In the travel industry, the lack of technology can slow down the payments between travel agencies and hotels: operations can take up to 90 days, through bank transfers, and multiple email approvals. Reducing this friction is essential to improve efficiency and deliver a better customer experience. 

This contrast was the starting point of the Bavel Travel Summit session moderated by Marta Cid, Head of Sales, Travel Sellers EMEA at Outpayce from Amadeus, alongside two expert voices: Gisella Molla, Managing Director at Business Travel Centre, and Xavier Croix, Head of Payment and Collection Strategy at Grupo Piñero. 

The travel agency perspective: security and automation 

Business Travel Centre, led by Gisella Molla, generates 90% of its revenue from business travel and MICE (meetings, incentives, conferences, and exhibitions), and the remaining 10% from leisure trips for employees of its corporate clients. 

Gisella explained how their processes have evolved. Previously, they made payments using various corporate cards but faced fraud issues and tedious procedures. After several incidents, they decided to try Outpayce’s B2B Wallet, and the change was significant. Today, most of their payments to hotels and airlines are managed through this solution, which provides automation, security, and profitability thanks to cashback. 

“The team is delighted with Outpayce’s B2B Wallet. We pay hotels and airlines more securely and efficiently,” said Gisella. 

The hotel perspective: volume and costs 

Xavier Croix, from Grupo Piñero, explained the complexity of managing payments and collections in a group that includes several hotel brands, such as Bahía Principe Hotels & Resorts, and the tour operator Soltour. 

Xavier described the group’s two scenarios: 

• In the hotel segment, which handles large volumes, virtual cards and transfers are used for collections. 
• In the tour operation, corporate cards and transfers dominate payments. 

The main friction point in the hotel segment is the commissions on virtual cards, which reduce already tight margins. However, as a tour operator, these cards are attractive because of the rebate (refund of part of the commission) they provide, helping recover some of what is lost on the hotel side. This creates a constant dilemma. 

“In hotels, when we collect with a virtual card, it hurts. The commission reduces margins that are already tight,” Xavier commented. 

How to bridge the gap? A shared vision 

Xavier noted: “The goal should be to offer a service where rebate is not the only argument for working with one client or another, but where the service itself is good. And here we need technology and everyone’s support.” 

Gisella agreed on the need to find more balanced formulas that benefit all parties. She emphasized: “Although there are innovative solutions, there are still major challenges in costs and conditions that require cooperation and creativity.” 

Marta concluded: “Ultimately, the main friction point is costs, but the goals are shared: security, transparency, efficiency, and delivering the best possible experience to the traveler.”  

Fortunately, technology is already paving the way. Solutions such as automated B2B payments, virtual wallets, and reconciliation tools help reduce processing times, minimize risks, and improve profitability. The future of the industry lies in collaboration and innovation, and every step toward digitalization brings us closer to a more agile and balanced ecosystem for all. 

La entrada Two sides of the same coin: payments between travel agencies and hotels se publicó primero en Voxel - Blog.

The travel industry is inherently global, with businesses often operating across multiple currency zones. Even businesses that focus on a single region often have to manage inbound and outbound payments in different currencies, highlighting the complexity of financial operations in this sector.

At the Bavel Travel Summit 2024, Tiago Coimbra, Account Director Travel at Modulr; Severin Gerstenkorn, Strategy Manager at Pliant; Mike Carlo, CEO at XanderPay; Coco He, Global General Manager at Sunrate; and Alfredo Stefani, Director of Partnerships at Voxel; shared their insights into the complexities of cross-border B2B payments and the solutions shaping the future of the industry.

Cost, speed and transparency: key pain points 

When it comes to overseas expansion, “cost is probably the biggest pain point that travel companies experience”, noted Alfredo Stefani. In terms of travel agencies, for example, a European agency might benefit from cost-effective SEPA (Single Euro Payments Area) transfers for regional transactions, but may face significantly higher fees when dealing with suppliers in countries like Turkey or the UK, shared Severin Gerstenkorn.

In this regard, Coco He pointed out that, for example, in the case of a company that makes a payment to Thailand from Europe, there are usually two costs. One is the bank transaction fee, and the other is the margin. This type of cost is not usually that transparent for the payer. “The markup can be especially significant for small and medium-sized businesses, if they pay a small amount but add costs frequently”.

