Navigating Payment Turbulence — Unraveling Payment Processing Challenges in the Travel Industry!

In an era where technology has seamlessly woven itself into the fabric of our daily lives, the travel industry stands at the intersection of innovation and complexity. Amidst the excitement of planning vacations and exploring new destinations, the intricate web of payment processing challenges often go unnoticed. In this comprehensive blog, we will delve into the nuances of payment processing in the travel industry, unraveling the complexities that both businesses and consumers encounter.

  1. Cross-Border Payment Friction —

One of the foremost challenges faced by the travel industry in payment processing is the complexity of cross-border transactions. As travelers jet off to explore new horizons, payments traverse international borders, encountering diverse currencies, regulations, and financial systems. This intricacy often leads to currency conversion issues, delayed transactions, and additional fees, leaving both consumers and businesses grappling with a less-than-optimal payment experience.

Solutions:

Multi-Currency Support: Implementing payment systems that seamlessly support multiple currencies can mitigate the impact of currency conversion issues, providing users with a transparent and hassle-free payment experience.

Regulatory Compliance: Staying abreast of and adhering to international financial regulations is crucial. Collaborating with payment processors well-versed in cross-border compliance can help navigate the complex regulatory landscape.

  • Fraud Risks and Security Concerns —

As online transactions surge, so do the risks associated with fraud and security breaches. The travel industry, with its high-value transactions and vast array of customer data, becomes a lucrative target for cybercriminals. From stolen credit card information to identity theft, the potential consequences of inadequate payment security measures are significant.

Solutions:

Tokenization: Employing tokenization technology can enhance security by replacing sensitive payment information with unique tokens. This minimizes the risk of data breaches and ensures that customer data remains protected.

Two-Factor Authentication (2FA): Implementing robust authentication processes, such as 2FA, adds an extra layer of security, making it more challenging for unauthorized individuals to gain access to sensitive information.

  • Dynamic Pricing and Transparent Payments —

The dynamic nature of pricing in the travel industry, with fluctuating fares and real-time availability, poses a unique set of challenges in payment processing. Consumers expect transparency in pricing, and any discrepancies or hidden fees can lead to dissatisfaction. Ensuring a seamless payment experience amidst the constantly evolving pricing landscape requires innovative solutions.

Solutions:

Real-Time Price Adjustments: Implement systems that dynamically adjust prices in real-time, ensuring that customers are charged accurately based on the latest information, and transparency is maintained throughout the booking process.

Clear Communication: Providing clear communication on pricing details, including taxes and fees, helps build trust with customers. Transparent payment processes contribute to a positive user experience and can lead to increased customer loyalty.

  • Mobile Payments and User Experience —

The ubiquity of smartphones has transformed the way people interact with businesses, including travel services. Mobile payments have become a cornerstone of the industry, but optimizing the user experience on mobile platforms presents its own set of challenges. From responsive design to intuitive interfaces, ensuring a seamless mobile payment experience is imperative for customer satisfaction.

Solutions:

Mobile-Optimized Interfaces: Designing user interfaces specifically tailored for mobile devices enhances the overall payment experience. Intuitive navigation and responsive design contribute to smoother transactions on smartphones and tablets.

Mobile Wallet Integration: Embracing popular mobile wallets and payment apps streamlines the payment process. Integrating options like Apple Pay, Google Pay, and others caters to the preferences of mobile-savvy travelers.

  • Integration with Emerging Technologies —

The rapid evolution of technology introduces both opportunities and challenges for the travel industry. Integrating with emerging technologies such as blockchain, artificial intelligence (AI), and machine learning (ML) can revolutionize payment processing but requires careful consideration and strategic planning.

Solutions:

Blockchain for Security: Leveraging blockchain technology can enhance security and transparency in payment transactions. Blockchain’s decentralized nature reduces the risk of fraud and ensures the integrity of financial transactions.

AI and ML for Fraud Detection: Implementing AI and ML algorithms can strengthen fraud detection mechanisms. These technologies can analyze patterns, detect anomalies, and adapt to evolving threats, providing a proactive approach to security.

  • Regulatory Compliance and Legal Complexities —

The travel industry operates on a global scale, subject to a myriad of regulations and legal frameworks. Ensuring compliance with diverse international and local laws poses a significant challenge for payment processors and businesses alike. Failure to navigate these regulatory waters diligently can result in legal consequences, fines, and reputational damage.

