Barclaycard partners with Amadeus to optimise B2B payments in the travel sector
- Amadeus’ customers will benefit from integrated access to Barclaycard’s virtual cards solution, Precisionpay
- Virtual cards are a fast, secure and convenient way to manage supplier payments, offering businesses greater control and oversight of spend
- Precisionpay also allows businesses to pay suppliers up-front without affecting cashflow or tying up important capital.
Barclaycard, which has been helping make businesses successful for more than 50 years, has announced a partnership with Amadeus, leading provider of advanced technology solutions for the global travel industry, to integrate Precisionpay into Amadeus’ B2B Wallet payment solution.
Virtual cards are a fast, secure and convenient way to manage supplier payments. The technology allows businesses to generate single-use digital cards, providing greater control and oversight of spend. Because each card is linked to a specific purchase, transactions can be automatically reconciled, saving finance teams huge amounts of time and effort compared to traditional methods.
Another advantage of Precisionpay, similar to a standard corporate credit card, is the ability to pay suppliers up-front without affecting cashflow or tying up important capital. This can help customers build stronger relationships with their suppliers.
One Amadeus customer that has already benefited from the integration is Flight Centre, a travel agency with over 80 UK high street stores, specialising in flights, holidays and tailor-made journeys.
Adam Murray, Chief Financial Officer, Flight Centre Travel Group, EMEA, said:
“Using the Amadeus B2B wallet with Barclaycard allows our agents to pay for all spend types through a streamlined process. As the payments are integrated in our core system, the B2B Wallet means we can implement new teams quickly and scale up across Europe as we expand.”
Bart Tompkins, Managing Director, Payments, Amadeus, said:
“Payments is not a one-size-fits all business. That’s why we developed the B2B Wallet concept, which gives travel agencies access to a range of different payment options in a single link. The addition of Barclaycard brings greater choice and deepens our credit offer, enabling our travel agencies to better manage their cashflow.”
David Price, MD of Client Coverage at Barclaycard, said:
“Since launching the UK’s first corporate credit card over 50 years ago, Barclaycard has been pushing the boundaries to create payment solutions that help make businesses more successful.
“While cashflow remains one of the main challenges for any growing business, we know that travel agencies in particular have an ongoing need to make up-front purchases before they themselves get paid. This integration with Amadeus will be another way to help travel agencies take control of their cashflow and become even more competitive.”
Notes to editors
More information about Amadeus’ B2B wallet:
Amadeus B2B Wallet is a flexible one-stop-shop solution for travel agencies to pay their suppliers. With a single connection, travel agencies have access to multiple payment options, helping travel agencies to maximise profits by earning rebates, avoiding surcharges and maximising their cashflow.
More information on Barclaycard Precisionpay: https://www.barclaycard.co.uk/business/cards-for-business/corporate-solutions/virtual
For further information, please contact Oliver Stevenson at Barclaycard on email@example.com or +44 207 116 3837.
Travel powers progress. Amadeus powers travel. Amadeus’ solutions connect travelers to the journeys they want through travel agents, search engines, tour operators, airlines, airports, hotels, cars and railways.
We have developed our technology in partnership with the travel industry for over 30 years. We combine a deep understanding of how people travel with the ability to design and deliver the most complex, trusted, critical systems our customers need. We help connect over 1.6 billion people a year to local travel providers in over 190 countries.
We are one company, with 16,000 employees across 70 offices. We have a global mindset and a local presence wherever our customers need us.
Our purpose is to shape the future of travel. We are passionate in our pursuit of better technology that makes better journeys.
Amadeus is an IBEX 35 company, listed on the Spanish Stock Exchange under AMS.MC.
To find out more about Amadeus, visit www.amadeus.com.
Barclaycard, part of Barclays Bank PLC, is a leading global payment business that helps consumers, retailers and businesses to make and take payments flexibly, and to access short-term credit and point-of-sale finance. In 2018 we processed nearly £268bn in transactions globally.
Barclaycard is a pioneer of new forms of payment and is at the forefront of developing viable contactless and mobile payment schemes for today and cutting-edge forms of payment for the future. We also partner with a wide range of organisations across the globe to offer their customers or members payment options and credit.
Follow us on Twitter @BarclaycardNews