MasterCard has partnered with Glyde Payments, a South African business-to-business (B2B) payments, digital banking and card platform, to help travel businesses streamline supplier payments across Southern Africa.
The solution is powered by the MasterCard Wholesale Programme, enabling travel agencies and intermediaries to issue a unique virtual card for each booking. Over 400 000 suppliers across multiple countries use the programme for B2B travel payments.
The partnership marks the first issuance of a MasterCard Wholesale Programme card in Southern Africa, targeting a sector projected to contribute R659.8 billion to SA's economy, equivalent to 8.9% of gross domestic produce.
The solution improves payment efficiency by increasing working capital flexibility and automating payment flows between travel agencies and suppliers.
“Businesses behind every journey deserve payment tools designed for the way they work,” says Darryl Adriaanzen, country manager for Southern Africa at MasterCard. “By bringing the Mastercard Wholesale Programme to the region, we are providing travel companies with a safer and more transparent way to pay suppliers globally.”
Travel companies across Southern Africa can now issue a virtual card for every transaction with enhanced control, reporting and compliance, says Paulina Klotzbücher, CEO of Glyde Payments.
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