment tool for online prepayment solutions, cross border payments in almost real-time and in widely used currency pairs.

Shiming added: “In a post-COVID new normal, TA Network also recognises the need for business owners to adopt pre-payment mechanisms instead of relying on traditional post-payment credit facilities.”

Josef Foo, managing partner at TA Network, said: “ We look forward to making instant B2B cross border payments a fixture for the offline -to -online sectors as the pandemic has reinforced the need for companies to undergo digitalisation which is critical for the new digital economy.

“BXP’s architecture is designed to scale up operationally and to support the rapid growth of our core businesses. We see tremendous opportunities in providing cross border B2B digital payment solutions across parallel industries. We will continue to serve our long-tail B2B client base while exploring new markets and expanding into non-core business.”