TripActions has signed a new strategic partnership with Visa, which the travel and expense management specialist has called the “natural next step” in its alliance with the payment giant, whose network already supports transactions via TripActions’ liquid card.
TripActions and Visa will work together on specially designed products. The pact also gives TripActions the opportunity to use tools and services that Visa has developed in-house and to gain access to the payment service provider’s global partnership network, said Michael Sindicich, general manager of TripActions Liquid.
“We’re going to do things on the marketing and technology sides and grow our business together,” Sindicich said, identifying broad-based B2B spending as a common area of interest for the companies.
A particular focus of TripActions and Visa is the digital payment channel, including virtual cards, which TripActions sees as “a” Main role Sindicich said spending on business travel following Covid-19 is increasing due to benefits such as spending controls, easy spending and contactless payment options due to increased hygiene concerns.
The deal comes amid what Sindicich calls resurgent travel-related spending by Liquid users as activity picks up again with rising Covid-19 vaccination levels in the US.
“Travel expense volume [via Liquid] is growing by 50 percent month after month, “said Sindicich.” It is very clear that with the introduction of vaccines, people are becoming more and more comfortable. “The recovery was broad-based, with business returns on travel, travelers and per-business bookings on the rise, he added.
After gaining market share in travel management for several years, TripActions ventured into making payments from February 2020 start the fluid map. The company landed one earlier this year $ 155 million Investment round citing the continuous improvement of the payment offer under the planned uses of this financing.
