Wise Platform, which is Wise’s infrastructure solution for banks and major enterprises, will integrate its global payments network into Agoda’s platform, providing faster, lower-cost and more transparent international payments for Agoda’s customers, the companies said in a Friday (Nov. 10) press release emailed to PYMNTS.
Steve Naudé, managing director at Wise Platform, said in the release that this partnership showcases Wise Platform’s continued momentum in the Asia-Pacific region, as it expands its partnerships to power cross-border payment solutions for businesses and consumers in the travel sector.
Through the integration of Wise’s application programming interfaces (APIs), Agoda customers have access to a range of benefits within the Agoda app, according to the release. They can leverage faster and more convenient payment options and receive cash back directly into their local bank accounts.
Agoda Chief Financial Officer Mai-Linh Bui highlighted the importance of speed and convenience for today’s travelers. She said in the release that with Wise Platform’s expertise in cross-border payments, Agoda can offer travelers more flexibility and choice in their payment experience.
PYMNTS Intelligence found that digital tools such as all-in-one digital travel management and payment apps have proven invaluable to budget-conscious consumers. These solutions streamline the process of travel planning and payment, according to “Tap and Tip: Travel and Hospitality Embrace Digital and Instant Payments,” a PYMNTS and Ingo Money collaboration.
In another partnership, Wise Platform teamed up with global spend management solution Payhawk in October. The collaboration solidifies Payhawk’s position as a one-stop shop for spend management and incorporates a new International Payments feature that allows Payhawk customers to make transfers in over 50 currencies across more than 160 countries directly from the platform.
During the same month, Agoda expanded its partnership with Mastercard to enhance B2B payments within the travel and tourism industry. The tie-up aims to address the increasing digitization of the sector and streamline transactions between digital travel platforms, hotels, airlines, suppliers and vendors globally.