Technology stands as a primary driver behind the travel industry’s current essential change which focuses on operational improvement for customers alongside experience enhancement. The sector is undergoing revolutionary changes through the joint collaboration between Modulr and Juniper which aims to transform embedded payments in this market. Through their collaboration the companies provide travel businesses access to effortless real-time and secure payment solutions which specifically address the particular industry needs.
Modulr: Embedded Payment Solutions for the Travel Industry
Modulr seeks to create a future in which every organization harnesses embedded payment functionality. Modulr’s payments platform supports fund collection and disbursement services to meet the needs of thousands of businesses ranging from small enterprises to enterprises with various payment methods and accounts and card products. Modulr offers a tailored solution to the complex needs of the travel market. Their portal, direct API integrations and integrations with channel managers, offer travel businesses access to unlimited virtual cards and account-to-account payments through Faster Payments, Bacs, CHAPS, Open Banking, SEPA and SWIFT.
Benefits of the Integration for Juniper Clients
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Access to Real-Time Payments
Client funds become instantly available using Faster Payments and SEPA Instant through the Modulr-Juniper platform operation system. Real-time payment systems enable travel businesses to achieve better financial management which results in quicker financial processing for enhanced customer satisfaction.
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Enhanced Cash Flow Efficiency
Modulr operates Electronic Money Institution (EMI) accounts under client names for balance sheet reportability of funds. Businesses can allocate their resources better after implementing this structure because it enhances cash flow efficiency and treasury operations.
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Secure and Fraud-Protected Transactions
One-time payment options through this integration have been implemented to stop payment fraud through controlling payments to selected suppliers. The established control system creates enhanced payment monitoring capabilities together with financial recovery possibilities in case of payment-related fraud or supplier failure to protect transaction integrity.
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Maximise earning potential
Avoid losing sales and optimise supplier payments by choosing between Visa or Mastercard, with six interchange levels available to increase acceptance.
Impact on the Travel Industry
The Modulr-Juniper connection brings together instant-issue accounts with various payment options to produce a single platform that optimizes operations for travel companies. The integrated solution enables UK domestic clearing via Faster Payments as well as CHAPS and inbound Bacs payments for GBP accounts together with SEPA Credit and SEPA Instant Credit for EUR accounts. Several currencies including USD, CZK, DKK, NOK, PLN, SEK and CHF, HKD, and JPY are accessible through international clearing that utilizes SWIFT technology.
Business travel operations find in the Modulr-Juniper connection a groundbreaking solution to boost payment operations landscape. Companies that utilize this partnership secure their position in the modern travel market by executing instant secure payments that boost their competitive advantage.
