(MENAFN- PR Newswire) SINGAPORE, May 26, 2024 /PRNewswire/ -- Nium , the global leader in real-time cross-border payments, announced today that HappyEasyGo , a leading online travel agency, has selected it for virtual card payments. Launched in 2017, HappyEasyGo has emerged as one of the fastest-growing flight and hotel booking platforms in Asia, with thousands of leisure and business travellers planning journeys on the platform each day. Virtual cards, issued by Nium, will be the digital standard for payments to HappyEasyGo's travel suppliers.
Boris Zha, CEO of HappyEasyGo, said, "Nium's payment solutions have been transformative for our operations. Their ability to issue virtual cards quickly and in multiple currencies has streamlined our payment processes, reduced costs, and enabled us to offer better service to our customers. We look forward to continuing our work with Nium as we expand our business to more parts of the globe."
Nium's comprehensive suite of payment solutions is tailored to address the unique challenges faced by online travel agencies (OTAs) and travel intermediaries, ensuring faster, more secure transactions that enhance profitability and streamline operations. This year, Nium reported a 110% increase in revenue from its travel business in the APAC region, highlighting the growing demand for reliable and efficient payment solutions in the dynamic travel industry. In 2023, APAC had reached 65% of pre-pandemic travel levels, making it one of the world's fastest-growing travel markets.
"Our growth in the APAC region is a testament to our commitment to providing innovative payment solutions that address the specific needs of the travel sector," said Spencer Hanlon, Global Head of Travel Payments at Nium. "Our partnership with HappyEasyGo shows how our advanced payment solutions can drive success for online travel agencies by improving operational efficiency and profitability."
One of Nium's key offerings is the ability to fund and issue virtual cards in over 20 local currencies, significantly lowering foreign exchange conversion costs and improving acceptance worldwide. This capability provides a critical advantage for travel businesses operating in multiple markets, including HappyEasyGo.
Nium's travel payment solutions also include the ability to settle invoices within two days instead of the industry standard 30 days, and customize payment account parameters, giving businesses end-to-end control over cash flow and enhancing revenue generation while reducing margin erosion.
With a robust portfolio of Mastercard and Visa certified virtual cards, Nium's OTA and travel intermediary customers can provide more flexibility and choice for their hotel and airline partners, strengthening supplier relationships and in turn driving better experiences for travellers around the world.
About HappyEasyGo
HappyEasyGo embarked on its journey in the Indian travel industry in 2017, bringing affordable flight booking solutions for Indian business and leisure travellers. After witnessing rapid growth in the flight booking space, the company forayed into the hotel booking genre to add to the convenience of its customers and help them save more while travelling. HappyEasyGo has become India's leading online travel aggregator in an extremely short span. Through its various platforms, HappyEasyGo offers domestic and international flight tickets along with thousands of hotels across India. The strength of HappyEasyGo lies in providing the best flight and hotel booking deals along with a hassle-free experience to its customers. Surpassing all expectations, the company has built a vast customer base of business and leisure travellers who frequently avail its services. HEG's seamless platforms help customers search, compare, choose and book from a wide range of flight ticket and accommodation solutions. The HappyEasyGo mobile applications for Android and iOS devices have been downloaded more than a million times and are highly rated on both Google Play and AppStore .
About Nium
Nium , the global leader in real-time, cross-border payments, was founded on the mission to deliver the global payments infrastructure of tomorrow, today. With the onset of the global on-demand economy, its payments infrastructure is shaping how banks, fintechs, and businesses everywhere collect, convert, and disburse funds instantly across borders. Its payout network supports 100 currencies and spans 220+ markets, 100 of which in real-time. Funds can be disbursed to accounts, wallets, and cards and collected locally in 35 markets. Nium's growing card issuance business is already available in 34 countries. Nium holds regulatory licences and authorizations in more than 40 countries, enabling seamless onboarding, rapid integration, and compliance – independent of geography. The company is co-headquartered in San Francisco and Singapore.
Logo -
SOURCE Nium
MENAFN26052024003732001241ID1108259574
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.