Mastercard, Agoda to streamline B2B payments in travel industry

Mastercard is expanding its partnership with Agoda to enhance B2B payments in the travel and tourism industry, enabling digital travel platforms to make payments to hotels, airlines, suppliers and retailers worldwide.

The partnership will also address the challenges of legacy payment processes and drive innovation beyond traditional paper payments.

With B2B payments currently relying on manual and time-consuming processes such as paper invoices, Mastercard and Agoda recognize the urgent need to modernize these payment systems and streamline transactions between digital travel platforms, hotels, airlines , suppliers and dealers worldwide.

Through the exclusive issuance of Mastercard virtual credit cards, Agoda will be able to make and receive B2B payments worldwide where Mastercard is accepted. The expanded partnership will also focus on driving smoother and smarter end-to-end travel experiences, such as bringing timely and curated offers to Agoda customers using Mastercard data insights, joint marketing propositions for also enhance customer satisfaction, and loyalty rewards when booking with Agoda. using a Mastercard card.

Yunsok Chang, executive vice president, market development, Asia-Pacific, Mastercard, said: “Mastercard has been a long-standing partner with Agoda and is proud to expand on this decades-long partnership that leverages the power of collaboration to simplify the B2B payments and fortify defenses against fraud, all while enhancing the customer experience and fostering greater loyalty.”

Mai-Linh Bui, CFO of Agoda added: “Together, we are redefining the landscape of B2B payments in the travel and tourism sector. Recognizing the challenges posed by outdated payment processes, our collaboration aims to revolutionizing the way digital travel platforms interact with hotels, airlines, suppliers and retailers worldwide.