{"id":12707,"date":"2024-09-16T08:18:45","date_gmt":"2024-09-16T07:18:45","guid":{"rendered":"https:\/\/www.voxelgroup.net\/blog\/?p=12707"},"modified":"2024-12-12T08:49:57","modified_gmt":"2024-12-12T07:49:57","slug":"instant-payments-transforming-b2b-transactions-in-the-travel-sector","status":"publish","type":"post","link":"https:\/\/www.voxelgroup.net\/blog\/en\/instant-payments-transforming-b2b-transactions-in-the-travel-sector\/","title":{"rendered":"Instant payments: transforming B2B transactions in the travel sector"},"content":{"rendered":"Tiempo de lectura:<\/span> 2<\/span> minutos<\/span><\/span>

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.<\/p>\n

Instant payments in the B2B travel space <\/strong><\/h2>\n

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<\/strong> for business-to-business transactions.<\/p>\n

An instant payment is a payment method that enables transactions to be settled within seconds<\/strong>. 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.<\/p>\n

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<\/strong> of traditional banking methods.<\/p>\n

The growing importance of instant payments <\/strong><\/h2>\n

In the context of the Bavel Travel Summit<\/a>, an event specializing in B2B payments organized by Voxel, we discussed this topic. The conversation included the participation of Vivian Dixon<\/strong> (Global Director Cross-Border Solutions at Visa), Yago\u00a0Casasnovas<\/strong> (Head of Payments, Fraud Prevention and Distribution at Air Europa), Carlos Fern\u00e1ndez<\/strong> (CEO of Quadrant TravelTech) and Borja Risue\u00f1o<\/strong> (Sales Director at Voxel).<\/p>\n

Vivian Dixon shared VISA’s vision on instant payments: “We want to be the network of networks. We\u2019ve 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.\u201d<\/p>\n

In this excerpt from the talk, Vivian identifies what she believes is the biggest trend in B2B payments<\/strong>, which has to do with the consumerization of B2B payments:
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