THE new five-year agreement between CVFR Travel Group and ASX-listed Mint Payments (TD breaking news) is set to offer travel agents a new option for payment processing, with the solutions set to roll out in the final quarter of 2020.
The new CVFR Payments division will offer the group a “whole new revenue stream,” according to MD Ram Chhabra, who said the platform would initially offer debit card, credit card and EFTPOS solutions.
However it is also set to expand with bank transfer and virtual card payment options, as well as foreign exchange, giving new options to anyone in the travel ecosystem including agents, suppliers, wholesalers and tourism operators.
Mint will be the exclusive payments partner across the CVFR network in Australia and NZ, with a co-branded solution including terminals (pictured) and online systems for processing payments.
“Just as CVFR is a one-stop solution provider for travel, Mint is a one-stop technology provider for all payment types,” said Mint Payments CEO Alex Teoh.
“We look forward to working together to provide travel agents with our enhanced and intuitive product suite that has been proven to boost efficiencies and reduce costs,” he said.
The ASX announcement noted CVFR’s network of 700 agencies historically processing over $600 million in payment transactions annually.
The post CVFR Payments launched appeared first on Travel Daily.
Source: traveldaily