Solutions:

Legal Consultation: Collaborating with legal experts specializing in international payment regulations can provide invaluable insights. Establishing a robust legal framework ensures that payment processes align with the various compliance requirements across regions.

Regular Compliance Audits: Conducting regular compliance audits helps identify any gaps or changes in regulations. Staying proactive in adapting to evolving compliance standards minimizes the risk of legal complications.

  • Chargebacks and Dispute Resolution —

Chargebacks, often stemming from customer dissatisfaction, unauthorized transactions, or fraud, are a common concern for the travel industry. Disputes can lead to financial losses, strained customer relationships, and added administrative burdens. Resolving chargebacks efficiently is crucial to maintaining a positive payment ecosystem.

Solutions:

Effective Communication: Establishing clear communication channels with customers can prevent misunderstandings that may lead to chargebacks. Timely and transparent communication regarding policies, refunds, and dispute resolution can foster trust.

Robust Documentation: Maintaining thorough documentation of transactions, including booking confirmations, terms of service, and customer communications, strengthens the merchant’s position in case of disputes.

  • Infrastructure Scalability and Reliability —

The travel industry experiences fluctuations in demand, especially during peak seasons and special events. Payment processing systems must be scalable to handle sudden spikes in transactions without compromising speed and reliability. Downtime or processing delays can have severe consequences, affecting customer satisfaction and revenue.

Solutions:

Cloud-Based Solutions: Utilizing cloud-based payment processing systems allows for scalability and flexibility. Cloud infrastructure can handle increased transaction volumes during peak periods, ensuring a seamless payment experience for customers.

Redundancy and Failover Mechanisms: Implementing redundancy and failover mechanisms in payment systems ensures uninterrupted service. Redundant servers and backup systems can mitigate the impact of hardware failures or other technical issues.

  • Collaboration and Interoperability —

The travel industry consists of a complex ecosystem of service providers, including airlines, hotels, travel agencies, and payment processors. Ensuring seamless collaboration and interoperability between these entities is essential for a cohesive payment experience. Incompatibility or communication breakdowns can lead to inefficiencies and errors in transaction processing.

Solutions:

Standardized Protocols: Adhering to industry-standard protocols for data exchange facilitates interoperability between different components of the travel ecosystem. This ensures that information flows seamlessly across various platforms.

Collaborative Partnerships: Establishing strong partnerships and collaborations between travel service providers and payment processors enhances communication and interoperability. Shared platforms and integrated systems can streamline payment processes.

Conclusion —

In conclusion, the payment processing challenges faced by the travel industry are multifaceted, requiring a holistic and strategic approach. From cross-border complexities to security concerns and regulatory hurdles, addressing these challenges demands a combination of technology adoption, regulatory compliance, and a commitment to customer satisfaction.

The industry’s future success hinges on its ability to adapt to emerging technologies, foster collaboration, and prioritize the security and transparency of payment processes. As we navigate the ever-evolving landscape of global travel, overcoming these challenges will not only enhance the efficiency of payment processing but also contribute to a positive and memorable experience for travelers worldwide. The journey toward a seamless payment horizon in the travel industry is ongoing, marked by innovation, resilience, and a dedication to elevating the overall travel experience.

Source: Pulse

Navigating the Future: Empowering Travel and Tourism Through Online Payments

18 Apr 2024 – By Bryan Obala.

In the fast-evolving landscape of travel and tourism, the role of online payments has become more vital than ever before. Projections indicate that by 2033, the industry will soar to a staggering $15.5 trillion, contributing significantly to the global economy bloomberg. Particularly in developing markets across Africa, where new destinations are emerging as hotspots, the potential for growth in the travel industry is immense.