Additionally, speed becomes a critical factor; while European transfers are often instant or same-day, international payments can take several days to process, said Severin.

Mike Carlo highlighted how misinformation in the hotel sector leads to inefficiencies. Many hotels operate in the local currency and USD, often having suppliers pay in USD and converting the funds at banks, incurring a 3-4% margin. “Companies frequently accept these high costs as normal, unaware of potential savings through optimised payment strategies”, he stated.

The role of technology in addressing Cross-Border B2B payments 

Modern payment solutions are transforming how travel businesses navigate these issues, and are helping to make the industry more efficient. In terms of costs, Severin Gerstenkorn explained that an important aspect to consider is the fixed rate. Unlike SWIFT (Society for Worldwide Interbank Financial Telecommunications) transfers, whereby the amount sent must match the amount received, and often require specialist providers that are not available in every country, virtual credit cards are widely accepted globally. They also offer an instant payment method, ensuring timely payments to suppliers.

Tiago Coimbra shared an example of an online travel agency (OTA) that transitioned to virtual card payments. The switch streamlined their reconciliation process, reducing the workload for finance teams and unlocking valuable time for strategic tasks.

However, Mike Carlo emphasised that virtual cards are not a one-size-fits-all solution. Regional regulations, cultural differences, and varying levels of acceptance mean businesses must tailor their payment strategies to each market:  

“Another advantage for companies working with payment provider solutions is that they can ensure regulatory compliance”, commented Tiago Coimbra. 

The need for education and collaboration

An overarching theme of the debate was the importance of educating travel companies about their payment options. Smaller travel agencies, in particular, may lack awareness of cost-effective tools such as virtual cards or integrated platforms that simplify multi-currency transactions.

Panellists stressed the need for collaboration between payment providers and companies in the travel industry. By working closely with their partners, businesses can better understand their payment flows, reduce hidden costs and adopt a portfolio approach to B2B payments.

As the travel industry continues to expand into new markets, there’s no universal solution for managing cross-border payments. Instead, companies must develop a diversified strategy, leveraging a mix of providers and tools to meet regional needs. For example, Modulr, Pliant, XanderPay and Sunrate are part of the Bavel platform, the ecosystem that integrates the entire Voxel partner network to provide valuable services to tourism companies.

Whether it’s virtual cards, localised payment methods or integrated platforms, the key lies in choosing solutions that balance cost, speed, and flexibility. “Addressing the cost of doing business isn’t just about savings—it’s about unlocking growth potential in an increasingly connected world”, stated Mike Carlo.

La entrada Overcoming the Challenges of Cross-Border B2B Payments se publicó primero en Voxel - Blog.

We explore one of the emerging topics in the travel sector: how instant payment networks are transforming B2B payments. The convergence of technology and payments offers enormous opportunities like more flexibility and efficiency but also presents significant challenges in a rapidly evolving environment.

Instant payments in the B2B travel space

In the area of payment innovation, although virtual credit cards (VCCs) remain the most widespread method, instant payments represent a good example of technological progress and offer another option for business-to-business transactions.

An instant payment is a payment method that enables transactions to be settled within seconds. Traditionally, sending payments, especially across borders, could take days or even weeks due to the involvement of multiple correspondent banks. Instant payments eliminate this delay, allowing money to be transferred and settled almost immediately, regardless of whether the transaction is local or international.

Instant payments are not just a trend but a significant shift in how businesses operate, especially in the travel sector. Such change is driven by the increasing demand for real-time transactions, improved cash flow management, and the need to eliminate the inefficiencies of traditional banking methods.

The growing importance of instant payments

In the context of the Bavel Travel Summit, an event specializing in B2B payments organized by Voxel, we discussed this topic. The conversation included the participation of Vivian Dixon (Global Director Cross-Border Solutions at Visa), Yago Casasnovas (Head of Payments, Fraud Prevention and Distribution at Air Europa), Carlos Fernández (CEO of Quadrant TravelTech) and Borja Risueño (Sales Director at Voxel).

Vivian Dixon shared VISA’s vision on instant payments: “We want to be the network of networks. We’ve been heavily investing in cross-border solutions and instead of having different banks holding all those physical currencies around the world, which takes a lot of time and is a very expensive operation, you can do that using our virtual accounts.”

