Nium, a leading provider of real-time international payment solutions worldwide, has forged a partnership with HappyEasyGo, a prominent online travel agency. Established in 2017, HappyEasyGo has swiftly emerged as one of Asia’s premier platforms for booking flights and accommodations, catering to numerous business and leisure travelers on a daily basis. Nium will offer virtual cards as the main digital payment option for transactions involving HappyEasyGo's travel partners.
Boris Zha, CEO of HappyEasyGo, said, “Nium’s payment solutions have been transformative for our operations. Their ability to issue virtual cards quickly and in multiple currencies has streamlined our payment processes, reduced costs, and enabled us to offer better service to our customers. We look forward to continuing our work with Nium as we expand our business to more parts of the globe”.
Nium offers a specialized array of payment solutions designed specifically for online travel agencies (OTAs) and travel intermediaries, promoting quicker and more secure transactions that boost profitability and optimize operations. This year, Nium achieved a 110% revenue increase from its travel sector in the APAC region, underscoring the escalating need for dependable and effective payment systems in the ever-evolving travel industry. In 2023, travel in the APAC region rebounded to 65% of its pre-pandemic levels, positioning it as one of the fastest-growing travel markets globally.
“Our growth in the APAC region is a testament to our commitment to providing innovative payment solutions that address the specific needs of the travel sector”, said Spencer Hanlon, Global Head of Travel Payments at Nium. “Our partnership with HappyEasyGo shows how our advanced payment solutions can drive success for online travel agencies by improving operational efficiency and profitability”.
Nium provides a notable advantage by facilitating the funding and issuance of virtual cards in more than 20 local currencies. This helps lower foreign exchange expenses and improves global acceptance, which is especially beneficial for travel enterprises like HappyEasyGo, which operates across diverse markets. Furthermore, Nium’s travel payment solutions enable invoice settlement within just two days, a significant enhancement compared to the industry's usual 30-day standard. Moreover, businesses can personalize payment account settings, giving them full control over cash flows. This feature enhances revenue streams and reduces potential margin loss.
With an extensive range of Mastercard and Visa-certified virtual cards, Nium enables its OTA and travel intermediary partners to provide increased flexibility and choices to their hotel and airline collaborators. This fortifies supplier connections and, in turn, enriches travel experiences for customers globally.