To capitalize on this growth, travel merchants must align with consumer expectations by offering seamless and reliable payment systems, with online sales projected to constitute 74% of total revenue by 2027. Here are five essential strategies that can help travel merchants meet these increasingly high consumer demands:

  1. Transparency: Be clear and specific about the payment options available to consumers. Transparency builds trust and enhances the buying experience.
  2. Security: In an era of burgeoning travel e-commerce, robust cybersecurity measures are indispensable. Offering secure payment options helps instill confidence and protects against fraud, which saw a concerning 156% increase in the global travel and leisure industry in 2021.
  3. Convenience: Tailor payment options to meet consumer preferences. Personalized services, including currency options and bundled offerings like travel insurance, enhance convenience and satisfaction.
  4. Reliability: High authorization rates are key indicators of success. Optimizing authorization rates not only drives incremental revenue but also fosters customer loyalty and repeat business. Even a slight improvement in authorization rates can translate into significant additional revenue, enabling businesses to fund expansion and innovation initiatives.
  5. Flexibility: Embrace Buy Now, Pay Later options to accommodate the diverse financial needs of travelers. Offering flexible payment solutions encourages purchase completion and enhances the overall shopping experience.

Looking ahead, the future of travel and tourism is brimming with possibilities. As businesses chart their course forward, prioritizing transparency, security, convenience, reliability, and flexibility will be paramount. By embracing these principles, merchants can navigate the dynamic landscape of global travel and ensure that everyone reaps the economic benefits of this thriving industry.

Bridging the Gap between Fintech and Traveltech.

The integration of finance and technology, known as fintech, has revolutionised traditional banking and payment systems, transforming how we live, work and travel. Similarly, travel technology, or traveltech, has empowered travellers with convenient booking platforms and personalised experiences. It makes sense then that significant opportunity exists to bridge the gap between these two sectors to unlock their full potential — particularly in Africa.

Africa’s travel and tourism sector has immense growth potential. But a major hurdle that first needs to be overcome is the large percentage of the continent’s population who remain unbanked, particularly when it comes to facilitating payment for travel and tourism services. Additionally, there is a need to digitise existing products and services to enhance market access and the experience for all travellers and improve operational efficiencies for businesses operating in the sector.

From a fintech perspective, it is crucial to identify ways to facilitate transactions between businesses in the tourism sector and payment oversight entities. One successful example of this is mobile money, which has gained significant traction across Africa with platforms like M-Pesa in Kenya leading the way. Integrating mobile payment solutions into traveltech platforms can cater to the large unbanked population and provide convenient payment options for travellers throughout the continent.

Cross-border remittances already play a critical role in many African countries, as they heavily rely on payments made from the diaspora. Fintech can help here by facilitating affordable and convenient cross-border money transfers for travel purposes. Blockchain-based solutions, for instance, can reduce costs, improve transparency, and accelerate the speed of transactions, benefiting both travellers and their families.

Fintech platforms can introduce micro-investing or savings features specifically designed for travel purposes. By enabling individuals to save small amounts of money regularly, these platforms can help people build travel funds over time. Fintech solutions can also address the challenges of financial inclusion in Africa by leveraging alternative data sources for credit scoring and providing access to credit for individuals with limited formal banking history. This can empower more people to travel and support the growth of domestic tourism within the continent.

To better incorporate fintech into existing traveltech solutions, online travel agencies and digital travel platforms should consider integrating fintech solutions to streamline payment processes, provide secure transactions, and even offer financial services like micro-insurance or access to credit for travel expenses. Platforms like Airbnb, for instance, which have already disrupted the traditional accommodation industry could benefit from fintech integration to facilitate seamless and secure payment processes between hosts and travellers.

Africa’s rich natural and cultural heritage presents opportunities for sustainable tourism initiatives. Fintech can support impact investing in sustainable tourism by providing crowdfunding or investment platforms that connect travellers, local communities, and investors interested in supporting environmentally friendly and socially responsible travel projects. This could be realised through peer-to-peer lending or crowdfunding that supports the growth of alternative accommodation providers or local travel start-ups in Africa.

Loyalty programs are an essential tool for fostering customer loyalty and engagement in the travel industry. By leveraging fintech solutions, data analytics, and social impact initiatives, loyalty programs in Africa can enhance the customer experience. Personalised rewards based on local preferences can be integrated into mobile-first solutions, further driving customer retention, repeat bookings, and overall industry growth.

While there are significant benefits to integrating fintech and traveltech, it is crucial to address potential risks. Data breaches, identity theft, and unauthorised access to financial accounts are serious concerns that must be mitigated through robust security measures. Seeking guidance from mentors or professionals, implementing backup plans and alternative payment methods, prioritising data privacy, and complying with regulations are essential steps in managing these risks.

