Banks Fintech India Latest News

B2B Pay for Indian travel agencies

“When we started, we didn’t know that Travel agencies would be our number one customer segment” say B2B Pay CEO Neil Ambikar.

B2B Pay offers virtual bank accounts in Europe for Indian companies with European customers. Our customers are able to collect bank transfers directly in Europe, this saves time and cuts costs by 80%. Europeans also prefer domestic payments and feel a bit scared of sending money overseas.

 

Problem faced by Travel Agencies

Package tours at the high end can cost between €5,000 to €50,000.

The problem in the industry is about trust. Travelers are vary about the thousands of travel agencies which can be found online. When they finally see a deal they like, sending large amount via a bank transfer to an overseas cheap brand levitra country like India raises fears and adds complexity and costs.

“We haven’t received your payment” is the biggest fear they have.

 

How using B2B Pay builds Trust between Travellers and Tour Operators.

B2B Pay offers a very simple product: a bank account number in Europe for Indian travel agencies.

“When you tell a customer that you have an account in Europe to receive payments in Euros it immediately adds to the trust and gives them comfort that you are professionals and not going to run away with their money.“ says Gurpreet, a travel agent from Delhi. “They now immediately agree to make the payment, while previously they would hesitate and make excuses that they needed to check with their bank.”

 

Kasper Souren

B2B Pay

Related posts

Open Banking: the landscape by 2025

thefintechtimes

VTFinTech Partners with Alphametry to Roll Out MiFID Services

thefintechtimes

How UK Employers can “Kill” the Payday Loan Industry

thefintechtimes