In this excerpt from the talk, Vivian identifies what she believes is the biggest trend in B2B payments, which has to do with the consumerization of B2B payments:
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Approach for the airlines and small and medium travel agencies

For Air Europa, embracing new payment technologies is not just about staying competitive—it’s about creating flexibility and improving efficiency. Yago Casasnovas highlighted the challenges airlines face with traditional payment methods: “The relationship between airlines and travel agencies is very specific. We’re looking for new possibilities in the realm of payments and not being limited to the current solutions.”

In the case of travel agencies, there is also a lot of ground to cover. Carlos Fernández said: “In Spain alone, there are over 4,000 travel agencies handling more than 5 billion interactions annually without access to digitalization or new payment methods. Instant payments could be more useful for them than for larger players.”

Carlos stressed that many small and medium agencies lack the resources to manage deposits, handle multi-day bank transfers, or access dynamic rates. By introducing instant payments, Quadrant Travel Tech aims to democratize payments innovation to those companies, enabling them to compete effectively within the market.

The use of instant payments in companies such as Air Europa and Quadrant Travel Tech is possible through a B2B payment channel such as Bavel Pay from Voxel, which is connected to VISA. In fact, these companies are already collaborating to offer greater speed, transparency and boost cash flow management for companies in the sector.

La entrada Instant payments: transforming B2B transactions in the travel sector se publicó primero en Voxel - Blog.

Within the changing panorama of B2B payments in the travel sector, the most significant trends for the upcoming months are being shaped by automation, security, and adaptation to new realities. We’ve spoken with several industry experts to find out what we can expect in the short and medium term.

Automation and simplification of collection processes

According to Pol Payet, Hotels & Tourism eCommerce BDM of Comercia Global Payments, there’s a growing demand from tourism suppliers to automate collection and reconciliation processes, especially with the use of virtual credit cards. Pol highlights that while this method ensures safe collection, it also implies an additional administrative charge. That’s why solutions that facilitate automated card processing will be key in the upcoming months and years, thereby relieving suppliers from tedious tasks that are subject to mistakes, which provide zero value.

In this regard, Payet also mentions the emerging trend in collection orchestration. There are already many companies that manage multiple purchasers and payment service suppliers to optimize costs and ensure continuity of service. We will soon see how this technology, initially adopted by large enterprises, will extend to smaller customers.

Adaptation and flexibility

Severin Gerstenkorn, Strategy Manager of Pliant, points out that many companies in the travel industry are focusing their efforts on automating and improving processes to strengthen their resilience in the event of future crises. According to Gerstenkorn, the ability to automate payments not only improves efficiency, it also increases the industry’s ability to adapt.

Gerstenkorn also highlights how, due to the changing financial environment, many travel agencies are seeking more accessible credit lines. The optimization of working capital becomes crucial, and companies resort to virtual credit card (VCC) suppliers and banks in search of attractive financial solutions.

In this regard, with the increase in international travelers, the implementation of currency exchange solutions is on the rise. Companies in the travel industry are looking for options to efficiently exchange and hedge currencies, which sets a major trend for this upcoming year.

Payment method diversification

Maria Sellar, General Manager of Travel Solutions at Terrapay, notes the importance of diversifying payment methods. In an environment where some tourism suppliers do not accept virtual cards, bank transfers become essential. In this regard, Terrapay offers global borderless payment solutions, thereby efficiently facilitating international transactions.

Lastly, Jens Jacobsen, Head of Account Development at Pax2Pay, emphasizes the importance of transparency and variety in payment options. For companies in the travel industry, clear communication on the reasons behind the choice of payment methods and currency offerings are key for building solid relations between parties.

Importance of payment channels

In order to guarantee automation, diversification, transparency, and above all, innovation, a few years ago Voxel created Bavel Pay, the first payment manager of the industry to create a specific payment channel, distinguished from the booking channel.

Bavel Pay offers a broad ecosystem of payment service suppliers and value‑added services through a single connection for the purpose of automating all back‑office processes and consolidating data and documents in a single technology platform.

To summarize, the travel sector is evolving towards greater automation, diversification, and transparency in B2B payments. Companies that follow these trends will be better positioned to face future challenges and capitalize on emerging opportunities in upcoming years.

La entrada Trends in B2B payments: automation, diversification, and transparency se publicó primero en Voxel - Blog.

