SINGAPORE, May 26, 2024
/PRNewswire/ -- Nium, the global leader in real-time cross-border
payments, announced today that HappyEasyGo, a leading online travel
agency, has selected it for virtual card payments. Launched in
2017, HappyEasyGo has emerged as one of the fastest-growing flight
and hotel booking platforms in Asia, with thousands of leisure and business
travellers planning journeys on the platform each day. Virtual
cards, issued by Nium, will be the digital standard for payments to
HappyEasyGo's travel suppliers.
Boris Zha, CEO of HappyEasyGo,
said, "Nium's payment solutions have been transformative for our
operations. Their ability to issue virtual cards quickly and in
multiple currencies has streamlined our payment processes, reduced
costs, and enabled us to offer better service to our customers. We
look forward to continuing our work with Nium as we expand our
business to more parts of the globe."
Nium's comprehensive suite of payment solutions is tailored to
address the unique challenges faced by online travel agencies
(OTAs) and travel intermediaries, ensuring faster, more secure
transactions that enhance profitability and streamline operations.
This year, Nium reported a 110% increase in revenue from its travel
business in the APAC region, highlighting the growing demand for
reliable and efficient payment solutions in the dynamic travel
industry. In 2023, APAC had reached 65% of pre-pandemic travel
levels, making it one of the world's fastest-growing travel
markets.
"Our growth in the APAC region is a testament to our commitment
to providing innovative payment solutions that address the specific
needs of the travel sector," said Spencer
Hanlon, Global Head of Travel Payments at Nium. "Our
partnership with HappyEasyGo shows how our advanced payment
solutions can drive success for online travel agencies by improving
operational efficiency and profitability."
One of Nium's key offerings is the ability to fund and issue
virtual cards in over 20 local currencies, significantly lowering
foreign exchange conversion costs and improving acceptance
worldwide. This capability provides a critical advantage for travel
businesses operating in multiple markets, including
HappyEasyGo.
Nium's travel payment solutions also include the ability to
settle invoices within two days instead of the industry standard 30
days, and customize payment account parameters, giving businesses
end-to-end control over cash flow and enhancing revenue generation
while reducing margin erosion.
With a robust portfolio of Mastercard and Visa certified virtual
cards, Nium's OTA and travel intermediary customers can provide
more flexibility and choice for their hotel and airline partners,
strengthening supplier relationships and in turn driving better
experiences for travellers around the world.
About HappyEasyGo
HappyEasyGo embarked on its journey
in the Indian travel industry in 2017, bringing affordable flight
booking solutions for Indian business and leisure travellers. After
witnessing rapid growth in the flight booking space, the company
forayed into the hotel booking genre to add to the convenience of
its customers and help them save more while travelling. HappyEasyGo
has become India's leading online
travel aggregator in an extremely short span. Through its various
platforms, HappyEasyGo offers domestic and international flight
tickets along with thousands of hotels across India. The strength of HappyEasyGo lies in
providing the best flight and hotel booking deals along with a
hassle-free experience to its customers. Surpassing all
expectations, the company has built a vast customer base of
business and leisure travellers who frequently avail its services.
HEG's seamless platforms help customers search, compare, choose and
book from a wide range of flight ticket and accommodation
solutions. The HappyEasyGo mobile applications for Android and iOS
devices have been downloaded more than a million times and are
highly rated on both Google Play and AppStore.
About Nium
Nium, the global leader in real-time,
cross-border payments, was founded on the mission to deliver the
global payments infrastructure of tomorrow, today. With the onset
of the global on-demand economy, its payments infrastructure is
shaping how banks, fintechs, and businesses everywhere collect,
convert, and disburse funds instantly across borders. Its payout
network supports 100 currencies and spans 220+ markets, 100 of
which in real-time. Funds can be disbursed to accounts, wallets,
and cards and collected locally in 35 markets. Nium's growing card
issuance business is already available in 34 countries. Nium holds
regulatory licences and authorizations in more than 40 countries,
enabling seamless onboarding, rapid integration, and compliance –
independent of geography. The company is co-headquartered in
San Francisco and
Singapore.
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SOURCE Nium