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.

La entrada The impact of baVel Pay on the industry se publicó primero en Voxel - Blog.

Connectivity with GDSs and a powerful decision engine based on RPA (Robotic Process Automation) technology are the new functionalities that Voxel will incorporate into baVel Pay.

Voxel, a leading e-invoicing and B2B payments specialist in the travel industry, has acquired Australian startup Troovo in order to enrich and consolidate its B2B payment solutions. Voxel will integrate Troovo’s technology, winner of the 2018 Business Travel Innovator award, into baVel Pay’s payment platform.

With this acquisition, baVel Pay incorporates two new key functionalities: connectivity with GDSs and a powerful decision engine, developed and patented by Troovo, which aims to optimise the management of electronic means of payment and eliminate all sources of friction in B2B payments derived from the current cumbersome and error-prone manual procedures.

RPA for B2B payments

Companies that manage their B2B payments through baVelPay can now leverage an optimized, completely automated process via Robotic Process Automation (RPA). Thanks to the technology incorporated, a frictionless process is achievable enable better business outcomes.

baVel Pay will be able to orchestrate an end-to-end process: 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.

Voxel now offers a full, robust range of solutions through its baVel and baVel Pay platforms, capable of automating the end-to-end eBilling and payment cycle and completely digitising the processes of AP and AR teams.

The deal consolidates Voxel’s commitment to B2B payments and extends the capabilities of baVel Pay’s Payment Manager, the first and only Payment Manager on the market to implement the technical specifications and standards of the Open Payment Alliance established by HEDNA and HTNG.

Future prospects

Voxel will maintain Troovo’s offices and team in Australia (Sydney and Melbourne) with the aim of expanding its business in the Asia Pacific region. It will also continue to serve the Australian startup’s entire client portfolio, which includes leading companies such as Webbeds, FlightCenter and QBT, via integration into the baVel network.

Following this acquisition, baVel Pay expects to process around 6 million transactions, worth 2.4 billion euros, by 2022 and to increase this figure tenfold over the next five years.

In the words of Xavier Ginesta, Chairman at Voxel, “we have taken advantage of the pandemic to spend quality time thinking strategically and investing in technological innovation in order to emerge stronger from the crisis. The acquisition of Troovo, its technology and its patent are the spearhead of a strategic plan that not only makes baVel Pay’s Payment Manager the most powerful B2B payment platform in the travel industry, but also one of the most complete in the market in general”.

DWF-RCD, the leading law firm in comprehensive legal advice and in innovation and entrepreneurship, has accompanied Voxel in this international operation.

La entrada Voxel acquires Troovo to power its B2B payments business se publicó primero en Voxel - Blog.