Regulatory compliance is another critical aspect to consider. Fintech and traveltech platforms must understand and adhere to relevant financial regulations, such as anti-money laundering (AML) and know-your-customer (KYC) requirements, to ensure compliance and build trust among users.

Moreover, the travel industry is susceptible to market volatility, geopolitical events, and natural disasters. To offset these risks, platforms must diversify their offerings, have contingency plans, and stay updated on market trends and advisories.

Access to capital can also be a challenge for fintech and traveltech solutions. Limited credit history or collateral may hinder entrepreneurs and businesses from accessing the necessary funds. It is important then to carefully evaluate fintech lending platforms and ensure alignment with financial capabilities.

Bridging the gap between fintech and traveltech holds immense potential for Africa’s travel and tourism sector. By incorporating fintech solutions into existing traveltech platforms, we can enhance payment processes, facilitate secure transactions, promote financial inclusion, and support sustainable tourism initiatives. However, it is vital to address potential risks and challenges through robust security measures, regulatory compliance, and contingency plans. With careful implementation and collaboration, fintech and traveltech can work together to unlock the full potential of Africa’s vibrant travel industry..

Source: bbrief.co.za

Etihad Airways Unveils Daily Service to Nairobi reconnecting East Africa with the UAE.

12 Apr 2024 – By Bryan Obala.

Etihad Airways is gearing up to reconnect East Africa with a brand-new daily service to Nairobi, slated to kick off on May 1, 2024.

In partnership with the Kenya Association of Travel Agents (KATA), Etihad Airways is pulling out all the stops for a spectacular launch event. This exclusive occasion will take place at the newly inaugurated JW Marriott Hotel, the tallest hotel in Kenya boasting an impressive 35 storeys.

This non-stop flight will whisk passengers from Etihad’s hub in Abu Dhabi to Nairobi, with departure scheduled for 9:05 and arrival at 13:15 local time. Return flights will depart Nairobi at 18:10, arriving back in Abu Dhabi at 00:20.

Operating this route will be the Airbus A320 aircraft, boasting both business and economy cabins to cater to diverse passenger needs.

Beyond simply facilitating travel, this service heralds a vital reestablishment of direct commercial connections between these two vibrant cities. It’s poised to catalyze a surge in cross-business collaborations and trade opportunities between the United Arab Emirates and Kenya.

Excited to embark on this journey? Tickets are already available for purchase via Etihad Airways’ website. Secure your seat now and get ready to explore the wonders of East Africa like never before!

Why Dubai

Dubai, as a global economic centre, offers a diverse range of options for business events across various budgets.

Complementing its broad infrastructure and venues, Dubai is truly a vibrant hub for innovation and knowledge sharing. From large-scale conferences to intimate meetings, the city accommodates events of all sizes against the backdrop of a rapidly growing knowledge economy.

Its strategic location provides unparalleled access to emerging markets, making it an ideal platform for discussing the latest developments and fostering sustainability. With a multicultural environment, seamless connectivity across the city and its airports, and a history of convening global gatherings, Dubai guarantees an empowering experience for delegates, enabling them to capitalise on networking opportunities and maximize connections in this dynamic city.

Choose Dubai for unmatched business events today.

Source: Visit Dubai.

Ethiopian Inaugurates the New Jinka Airport Terminal Ethiopian Continues to Renovate and Construct Domestic Airport Facilities.

Addis Ababa, April 3, 2024

Ethiopian Airlines Group, the largest airline group in Africa, inaugurates its Jinka airport project, unveiling a new terminal and support facility buildings. The new state-of-the-art airport terminal is now open for service, following a grand celebration held today in Jinka, one of the emerging cities in the South Ethiopia Regional State.

The two-and-a-half-year project covered the construction of a new terminal building having a total built-up area of 3,500 square meter, support facility building, and external facilities including exclusive VIP parking area and other facilities. Regarding the inauguration of the new Jinka Airport, Ethiopian Airlines Group CEO Mr. Mesfin Tasew said, “We are truly delighted to witness the completion of the brand new Jinka Airport Terminal Building project that has been under construction for the last few years. As a national flag carrier, Ethiopian is playing its part in the country’s aviation transformation and Jinka is our latest contribution to Ethiopia’s modern aviation facility.

