LONDON, April 3, 2024 /PRNewswire/ -- Nium, the leader in real-time cross-border payments, today announced its partnership with luxury tour operator Scott Dunn to issue virtual cards to its global network of hotel providers.
Nium's virtual card solution enables travel intermediaries to effectively pay airlines, hotels, and the global travel ecosystem via more efficient, cost-effective, and secure transactions in more than 20 local currencies.
Scott Dunn's extensive network of global hotel partners benefit from improved reconciliation, card scheme protection, and quicker access to funds, helping to maximise working capital and improve cash flow.
In the 12 months since working with Nium, Scott Dunn has been able to add new hotel destinations to its offering that it couldn't before, improve conversion rates among its customer base, and strengthen its provider relationships.
"Accelerated by the post-pandemic travel boom, high-net worth individuals and families are seeking new experiences and more bespoke holidays than ever before. In a short period of time, Nium's innovative virtual card payment solution has enabled us to expand our global footprint by offering more choice, flexibility, and control to our new and existing hotel partners around the world, in turn driving deeper connections, better prices, and improved experiences for our customers," said Mark Woodall, Chief Financial Officer at Scott Dunn.
"For decades, payments have been perceived as a necessary cost of doing business, and the travel industry is no exception," said Spencer Hanlon, Global Head of Travel Payments at Nium. "Our partnership with Scott Dunn is a great example of how this is changing. Today, virtual card solutions are helping travel businesses unlock value from payments to create new revenue streams and differentiate from the competition. We look forward to continuing to help Scott Dunn accelerate growth and meet the needs of its customers with our innovative payment solutions," he added.
The announcement follows the recent news of Nium's partnership with Secret Escapes as the fintech continues on its mission to transform the way hotels get paid worldwide. Its combination of virtual card solutions with an extensive real-time cross-border payments network for collections and payouts to bank accounts, digital wallets, and cards in over 100+ currencies and 190+ markets offers a unique proposition for the travel industry.
About Scott Dunn
Scott Dunn was first established in the UK over three decades ago, born out of a desire to revolutionise ski holidays for the luxury market. Since then, it's expanded to cover all seven continents and continues to expand its operational footprint in the U.S and Singapore following its acquisition by Flight Centre Travel Group in January 2023.
About Nium
Nium, the 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 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 190+ countries, 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.
Logo - https://mma.prnewswire.com/media/1678669/4628245/Nium_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/scott-dunn-selects-nium-to-improve-hotel-cash-flow-management-with-virtual-card-payments-302106339.html
