Paxport Launches Paxport Payment Services
Paxport has expanded its significant presence in the Travel Payments arena with the launch of a new division, Paxport Payment Services, as transaction volumes soar.
Now known as PaxPay and originally introduced as “MultiCommerce” in 2012 the growth of this state of the art Virtual Card Travel Payments solution has been relentless since Paxport’s acquisition of Multicom in February 2016.
Transaction volumes in 2017 are set to reach over £65m, an increase of 54% from £42m in 2016. This aggressive growth is expected to accelerate through 2018 to a staggering £350m following a record series of signings this year.
Further growth is expected with PaxPay driving payments within the market leading post booking merchandising services that Paxport is currently launching.
Dave Robinson, an expert in the payments industry and who has been part of the PaxPay platform since its inception, is heading up the new division. Dave has been largely responsible for the growing success of the PaxPay solution through recent months.
Tony Barker, CEO of Paxport, commented: “this exciting move reflects Paxport’s position as one of the largest issuers of prepaid virtual cards in the UK market, and a primary contender in the extremely competitive travel payments space. Our customers are readily able to take advantage of the benefits of our modern technology and business model across booking and post-booking merchandising.”
Dave Robinson, Head of Paxport Payment Services, added: “PaxPay is fully integrated into our booking and post-booking processes and we have leveraged that with a highly secure solution and extensive reporting for financial reconciliation. We are now further enhancing the solution, so customers can use the payment platform for other travel related payments such as hotel invoice settlement, ancillary service payments, and other supplier settlements.”
Paxport is a global Merchandising Distribution System (MDS) provider that combines extensive merchandising experience with comprehensive content, distribution and packaging technology and a state of the art virtual card payment solution.
The Paxport MDS enables automated transactions between travel service providers and resellers. This provides a modern aggregation service and the distribution of fares, bookings, and rich ancillary content such as seating, extra luggage, transfers, upgrades, and a pre-order service, in an easy to use unified manner.
As an IATA Strategic Partner Paxport is proud to be driving adoption of the new NDC standard, helping airlines and travel agencies to seize new opportunities.
Paxport was founded in 1994, has over 100 employees and serves over 80+ airlines and over 250 resellers in the UK and continental Europe. The Paxport technology centre is in Bristol, UK, and merchandising centre of excellence in Stockholm, Sweden.
For further information please see www.1095610015.n40872.test.prositehosting.co.uk or contact:
Dave Robinson, Head of Paxport Payment Services
Telephone: +44 (0)7950 786 813