The new Jinka airport will further offer a comfortable travel experience to/from the city thereby boosting trade and tourism in the region and beyond. Committed to enhancing customer experience, we will continue to invest in renovation and upgrading of domestic airports.”

Following the finalization of the project with an investment cost of more than 8 million Euro for construction, Jinka Airport Terminal is now equipped with modern passenger service areas including departure and VIP lounges and other facilities that will enhance customer experience. The completion of the airport will help Ethiopian offer an upgraded customer services to its passengers to/from the city. It also creates a comfortable experience to tourists traveling to southern Ethiopia to visit the exotic people, culture, and nature of the region.

At its hub, Addis Ababa Bole International Airport, Ethiopian Airlines offers seamless transit and stopover services, creating an opportunity for passengers who have lay over to enjoy the beauty of Addis Ababa, the diplomatic capital of African.

About Ethiopian

Ethiopian Airlines Group (Ethiopian) is the fastest-growing airlines brand globally and the continent’s largest airline brand. In its seventy-seven years of successful operations, Ethiopian has become one of the continent’s leading carriers, unrivalled in efficiency and operational success. In addition to its main hub in Addis Ababa, Ethiopia, it is also pursuing its multi-hub strategy through hubs in Lomé, Togo with ASKY, in Lilongwe, Malawi with Malawi Airlines and in Lusaka, Zambia with Zambia Airways. Ethiopian commands the lion’s share of the African passenger and cargo network operating the youngest and most modern fleet to more than 150 domestic and international passenger and cargo destinations across five continents. Ethiopian’s fleet category consists of ultra-modern and environmentally friendly aircraft such as Boeing 737s, 777s, 787s, Airbus A350-900 and Bombardier Dash 8-400 double cabin with an average fleet age of seven years. In fact, Ethiopian is the first airline in Africa to own and operate most of these aircraft.

Having achieved its strategic plan (Vision 2025) ahead of time, Ethiopian is currently implementing a 15-year strategic plan called Vision 2035 that will see it become one of the top 20 most competitive and leading aviation groups in the world. As a multi-award-winning airline, Ethiopian has been champion in various coveted awards including Skytrax’s ‘Best Airline in Africa Award’ for six consecutive years among others. The airline has been a Star Alliance member since 2011 and has been registering more than threefold growth in the past 10 years.

For more at: www.ethiopianairlines.com

Email: CorporateCommunication@ethiopianairlines.com Contact: (251-11)517-8913/8165/8907

Dubai sees 18 percent rise in overnight visitors to 3.67 million in first two months of 2024.

The latest figures from the Dubai Department of Economy and Tourism (DET) revealed an annual increase of 18 percent in the number of visitors in the first two months of 2024. During January and February, Dubai received 3.67 million visitors, with 1.77 million visitors in January and 1.9 million visitors in February.

Origin of visitors

Western Europe was at the forefront of visitors to Dubai in the two months. Tourists from Western Europe constituted 21 percent of the total number of visitors to Dubai, or about 773,000 tourists. South Asia followed with 604,000 visitors, constituting 17 percent of the total number of tourists. Then came the Gulf Cooperation Council countries with 549,000 visitors, constituting 15 percent of the total.

Russia, the Commonwealth of Independent States and Eastern Europe ranked fourth, with 530,000 visitors, constituting 14 percent of the total number of tourists in Dubai. In fifth place, visitors from the Middle East and North Africa reached 448,000, constituting 12 percent of the total. Meanwhile, visitors from North and Southeast Asia recorded a share of 9 percent or about 340,000 visitors in Dubai.

The number of tourists arriving to Dubai from the Americas reached 240,000, making up 7 percent of the total. Meanwhile, the number of visitors from Africa reached 138,000, or about 4 percent of the total. Moreover, 53,000 visitors from Australia came to Dubai in January and February, making up about 1 percent of the total.

Hospitality sector surges

By the end of February, the number of hotel rooms in Dubai reached 151,269 in 826 establishments, compared to 148,450 rooms in 813 establishments by the end of February 2023. The average hotel occupancy in Dubai reached 87.1 percent, compared to 84.4 percent during the first two months of 2023. Meanwhile, the number of rooms booked exceeded 7.78 million, compared to about 7.28 million rooms during the first two months of 2023. Besides, the average length of stays reached 3.8 hotel nights during January and February 2024.