The seventh edition of the Bavel Travel Summit reaffirms itself as a benchmark event, once again making Barcelona the meeting place for leaders of the travel sector and B2B (business to business) payments.

On the 14th and 15th of June, the Bavel Travel Summit brought together more than 160 travel industry professionals from 16 different countries. Those attending the Summit had the opportunity to experience a unique event in the sector, mixing presentations, round tables as well as participating in networking and “FUN-working” activities.

In total, 18 industry leaders participated in 13 conferences and debates, analyzing the most recent and significant trends experienced by the sector. 63% of those attending were directors and more than 80 meetings were confirmed in the speed networking sessions.

10 sponsors participated in the Bavel Travel Summit 2022, who made the event possible. Mastercard, Kantox, Amadeus, Nium, XanderPay, Wex, Diners Club International, Visa, Pax2Pay and Nuvei make up this group.

The need to reunite the industry

Given the circumstances caused by the pandemic as well as the stoppage in the activity experienced by many industries and especially the tourism industry, events such as the Bavel Travel Summit are an opportunity to give the sector a boost. In this case, this is all the more significant, coinciding once again with a boom in tourism.

In this sense, Spencer Hanlon, Global Head of Travel Payments, Head of EME (Europe and the Middle East) at Nium, commented: “we all need to return and connect with each other in order to meet the increased demand that is being experienced by the travel sector.”

“Reconnect with everyone we have not seen in the past 2 and a half years and see them, face-to-face, to discuss the trends in the sector but also to know how they have been doing”. This was the response of Marc Padrosa, Global Industry Director at Kantox, when asked about his participation in the Bavel Travel Summit.

The event included activities to encourage, even more, interactions as well as entertain the attendees. The Tapas Hunt (visiting a number of typical bars in the city for tapas), yoga and jogging activities, and the Haka show (a motivational Maori dance), are some of these events.

The age of automation and payment manager

Ana Arjones, Director – Market Development Travel, Enterprise Partnership at Mastercard, affirmed that “until now, payments have been managed manually, they required a lot of human intervention and automation is going to resolve this as well as free up a lot of time for companies to focus on their actual work”.

Xavier Ginesta, CEO of Voxel explained that the pandemic has forced the industry to digitize and affirmed that “in this new post-pandemic era, payments between companies in the tourism sector will be handled by ‘payment managers’“. He also explained that Voxel has spent these two years investing in innovation and developing Bavel Pay. This solution automates the entire payment process and provides greater agility, flexibility and meets all B2B payment requirements.

A good part of the sessions, like the one presented by Mike Carlo, Hedna Board Member and CEO of XanderPay, have agreed that “payment manager opens a door to innovation” and “the key is that with innovation and disruption there must be cooperation”.

Third edition of the Voxel Awards

The third edition of the Voxel Awards took place during the formal dinner that was organized by the Bavel Travel Summit. The awards, presented by members of Voxel and their clients, made a reference to the company’s four corporate values. The award-winning companies were: Anex Tour for “Challenge Maniacs”; DER Touristik for “FUNtastic Team Players”; TUI for “People Freaks”; and W2M Travel for “Change Lovers”.

This was the closing event of the Bavel Travel Summit 2022, of which Xavier Ginesta highlighted: “we have seen the power of collaboration in action” and “this has been the most inspiring event of all the events we have held”.

This is the highlights of what happened during this edition:

La entrada The Bavel Travel Summit, a tourism industry reunion se publicó primero en Voxel - Blog.

The solutions provided by Diners Club Spain have been especially designed for Business Travel and payment to suppliers in the travel industry.

Voxel partners with Diners Club Spain to continue promoting B2B payments in the travel industry. Thanks to this partnership, Diners Club Spain is now part of baVel Pay’s payment providers. From this point forward, all companies connected to baVel Pay’s Payment Manager can begin using the services provided by Diners Club Spain without needing to carry out a specific integration.

Diners Club Spain for the travel industry

Diners Club Spain has designed two products to meet the needs of companies in the travel industry and specifically, of travel agencies and intermediaries.

Through products such as Travel Account and Travel Services Account, Diners Club Spain offers a payment method that allows grouping all payments of a company that has been issued a card, providing an easy way of reconciling accounts, more detailed data and a safe payment via its VCN (Virtual Card Number) solution. In addition to offering greater liquidity and being limited to paying for travel services, these two Diners Club products have specific characteristics depending on their use.

