Paysafe partners with Virgin Voyages
Payments platform Paysafe (NYSE:PSFE) today announced a partnership with Virgin Voyages, Richard Branson’s lifestyle travel brand focused on delivering cruise vacations for adult travellers. Paysafe will ensure travellers can quickly and securely pay online for their next cruise with Virgin Voyages, whose payments risk will also be mitigated by Paysafe’s bespoke travel solution.
Paysafe will allow Virgin Voyages to better serve its global customer base by accepting payments in multiple currencies besides the U.S. dollar.
The relatively high-risk nature of cruise travel payments – with cruises often booked many months in advance of travelers’ setting sail – will be mitigated by Paysafe, which has deep expertise in risk management for travel merchants. Paysafe’s custom risk product for Virgin Voyages leverages Mastercard’s T&E Risk Monitor, which is powered by Actuary, to provide the merchant with full transparency on the holdback and release of funds for processed ticket sales, ensuring effective credit risk management.
Paysafe will also help Virgin Voyages negotiate the issue of fraud and chargebacks through its dedicated in-house risk and chargeback teams. In addition, a Cruise Line Relationship Manager at Paysafe will enable Virgin Voyages to overcome specific payments challenges.
Afshin Yazdian, President of Merchant Solutions at Paysafe, said:
“We’re delighted to partner with Virgin Voyages, the latest venture from the iconic Virgin Group and its co-founder Richard Branson. We look forward to supporting this unique travel brand’s growth by leveraging our travel payments experience to facilitate the reservation process for Virgin Voyages and its customers.”
John Birdsall, Senior Director of Corporate Accounting at Virgin Voyages, commented:
“Virgin Voyages is strongly focused on giving our Sailors the vacation of a lifetime, and this covers every aspect of their experience including booking their trip and making safe and secure online payments. Our partnership with Paysafe has helped create a smooth and seamless process.”