05 November 2024

Nium and HyperGuest Join Forces to Streamline Payments for the Travel and Hospitality Industry

Written By FinTech Alliance in FinTech

Nium and HyperGuest Join Forces to Streamline Payments for the Travel and Hospitality Industry

Nium, the leading global infrastructure for real-time cross-border payments, today announced a strategic partnership with HyperGuest, a premier B2B marketplace for the travel and hospitality industry. This collaboration brings together Nium’s advanced virtual card payment solution with HyperGuest’s innovative travel distribution platform to deliver greater efficiency, speed, and security in payments for HyperGuest’s network of travel partners, hotels, and other accommodation providers around the world. 

Payment failures, fraud, and inefficiencies are especially prevalent in B2B hotel transactions due to factors like high transaction volumes and tech incompatibility between payment systems. Many aggregators and online travel agencies are making payments to hotels through legacy banking systems and card networks, where transactions can stall for days or weeks with no visibility into status. 

The integration of Nium’s virtual card solution into HyperGuest’s platform will facilitate faster, more secure, and transparent payments for travel businesses globally. Nium virtual cards, known for real-time local issuance in over 20 local currencies worldwide, will enhance HyperGuest’s ability to connect and transact with its expansive network of global partners, streamlining complex payment workflows and eliminating traditional bottlenecks. 

Independent hotels and chains on the HyperGuest platform will benefit from automated reconciliaiton and faster settlement, reducing fraud and improving cash flow to unlock working capital. For travel distributors and merchants, improved acceptance and reduced payment costs enable increased collaboration with hotel and accommodation partners.  

“In a short period of time, Nium’s innovative virtual card solution has enabled us to increase payment volumes and offer more choice, flexibility, and control for travel partners and hotels in our network,” said Amit Rahav, Chief Product & Strategy Officer and Co-founder at HyperGuest. “By removing the middleman from the payment journey, Nium is helping us to create a fairer travel payments landscape, streamlining the process to ensure secure, cost-effective, and timely payments for participants across the entire value chain.” 

The partnership arrives at a pivotal time as the global travel industry adapts to new operational challenges and the growing demand for digital-first financial solutions. Together, Nium and HyperGuest are set to redefine payment processes in the B2B travel ecosystem, helping businesses remain competitive and resilient in an evolving marketplace. 

“Our partnership with HyperGuest underscores Nium’s commitment to meeting the evolving needs of the travel industry with simpler, faster, and more efficient payments on a global scale,” said Max Lehmann, Senior Vice President of Travel Payments at Nium. “We are excited to grow our partnership with HyperGuest, delivering the benefits of our cutting-edge virtual card solution to more hotels and accommodation providers around the world. At the heart of it, it's about unlocking new opportunities for travelers by enabling hotels to focus on what they do best; delivering exceptional guest experiences.” 

To find out more about how modern payment methods like virtual cards control and shape the booking experience, the specific advantages for hotels and intermediaries, and the wide horizon of new products that these capabilities create, click here

Up Next ...
05 November 2024

MeaWallet Introduces New Features to Support Click to Pay, Enabling Safer, Faster Online Shopping

MeaWallet product updates support businesses facing mandatory regulatory requirements that state they must support Click to Pay

05 November 2024

Nium and HyperGuest Join Forces to Streamline Payments for the Travel and Hospitality Industry

This partnership will enhance payment efficiency and security for HyperGuest’s global network of travel and accommodation partners with Nium’s virtual card solution...

05 November 2024

Mastercard's 'Pay Local' Brings Global Payment Access to Digital Wallets

This initiative particularly benefits travelers, as it eliminates the need to preload prepaid accounts, making global payments more seamless

04 November 2024

Finance apps are in ‘need of improvement’, says a quarter of Brits

A recent survey by UK mobile specialists Apadmi reveals that ...

More in FinTech

MeaWallet Introduces New Features to Support Click to Pay, Enabling Safer, Faster Online Shopping

05 November 2024

MeaWallet product updates support businesses facing mandatory regulatory requirements that state they must support Click to Pay

Mastercard's 'Pay Local' Brings Global Payment Access to Digital Wallets

05 November 2024

This initiative particularly benefits travelers, as it eliminates the need to preload prepaid accounts, making global payments more seamless

Finance apps are in ‘need of improvement’, says a quarter of Brits

04 November 2024

A recent survey by UK mobile specialists Apadmi reveals that ...

Barclays acquires Tesco Bank

04 November 2024

Barclays Bank UK PLC has completed the acquisition of Tesco ...

White Papers FinTech

Open Finance in Review: Looking back at 2023

28 November 2023

In this insightful report, OzoneAPI delve into the pivotal developments that have shaped the landsca...

White Papers FinTech

Fintech 2030: The Industry View

02 October 2023

Key findings from the report:Embedded finance is expected to dominate the industry in 10 yearsThere...

White Papers FinTech

Pulse of Fintech H2 2022 report

27 July 2023

UK FinTech investment falls 56% to £14.42bn in 2022After an incredibly strong 2021, with total FinTe...

White Papers FinTech

The Rise and Impact of Fintech in Latin America

29 June 2023

Fintech also provides tools to help manage these risks. Financial authorities and their supervisees...

FinTech Connect 2024 - The Global FinTech Ecosystem . Connected.

FinTech Connect 2024 - The Global FinTech Ecosystem . Connected.

04 December 2024 - 05 December 2024

12:00 AM - 12:00 AM

ExCel London, Western Gateway, Royal Victoria Dock, London, London, E16 1XL

Free
Finnovate Europe

Finnovate Europe

25 February 2025

12:00 AM - 12:00 AM

InterContinental London - The O2, 1 Waterview Drive, London, Greenwich, SE10 0TW

£1,699.00