France-based Travelsoft Pay, part of the Travelsoft Group, has entered into a strategic collaboration with Mastercard to provide B2B payment infrastructure for the global travel industry.
Under this partnership, Travelsoft Pay will utilize Mastercard’s Wholesale Program (MWP), a VCN-based system that has been operational in the travel sector since over ten years.
Travelsoft Group reports that its platforms handle transactions for numerous customers globally, processing EUR 50 billion annually in travel gross merchandise value and supporting various booking and operational workflows within the industry.
Capabilities of Travelsoft Pay and Scope of Partnership
Travelsoft Pay is a cloud-based, modular platform that integrates with Travelsoft’s existing travel systems. It aims to automate both inbound and outbound payments, enhance reconciliation processes, and offer travel companies visibility into and control over payment flows in multiple countries and currencies. By leveraging the Mastercard Wholesale Program, Travelsoft Pay will empower travel intermediaries to generate VCN-based transactions swiftly and flexibly.
The collaboration targets the entire B2B payment process within the travel commerce landscape, from booking to final settlement. A primary goal of this partnership is to simplify operations for travel intermediaries and suppliers while enhancing liquidity management.
Christian Sabbagh, CEO of Travelsoft Group, emphasized that combining Mastercard’s technology with Travelsoft Pay’s API-first approach ensures reliable and transparent transactions for both buyers, suppliers, and travelers, ensuring funds are safeguarded, reconciled, and delivered across different markets.
Mary Cotugno, Managing Director at Travelsoft Pay, highlighted that the platform was designed to address the operational challenges faced by travel intermediaries and suppliers, aiming to automate and scale payment movements across borders within a flexible, industry-specific architecture.
Chiara Quaia, Senior Vice President for B2B Travel at Mastercard, stated that their partnership is focused on creating secure and scalable B2B payment infrastructure throughout the travel value chain.
Industry Context
In the travel sector, B2B payments are characterized by intricate flows through numerous intermediaries, currencies, and extended settlement periods. VCN-based solutions have become a prevalent way to manage supplier payments due to their traceability and control compared to conventional payment methods. The collaboration between Travelsoft Pay and Mastercard underscores ongoing efforts to modernize this layer of travel commerce infrastructure.
