Visa has partnered with UAE-based spend management specialist Qashio to launch a business-to-business travel payments solution.
The Visa Commercial Choice Travel programme aims to provide global issuance capabilities to the travel industry across the UAE, MENA, Europe, and the UK, with an investment of over AED 100 million ($27 million) planned for the coming years.
Travel companies will be able to access Qashio cards and conduct transactions in various currencies, including AED, SAR, USD, EUR, and GBP, all issued from the UAE. This will facilitate payments and settlements in multiple currencies.
Clients can also digitize and automate their payment processes, enhancing reconciliation and improving liquidity. The system is designed to integrate seamlessly with global travel management companies and their booking tools.
Additionally, Visa Commercial Choice Travel will offer real-time data insights and analytics, providing greater precision in cash flow tracking and budgeting.
Armin Moradi, CEO of Qashio, stated: “We recognize that the Travel & Tourism industry is crucial in the region, yet travel companies often lack strong technical payment solutions. We are developing a one-stop platform that simplifies the corporate travel experience for our clients, allowing them to focus on what truly matters – growing their businesses.”