Notably, the number of 5-star hotel rooms in Dubai reached 52,118 in 161 establishments, accounting for 35 percent of the total number of hotel rooms. Meanwhile, the number of 4-star rooms reached 43,792 in 197 establishments, and the number of one- and three-star hotel rooms reached 29,037 in 275 establishments. The number of luxury hotel apartment rooms reached 13,764, and the number of medium-level hotel apartment rooms reached 12,558.

During the first two months of 2024, the average daily price of a hotel room in Dubai reached AED664, a 9 percent increase compared to AED609 during the corresponding period of 2023. Meanwhile, the average revenue from available rooms reached AED578, a 12 percent increase compared to AED514 in the first two months of 2023.

Source: Economy Middle East.

Exploring Innovations in IATA Payment Solutions for Travel Agents: Insights from the Inaugural Payments Summits.

30th March 2024

By: Bryan Obala

Membership & Communications, KATA

During the inaugural Payments Summits, the International Air Transport Association (IATA) provided a comprehensive overview of innovations in IATA Payment solutions. This presentation, led by IATA’s Country Manager East Africa, Agnes Mucuha, highlighted the organization’s Focus Africa initiative. This initiative is dedicated to maximizing aviation’s contribution to African development by enhancing services for passengers and shippers.

Focus Africa Initiative: The Focus Africa initiative, spearheaded by IATA, is geared towards delivering measurable improvements in six critical areas: safety, infrastructure, connectivity, finance and distribution, sustainability, and skills development. Of particular relevance to the Payments Summit discussion was the focus on finance and distribution, aiming to accelerate the implementation of secure, effective, and cost-efficient financial services, alongside the adoption of modern retailing standards.

IATA EasyPay (IEP): A significant aspect of the presentation centered on IATA EasyPay (IEP), an optional pay-as-you-go solution designed for travel agents. IEP provides a simpler and more secure method for transacting with airlines through the Billing and Settlement Plan (BSP). It’s noteworthy that IEP is a closed-loop electronic payment solution, voluntary in nature, and devoid of any charges, offering greater flexibility and choice for Accredited Travel agents to manage their business challenges.

From left: Agnes Mucuha, Country Manager East Africa, International Air Transport Association (IATA); Hamisi Hassan, Vice Chairman, Kenya Association of Travel Agents (KATA)

Advantages for Participants: IATA outlined the advantages of IATA EasyPay for participating Airlines and IATA Accredited Agents:

  • Voluntary: IEP is available to all IATA accredited agents, with the decision to use it resting with each agent. It does not intend to replace existing payment methods in the BSP.
  • Secure: IEP ensures security by requiring agents to fund their IATA EasyPay account. The system verifies fund availability at the time of ticket issuance, mitigating the risk of chargebacks for airlines.
  • Fast: IATA settles IEP amounts to airlines on a daily basis through existing BSP processes, ensuring prompt transfer of funds within 48 to 96 hours following ticket issuance.
  • Economical: With low transaction costs, IEP proves to be more cost-effective for airlines compared to credit card transactions.
  • Flexible: IEP transactions are secure, allowing agents to lower their financial security amounts with IATA and issue transactions outside their cash issuance capacity.

Expansion in Africa: An exciting revelation from the presentation was that the IATA EasyPay service is now available in 27 countries across Africa. Moreover, IATA is actively collaborating with authorities to expand into additional markets, demonstrating a commitment to support Africa’s aviation industry and modernize financial services and solutions across the continent.

In summary, IATA’s presentation at the Payments Summits provided valuable insights into the innovative strides being made in IATA Payment solutions, particularly through the introduction of IATA EasyPay. As the initiative gains momentum and expands its footprint across Africa, it promises to revolutionize financial transactions within the aviation sector, benefitting both airlines and travel agents alike.

Kenya Association of Travel Agents (KATA) Partners with Absa Bank Kenya and Visa to Introduce Enhanced Corporate Card Solutions.

28th March 2024

By: Bryan Obala

Membership & Communications, KATA

In a groundbreaking collaboration, Absa Bank Kenya, in conjunction with Visa, has unveiled the Visa Commercial Choice Programme, a pioneering Corporate Card solution aimed at members affiliated with the Kenya Association of Travel Agents (KATA). This innovative initiative promises a myriad of benefits including enhanced automation, flexibility, and improved cash flow management for travel agents across the country.

