As our industry continues to respond to the impact of the pandemic, a vital concern for all has been, and continues to be, the safety of travellers and employees.
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However, the financial situation of many travel players has also come into closer focus, and in this blog, I wanted to share how our Payments team has been supporting our customers during this uncertain time.
Supporting our travel agency customers to maximise free cashflow
Cashflow is of paramount importance for all players in our industry, perhaps now more than ever before. At Amadeus, we support more than 1,000 travel agencies to make payments to suppliers, like airlines, using virtual cards from our B2B Wallet solution. Some of these virtual cards are designed to be used multiple times and are assigned a specific financial value to cover multiple air or hotel purchases made against a single booking. When those payments have been made, a modest balance may remain on the card, often due to fluctuating FX rates.