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Boodil launches innovative Travel Payments Platform

By Gloria Methri

May 24, 2024

  • Advantage
  • Automated Payments
  • Boodil
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Boodil, UK, FinTech, Pay By Bank, Open BankingBoodil has launched a specialised payments platform tailored for the travel industry and has secured a partnership with ‘The Advantage Travel Partnership’. This collaboration offers Advantage members a new, cost-effective method for collecting client payments, potentially reducing card processing fees by up to 85%.

The new platform features a self-branded payment portal that encourages the use of their open banking payment method. Travel agents can securely collect customer payments remotely without manual intervention, in person, via unique links or QR codes sent by SMS or email.

The platform’s backend dashboard provides comprehensive transaction data, including the status of payment links. Key features include scheduling automated payment links for variable amounts, split payments, and the reissuing of links—all designed to streamline the payment process for travel merchants.

Harry Luscombe, CEO and Co-Founder at Boodil, stated, “Faster settlements and high-security levels are significant benefits for travel companies, alongside notable cost reductions compared to traditional card payments. We estimate travel merchants will save up to 85% on payment processing fees using open banking over traditional methods.”

Open banking, also known as pay by bank, requires strong customer authentication (SCA) with at least two authentication factors (password, OTP, fingerprint, or face ID), ensuring a secure and user-friendly payment process.

Paul Nunn, Advantage COO, said, “We continuously seek ways to add value for our members, especially in the payment space. Boodil offers a modern approach to payment collection that we believe will grow in preference. Through our partnership, members can offer alternative payment methods and reduce merchant processing costs.”

Dally Singh, CTO and Co-Founder at Boodil added, “We are delighted to partner with The Advantage Travel Partnership to roll out our cloud-based product across their members and support their businesses. Boodil’s core product aims to make payment collection easier, safer, and more cost-effective while seamlessly integrating into any business.”

Many of Boodil’s travel clients have already shifted over 70% of their card payments to Boodil, significantly saving on payment processing fees and streaming their processes.

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