From left: Dr. Joseph Kithitu, KATA Chairman; Moses Muthui, Consumer Banking Director, Absa Bank; James Kabuthi, Head of Products and Solutions, East Africa, Visa

Under this strategic partnership, travel agents under KATA, representing a formidable network of over 300 travel agencies, stand to gain from streamlined payment solutions tailored specifically for business to business (B2B) transactions. These solutions are geared towards fostering efficient working capital management, operational effectiveness, and improved supplier relationships.

The Visa Commercial Choice Travel Programme, freshly introduced by Absa Bank, offers a plethora of advantages for travel agents within KATA. Notably, agents now have the option to conduct transactions in Kenyan Shillings or US Dollars, empowering them to effectively manage cash flows and optimize working capital. Furthermore, members can leverage the Visa Commercial Pay Virtual Card Platform to automate booking processes and access cutting-edge tools for data management and reconciliation, complete with an intuitive reporting feature for seamless monitoring.

In addition to the tailored Corporate Card solution, Absa Bank is also rolling out a revamped Absa Corporate Visa Card, equipped with enhanced features and flexibility to address the diverse needs of businesses. Through this card and the innovative Visa Commercial Pay Virtual Card Platform, businesses can exercise greater control over employee-initiated expenses and payments, thereby enhancing visibility and operational efficiency.

Commenting on the collaboration, Moses Muthui, Consumer Banking Director at Absa Bank, expressed enthusiasm, stating, “The collaboration between Absa Bank Kenya, Visa, and the Kenya Association of Travel Agents marks a significant milestone in our efforts to empower businesses and accelerate digital inclusion in this space with smarter and integrated payment solutions.”

Eva Ngigi-Sarwari, Visa Kenya Country Manager, echoed similar sentiments, highlighting the partnership’s commitment to innovation and service excellence. She emphasized, “By combining Visa’s global reach and advanced technology with Absa’s deep local market expertise, we are confident that this new payment solution will significantly enhance the way travel agents manage their transactions, providing them with a seamless, efficient and secure experience.”

Nicanor Sabula, CEO of KATA, lauded the collaboration, affirming its importance in catering to the specific needs of members and underscoring the commitment to industry-focused financial solutions.

From left: Dr. Joseph Kithitu, KATA Chairman; Moses Muthui, Consumer Banking Director, Absa Bank; James Kabuthi, Head of Products and Solutions, East Africa, Visa at the Launch of the Corporate Cards for Travel Agents

The Absa Corporate Visa Card offers a range of features including virtual and physical card options, granting customers the flexibility to adapt to various payment scenarios. Furthermore, it integrates seamlessly with Visa Commercial Pay, facilitating hassle-free payments to travel suppliers such as airlines and hotels while streamlining reconciliation processes.

With the launch of the Absa Corporate Visa Card, Absa Bank Kenya reiterates its dedication to innovation and excellence in client service. Leveraging cutting-edge technology and strategic partnerships, the bank continues to deliver solutions that resonate with the evolving needs of businesses in Kenya and beyond.

Sabre 2023 Data Breach Investigations Report.

The travel business today is facing an increased risk to their online security with a rise in cybercrime and phishing attacks. In addition, MFA is required for PCI DSS 4.0 and ISO 27001, SOC2 compliance. With the growing number of Industry standards that are required to mitigate risk, a robust approach to system security is critical.

How will Sabre Identify help you?

With an easy use of MobilePASS+ app you will be able to apply a one-time-passcode (OTP) to add an additional level of security to your Sabre access. This means that besides the usual Sabre credentials (EPR-PCC-Passcode) you will be prompted to input an OTP at sign-in to SRW360 or any Sabre secure sites (i.e.: Sabre Central).

This additional security will protect you from bad actor activities, preventing anyone that is able to gather your Sabre credentials to access the system without your authorization.

Product features

Sabre Identify works in conjunctions with MobilePASS+ applications, which may be downloaded in your device of choice. Once you request using Sabre Identify, you will receive instructions for easy download and enrollment for your user. Sabre Identify will mitigate unauthorized access, as even if someone is able to gather your credentials, accessing Sabre or Sabre secure sites will be limited to the access to your unique One-Time-Password.

To learn about Sabre Identify visit : Sabre or  contact marketing@sabron.com