ConnexPay and MIDOCO are expanding their technology partnership to deliver integrated payments for travel companies. The expanded partnership connects ConnexPay’s payment capabilities with MIDOCO’s travel technology platform.
ConnexPay and MIDOCO announce enhanced technology partnership. The collaboration will combine MIDOCO’s platform with ConnexPay’s payment capabilities. ConnexPay is a single payments platform that connects customer PayIns to supplier PayOuts. MIDOCO offers Mid- and Backoffice software for the travel industry.
APIs can be incorporated into existing workflows for travel companies to provide payment functionality. These companies include travel agencies, travel management companies, tour operators and online travel agencies. ConnexPay’s PayIn and PayOut functionality is now embedded into MIDOCO’s workflow. This enables customers to conduct payment activities alongside their existing travel processes.
Travel companies can receive payments from customers through the integrated platform. They can also create virtual cards to pay suppliers. Teams can also manage booking, reconciliation and accounting processes in their existing environment. Booking, payment and reconciliation now operate in one connected workflow. ConnexPay and MIDOCO expand their partnership, offering travel companies the ability to PayIn and PayOut within MIDOCO’s existing tools.
“We’re excited to expand our partnership with MIDOCO and combine our payments expertise with their deep integration into travel operations,” said Ben Peters, CEO of ConnexPay. “Together, we’re helping travel companies simplify complex payment flows, reduce operational friction and manage customer and supplier payments more efficiently.”
Streamlining Travel Payment Operations
Post every booking, payments are a key part of travel operations. Companies need to capture customer payments and reconcile those transactions correctly. Timely payments to suppliers are also required. It also requires accurate movement of transaction data through financial and accounting systems. However, separate payment and back office environments can increase the operational work.
So the integration of ConnexPay and MIDOCO brings these processes together in one workflow. This approach may relieve the burden of managing payment activities in disparate systems. The expanded integrated payments capabilities can help travel businesses get better visibility into their operations. Teams can also speed up customer and supplier payment processes.
MIDOCO’s Mid- and Backoffice platform supports several post-booking processes for travel companies. These processes include order management, invoicing, payment reconciliation, supplier settlements, and accounting. The platform also integrates travel and financial data across systems. Therefore, travel companies can cut down on manual labor and boost operational efficiency.
Expanding Payment Capabilities for Travel Businesses
“Our goal is to give travel companies the technology and flexibility they need to operate more efficiently as their businesses become increasingly complex,” said Steffen Faradi, CEO Midoco Group. “ConnexPay brings deep payments expertise and the ability to support both customer payment acceptance and supplier payments, making this expanded partnership a natural fit for our customers.”
The expanded partnership is already helping shared customers. Companies that use both platforms include Globespan Travel Management. The Globespan travel technology and payments environment is powered by ConnexPay and Midoco Group. It connects payment activity more closely with existing travel workflows. So payment information stays attached to the relevant booking. This link gives you more visibility through the transaction process.
“Integrating ConnexPay directly into Midoco Group gives us a more connected and efficient payment workflow. Each card payment remains tied to its corresponding booking from the moment the transaction occurs, giving our team greater visibility while reducing manual work and reconciliation complexity.” — Daniel Moretta, President Globespan Travel Management
The partnership also expands the role of integrated payments within travel tech environments. Travel companies can handle customer payments and supplier payments through connected workflows. Also, the API integration allows for better alignment of payments and back-office operations. The integration can help businesses reduce manual processes in financial workflows.
The collaboration is a response to the growing demand for connected payment technology in the travel sector. Travel companies are demanding systems that link booking, payments, reconciliation and accounting. The companies are enhancing those capabilities by combining ConnexPay’s payments know-how and MIDOCO’s travel technology. The partnership provides travel businesses with a connected approach to payment operations management.
The expanded technology partnership delivers integrated payments within established travel workflows for joint customers. It also enables more integrated processes for customer payment acceptance, supplier payments, reconciliation and accounting.
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News Source: Businesswire.com
