SUNRATE announces strategic partnership with Voxel

India - English

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May 28, 2024, 02:00 ET

SINGAPORE, May 28, 2024 /PRNewswire/ -- SUNRATE, an intelligent global payment and treasury management platform announced today at Bavel Travel Summit 2024, that it has entered into a partnership with Voxel, an Amadeus company and a leading provider of electronic invoice and B2B payment solutions for travel sellers, hotels, and other travel players.

The partnership builds on the virtual card issuing engine and know-how of SUNRATE, which will join Bavel Pay, Voxel's payment solution, and will enable Voxel and its clients to scale and expand in the Asia-Pacific region seamlessly, given that SUNRATE VCCs allows the settlement of card spends in more than 15 currencies. Voxel's technology offers its clients access to a wide range of payments services for travel sellers and a more automated electronic way to manage invoices for tour operators, TMCs, hotel aggregators, and hotels.

The partnership also brings SUNRATE commercial cards into Voxel's suite of payment options, enabling Voxel's partners to optimise payments by selecting the payment method that is most appropriate for each transaction type.

Coco He, General Manager, SUNRATE said, "SUNRATE has been revolutionising travel B2B payments and this partnership with Voxel puts us firmly on track to be the one-stop B2B partner for the travel industry as we remain committed to continuously innovate our online travel solution offerings."

Héctor Martín, Vice-president of Global Sales at Voxel said "Thanks to the incorporation of SUNRATE into our Bavel Pay payment provider hub, we expand our offering to all our clients by giving them access to a partner specialized in the Asia-Pacific region". Martín also said "This agreement is just another step in our strong commitment to simplifying payments in the travel industry, allowing each client to use the service that best suits their needs and currency zone in which they operate."

SUNRATE is certified to the international financial data security standard: Payment Card Industry Data Security Standard (PCI DSS) Level 1.

About SUNRATE

SUNRATE is an intelligent global payment and treasury management platform for businesses worldwide. Since its inception in 2016, SUNRATE is recognised as a leading solution provider and has enabled companies to operate and scale both locally and globally in 190+ countries and regions with its cutting-edge proprietary platform, extensive global network, and robust APIs.

With its global business headquarters in Singapore and offices in Hong Kong, Jakarta, London and Shanghai, SUNRATE partners with the top global financial institutions, such as Citibank, Standard Chartered, Barclays, J.P. Morgan and is the principal member of both Mastercard and Visa. To learn more about SUNRATE, visit https://www.sunrate.com/

About Voxel, an Amadeus company

Voxel develops digitalization solutions for the value chain: e-invoices and approval flows, e-payments, supplier management, e-orders and delivery notes, expense management, and connection with public administrations through its Bavel platform.

Bavel Pay is the B2B payment manager, Bavel Billing is the leading e-invoicing solution and Bavel Procurement digitalizes the entire supply chain and automates all related processes. The Bavel platform is made up of 70,000+ hotels, 1,000+ tour operators and travel companies, 1,200+ food & beverage and goods and maintenance suppliers, and 3,000+ restaurants and franchises. Voxel is present in 100 different countries and the Bavel platform handles more than 100 million transactions per year.

Voxel has recently joined Amadeus IT Group, with the ambition to create the largest payment partner for the travel industry.

The company's purpose is to transform the workplace into a place of personal growth to promote a more conscious society, understanding the business world through collaboration. The goal is to empower companies to become more conscious and evolve towards "Great Places to Grow".

SOURCE Sunrate