Visa has partnered with Qashio, a UAE-based spend management firm, to introduce a new business-to-business (B2B) travel payments program aimed at the travel and tourism sector. The Visa Commercial Choice Travel program will simplify corporate travel payments, expanding its reach across the UAE, Mena, Europe, and the UK.
The initiative involves an investment of over AED 100 million ($27 million) from both companies over the coming years. Qashio will issue cards that facilitate transactions in multiple currencies, including AED, SAR, USD, EUR, and GBP, enhancing payment efficiency for travel companies.
These cards will be issued in the UAE, allowing for seamless payments and settlements across various regions. The program also features integrated tools for automating reconciliation and improving liquidity management.
Additionally, the Visa Commercial Choice Travel program provides real-time data insights and analytics for better cashflow tracking and budgeting, and it is integrated with global travel management companies, enhancing the overall corporate travel experience.
Qashio CEO Armin Moradi emphasized the need for robust payment solutions in the travel sector, stating that the partnership aims to create a streamlined platform that allows travel companies to focus on business growth.