Just You launches travel trade solo experience

Just You launches travel trade solo experience

Friday, 21 October 2016 14:00

Just You h...

Spontaneous people are happier according to Snaptrip survey

Spontaneous people are happier according…

Friday, 21 October 2016 11:00

Spontaneous people are often believed to lead more exciting or glamorous lifestyles and a new study has confirmed that they are happier in all aspects of their lives.

Top Brighton attractions on Combi-Saver tickets for half term

Top Brighton attractions on Combi-Saver …

Friday, 21 October 2016 09:00

Visitors to Brighton this October half term can save up to 20% on its top three paid-for attractions with combination tickets now available for British Airways i360, SEA LIFE Brighton...

Free cabin upgrades with Cosmos Tours

Free cabin upgrades with Cosmos Tours

Thursday, 20 October 2016 14:00

There still’s time for agents to book a Croisieurope river cruise for their customers with a free cabin upgrade on a range of river cruises throughout Europe, when booked with...

Last minute autumn breaks available at Haven

Last minute autumn breaks available at H…

Thursday, 20 October 2016 11:00

Agents can still give their customers a last minute family break this autumn from £99 when booking a Haven holiday between now and November 5.

Skiers urged to head east for best piste costs reveals new report

Skiers urged to head east for best piste…

Thursday, 20 October 2016 08:00

Cash-conscious skiers can avoid the slippery slope of higher prices for their annual downhill trip by heading to ski resorts in Eastern Europe.

Design an anniversary poster for DFDS competition

Design an anniversary poster for DFDS co…

Wednesday, 19 October 2016 14:00

Ferry operator, DFDS, is putting out a call to professional and amateur artists to create a poster that will be used in their 150th anniversary celebrations this year.

Savings on worldwide adventures with Explore

Savings on worldwide adventures with Exp…

Wednesday, 19 October 2016 11:00

Explore has launched a new collection of worldwide adventures with a launch offer of up to 10% discount on all new trips booked by November 7.

New route to Seattle makes it one to watch for 2017

New route to Seattle makes it one to wat…

Wednesday, 19 October 2016 09:12

Seattle is expected to be one of the fastest growing US destinations for UK travellers next year with a Virgin Atlantic direct non-stop daily flight launching March 2017, new hotel...

Air Transat launches 2017 programme with increased connections across Canada

Air Transat launches 2017 programme with…

Tuesday, 18 October 2016 14:04

Air Transat has expanded its programme of flights from the UK to Canada with increased capacity and connections for travel in 2017.

Oceania Cruises reduces single supplement fares

Oceania Cruises reduces single supplemen…

Tuesday, 18 October 2016 14:02

Oceania Cruises has launched a reduced single supplement promotion for solo travellers, with guests offered single supplements fares from 25% on seven itineraries, booked before December 31.

Mall of America welcomes arrival of MythBusters

Mall of America welcomes arrival of Myth…

Tuesday, 18 October 2016 14:00

Running throughout autumn until January 15, 2017, visitors can ignite their curiosity and discover whether they can really huff and puff to blow a house down; if running in the...

Emirates to launch new daily service to Fort Lauderdale

Emirates to launch new daily service to …

Monday, 17 October 2016 11:00

Emirates has announced that it will launch a daily service between Dubai and Fort Lauderdale-Hollywood International Airport, on December 15, serving the South Florida area, including Fort Lauderdale, Miami and...

New tours in UK & Europe from Back-Roads Touring

New tours in UK & Europe from Back-R…

Monday, 17 October 2016 08:42

Small group tour specialist Back-Roads Touring has launched its summer 2017 brochure to reveal a unique line up of new itineraries in Switzerland, Scandinavia, the Baltics, France, Iberia and Russia.

Star studded cruise line up from CMV in 2017

Star studded cruise line up from CMV in …

Friday, 14 October 2016 10:16

Cruise & Maritime Voyages has announced five star-studded cruises for 2017 following the arrival of its new main brochure.

Non-stop flights to Manchester from SIA

Non-stop flights to Manchester from SIA

Friday, 14 October 2016 10:11

Singapore Airlines will fly non-stop between Singapore and Manchester from October 30 as part of its northern winter schedule.

New payment technology could save travel businesses costs and time.


In 2013, it was estimated that two out of five travel agencies had adopted virtual payments. This is a great reflection of the progressive nature of the sector and its willingness to embrace new technology.

However, the majority of supply chain payments continue to take place utilising more traditional mechanisms such as BACS, Swift, Credit and Prepaid cards and indeed e-wallets such as PayPal. This mix of payment channels can become an administrative burden and adds an additional level of financial complexity, with the cost of payments changing by channel and supplier.

Whilst there is undoubtedly increasing noise around crypto currencies such as BitCoin, we don’t believe that this will become a mainstream payment vehicle in the near future. We believe that rather than looking to new payment channels, the most significant short term opportunity for the travel industry is to use technology to consolidate the existing channels and processes to drive efficiency and cost savings.

At Tuxedo, we are currently working to develop and implement a web based portal that will enable travel businesses to carry out supplier payments across existing channels from a single point. This will mean that organisations will no longer need to log into different systems to make bank payments, card payments, virtual payments etc. They will be able to log into one platform and make the payment using the most appropriate channel for them. As well as offering clients a much more streamlined process, we believe that we will also be able to offer businesses an opportunity to bring down the real cost of payments as well. Using a mix of our own prepaid and virtual payment solutions, alongside leading third party payment channels, we anticipate we may be able to bring real costs down for many organisations by as much as a quarter, as a result of the volume of payments being processed driving cost/price efficiencies.

In 20132 over 143 million transactions were generated by agents and The World Travel and Tourism Council anticipates that travel and tourism will reach a global value of $10.8 trillion by 2018 2 . As such, this level of saving, both in real terms and administrative costs would be significant in an industry that is seeing increasing downward pressure on margin.

The travel sector has already demonstrated a forward thinking approach through its adoption of virtual payments, and so the emerging path toward one streamlined payment portal will be a natural, progressive step for the industry.

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