Worldline partners with Visa to launch virtual card issuing solution for OTAs

Worldline partners with Visa to launch virtual card issuing solution for OTAs

Both parties are investing in the partnership, with joint acceptance and issuing

Payment services provider Worldline has announced a strategic partnership with Visa, to launch a new virtual card issuing solution. 

This strategic collaboration marks a pivotal moment, propelling Worldline beyond payment processing and into direct card issuance. 

The project will focus on the OTA market due to a high demand for this solution as well as Worldline's experience in the travel sector. 

By combining the parties’ acceptance networks and seamless payouts, the virtual card issuing solution will streamline cash flow for OTAs. 

The OTA market is rapidly growing and demand for innovative payment solutions is surging. Industry analysts expect Travel and Tourism will generate 76% of all revenues from online sales by 2028, as reported by Statista, while the entire travel industry is expected to reach USD 1.74 trillion in volume by 2026, according to data released by PhocusWright. 

For OTAs, virtual cards can play an "integral" part in streamlining operational procedures and this new partnership enables the OTAs to further optimise their business. 

By choosing Visa as its international scheme partner, Worldline will provide OTAs with access to a dedicated B2B virtual card programme and enable them to pay their suppliers "more quickly and securely".

Both parties are making a significant investment into this partnership, which connects Worldline’s Merchant Services Acceptance capabilities with its Financial Services Card issuing platform. 

The offering, with joint acceptance and issuing, further supports OTAs in the management and optimisation of cash flows while reducing operational frictions. 

Guillaume Tournand, VP of growth of Worldline Merchant Services, said: “We are delighted to announce this significant partnership with Visa, a global influential and respected brand. 

"It will transform the way online travel agencies handle payments by offering a unified solution that combines payment performance and cost effectiveness.

"By leveraging our strong travel footprint, this initiative unlocks significant market expansion for Worldline, propelling us as the leading payment solution for travel agencies and driving sustainable revenue growth.”

Ed Chandler, senior vice president of Visa Commercial and Money Movement Solutions, said: “At Visa, we obsess about working with partners to deliver innovative, secure and reliable payment solutions."

He added: "We are excited to partner with Worldline, to streamline, unify and enhance how online travel agencies are paid and pay their suppliers seamlessly.”