{"id":558918,"date":"2024-06-03T08:03:19","date_gmt":"2024-06-03T07:03:19","guid":{"rendered":"https:\/\/ibsintelligence.com\/?post_type=ibsi_news&#038;p=558918"},"modified":"2024-06-03T08:03:19","modified_gmt":"2024-06-03T07:03:19","slug":"mastercard-and-hsbc-middle-east-team-to-boost-travel-payments","status":"publish","type":"ibsi_news","link":"https:\/\/ibsintelligence.com\/ibsi-news\/mastercard-and-hsbc-middle-east-team-to-boost-travel-payments\/","title":{"rendered":"Mastercard and HSBC Middle East team to boost travel payments"},"content":{"rendered":"<p><span class=\"typography__paragraph--large\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-536502 alignright\" src=\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2022\/06\/ibs_Mastercard-UK-1-300x300.jpg\" alt=\"Mastercard, One Global\" width=\"202\" height=\"202\" srcset=\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2022\/06\/ibs_Mastercard-UK-1-300x300.jpg 300w, https:\/\/ibsintelligence.com\/wp-content\/uploads\/2022\/06\/ibs_Mastercard-UK-1-150x150.jpg 150w, https:\/\/ibsintelligence.com\/wp-content\/uploads\/2022\/06\/ibs_Mastercard-UK-1-100x100.jpg 100w, https:\/\/ibsintelligence.com\/wp-content\/uploads\/2022\/06\/ibs_Mastercard-UK-1.jpg 399w\" sizes=\"auto, (max-width: 202px) 100vw, 202px\" \/>Mastercard has joined forces with HSBC Middle East to launch Mastercard <a href=\"http:\/\/www.mastercard.com\">Wholesale Program<\/a> in the region. <\/span><\/p>\n<p><span class=\"typography__paragraph--large\">The partnership aims to advance automation of buyer and supplier payments for HSBC\u2019s travel merchant customers. <\/span><span class=\"typography__paragraph--large\">By leveraging virtual cards to digitize the way travel organizations pay each other for the various elements that make up a consumer\u2019s trip, the collaboration will boost liquidity and enhance security across the travel value chain.<\/span><\/p>\n<p><span class=\"typography__paragraph--large\">\u201cCard payments continue to power the travel economy, providing essential cash flow and payment security. Our expanded partnership with HSBC in the Middle East is focused on meeting the specific needs the travel sector has today, as it captures all potential growth. By leveraging Mastercard\u2019s virtual card innovation, this initiative provides HSBC\u2019s travel customers with a dynamic commercial payment solution to boost operations and support the sector\u2019s overall recovery,\u201d said\u00a0<strong>Khalid Elgibali, Chief Operating Officer, Eastern Europe, Middle East and Africa, Mastercard<\/strong>.<\/span><\/p>\n<p><span class=\"typography__paragraph--large\">HSBC will deploy the Mastercard Wholesale Program (MWP), a virtual card-based B2B payment product, for the first time in the Middle East to its travel industry customers to advance secure, streamline and automated B2B travel transactions. <\/span><\/p>\n<p><span class=\"typography__paragraph--large\">The solution has been specifically designed for and with the travel industry, addressing the lack of visibility, control and protection associated with manual payment methods that are still rife across the sector. The innovative proposition is part of Mastercard\u2019s multi-rail strategy that is already being used by over 400,000 travel merchants globally.<\/span><\/p>\n<p><span class=\"typography__paragraph--large\">\u201cWe are dedicated to improving our specialist products to match the changing demands of our customers. It&#8217;s essential we give them the digital tools necessary to make the most of their sales opportunities. By using the Mastercard Wholesale Program, traditional and online travel agencies, bedbanks, tour operators and travel management companies will enjoy more control over payment options, while improving cash flow through a secure and efficient platform,\u201d said<strong>\u00a0Kyle Boag, Head of Global Payments Solutions for HSBC in the Middle East, North Africa and T\u00fcrkiye region<\/strong>.<\/span><\/p>\n","protected":false},"author":35778,"featured_media":536502,"parent":0,"template":"","categories":[11384],"tags":[32666,11602,36186,21391,11573,11727,45315],"class_list":["post-558918","ibsi_news","type-ibsi_news","status-publish","has-post-thumbnail","hentry","category-payments","tag-b2b-payment","tag-cash-flow","tag-fintech-mena","tag-fintech-news","tag-hsbc","tag-mastercard","tag-travel-merchants"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.9 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mastercard and HSBC Middle East team to boost travel payments<\/title>\n<meta name=\"description\" content=\"Mastercard has announced a partnership with HSBC Middle East to launch Mastercard Wholesale Program in the region.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ibsintelligence.com\/ibsi-news\/mastercard-and-hsbc-middle-east-team-to-boost-travel-payments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mastercard and HSBC Middle East team to boost travel payments\" \/>\n<meta property=\"og:description\" content=\"IBS Intelligence (IBSi) is the world\u2019s only pure-play Financial Technology focused research, advisory, and fintech news analysis firm, with a 30-year track record and clients globally. 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