The Travel Account can be issued in the name of a travel agency, as long as it is used to pay for travel expenses related with a specific client company. This way, the Travel Account offers a wide travel insurance coverage for all travelers from said company in cases where their travel or lodging has been purchased using this method of payment.

The Travel Services Account of Diners Club Spain is designed for players in the travel industry and is registered with IATA as an alternative transfer method. With permission from the airline company, the Travel Services Account can be used for purchasing IATA airline tickets. This way travel intermediaries can centralize all purchases related with the travel services they intend to sell to their clients using a single method of payment.

On the other hand, baVel Pay is a platform created by Voxel that creates a channel, other than the bookings channel, to transmit B2B payments in the industry. baVel Pay is capable of automatically articulating a sophisticated flow of B2B payments from start to finish, without errors or frictions and taking advantage of an ecosystem of payment providers such as Diners Club Spain. baVel Pay’s Payment Manager is the first payment manager on the market to implement the Open Payment Alliance standards defined by HEDNA and HTNG.

Benefits for companies in the travel industry

Nonetheless, companies in the travel industry that decide to use the solutions provided by Diners Club Spain through baVel Pay may benefit from:

• Longer payment deadlines and consequently, increased cash-flow.
• Cross-border payments that are cheaper and free of exchange rate commissions.
• Maximizing sales without the risk of IATA limiting your payments. Lower guarantee requirements by IATA.
• Automatic articulation of a sophisticated flow of B2B payments from start to finish without errors or frictions.
• Rules engine capable of choosing the best method of payment for each transaction.
• baVel Pay value added services: e-Billing and Bill-back, reconciliation, electronic settlement and full reporting.
• Omni-channel and automatic payment distribution.

If you wish to start using these services, please contact us at info@voxelgroup.net and our team will get back to you and explain how we can help.

La entrada Diners Club Spain is the new payment supplier added to baVel Pay se publicó primero en Voxel - Blog.

Voxel attends Fitur with the clear objective of encouraging innovation in the area of B2B payments in the travel sector using Payment Manager.

Voxel, the leading electronic payments and ebilling company in the travel sector, will present the latest news related with Payment Manager at Fitur. Payment Manager is the cornerstone of the Open Payment Alliance, which is the new B2B payments standard that has been specifically designed for the travel industry.

The introduction of Payment Manager in the sector and consequently, the adoption of the standards set by the Open Payment Alliance, will entail a paradigm shift in terms of innovation, digitization and automation of B2B payment processes in the industry. This is how it has been described by important associations in the sector such as HEDNA and HTNG, who have been the promoters of OPA.

Technology in the distribution channel and in the payments channel

Over the past decades, distribution in the travel sector has grown exponentially, which has resulted in the appearance of new actors and intermediaries. This growth has been possible thanks primarily to three key technologies: the Internet, VCCs and Channel Managers.

However, the managing and distribution of B2B payments has not evolved at the same pace and the process to manage these is currently highly manual, complex, inefficient and a source of errors and losses for companies in the sector. In fact, in the current scenario, payment processing costs can have an impact of up to 5% of a hotel’s revenue, according to data provided by Voxel.

Open Payment Alliance proposes a new channel that is different from the reservations channel and which allows channeling a flow of payments from start to finish in a manner that is optimized, without frictions and adapted to the specific needs of companies in the travel sector.

In this sense, Voxel has developed baVel Payment Manager, the first Payment Manager on the market, which, in addition to implementing the standards set by the Open Payment Alliance, adds new modules that can be used by travel companies to automatically process payments while also benefiting from other innovations. These modules are: omni-channel connectivity with GDSs, Channel Managers, etc.; a rules engine for automatically selecting the best payments supplier and automatically executing the payment process; a virtual payments hub with more than a dozen payment suppliers; the safe distribution of payments and value added services such as invoice recovery, FX, automatic reconciliation, etc. baVel’s Payment Manager has passed the first concept tests and is currently being used by a dozen companies such as Palladium, Hotusa, MTS Globe, TUI Iberia…

Voxel at Fitur

For the second year now, Voxel will participate in Fitur with a clear objective: promoting the adoption of Payment Manager by the travel sector. In addition to presenting the latest innovations in Payment Manager, the company will also showcase its solutions for digitizing all the back-office processes of hospitality and travel companies at stand 8A14.

La entrada Voxel presents the latest news related with Payment Manager at Fitur 2022 se publicó primero en Voxel - Blog.

La entrada Voxel and Pax2Pay partner to boost B2B payments in the travel industry se publicó primero en Voxel - Blog.

Xavier Ginesta, Chairman at Voxel, will present the most innovative modules of baVel Pay on the Travel Forward Stage.

Voxel, the leading e-invoicing and B2B payments company in the travel industry, will present the latest developments in B2B payments in the industry at the World Travel Market in London.

Xavier Ginesta, Chairman at Voxel, will present the paper “baVel Pay. The B2B payments revolution” on the Travel Forward Stage. This presentation will share Voxel’s vision of the radical evolutionary leap that B2B payments will undergo in the travel industry in the coming years and will present, for the first time after the recent acquisition of Troovo, the new functionalities and features of the baVel Pay platform.

In particular, the paradigm shift that the introduction of the Payment Manager and the adoption of the Open Payment Alliance standard will bring in terms of innovation, digitisation and automation of B2B payment processes in the sector will be analysed.

B2B payments in the international travel sector

Over the last decades, distribution in the travel sector has grown exponentially, giving rise to the emergence of new players and intermediaries. This growth has been made possible mainly thanks to three key technologies: the internet, VCCs and Channel Managers.

However, the management and distribution of B2B payments has not evolved at the same pace and the process for managing them has become increasingly complex, inefficient and a source of errors and losses for companies in the sector.

Following the recent acquisition of Troovo by Voxel, baVel Pay has added new and innovative functionalities and features. baVel Pay is now able to automatically orchestrate highly sophisticated end-to-end B2B payment flows, from retrieving the booking from a GDS or Channel Manager, choosing and generating the optimal payment method for that booking and taking out exchange rate insurance that mitigate exposure from exchange rate fluctuations; to distributing the payment directly to the hotel, obtaining and reconciling the electronic invoice, settling the payment and finally sending a reconciliation report to both the payer and the payee. Fully digital end-to-end business process execution without any manual intervention and therefore frictionless.

The baVel Pay service is articulated through the first Payment Manager in the market that implements the Open Payment Alliance standards defined by HEDNA and HTNG.

Commitment to innovation and digitalisation

For the first time, and coinciding with the first face-to-face edition of the WTM after the pandemic, Voxel will also participate in the event with a booth (TT738). Located in the Travel Forward, the event dedicated to technology and innovation within the World Travel Market, Voxel’s proposal will focus on boosting innovation in the field of B2B payments in the travel industry and contributing to the recovery of the travel sector through digitisation and automation of back-office processes.

La entrada Voxel presents the new baVel Pay platform at WTM se publicó primero en Voxel - Blog.

We are pleased to announce that XanderPay and Voxel have agreed to enhance our existing relationship to bring flexibility and efficiency to hotel B2B payments. With Voxel’s recent acquisition of Troovo, the opportunity to ‘right-size’ the global payment solutions for hotels has never been more possible.

Voxel, a leading e-invoicing and B2B payments specialist in the travel industry, offers a full, robust range of solutions, capable of automating the end-to-end eBilling and payment cycle and completely digitizing the processes of AP and AR teams. XanderPay started as an alternate form of payment for hotel industry B2B transactions in 2018.

The XanderPay Bank Transfer Guarantee (BTG) offers an alternative to virtual credit cards, providing hotels with the flexibility to choose the optimal method for receiving payments from their partners. “We’ve tried to create a solution which right-sizes the B2B payment to reflect the inherent risks,” according to Mike Carlo, CEO for XanderPay.

Voxel understands the importance of choice and flexibility, as well as automation and efficiency. “For hotel payments, each transaction brings different inherent risks. We advocate the right-sizing of B2B payments to incorporate the most appropriate payment option. Working with VCC issuers and, now, XanderPay, Voxel’s newly acquired Troovo Robotic Process Automation streamlines this process for our hotel partners,” said Xavi Ginesta, Chairman at Voxel.

Working together, XanderPay and Voxel will provide hotels a balanced portfolio of payment offerings.

La entrada Xanderpay and Voxel se publicó primero en Voxel - Blog.