Singapore: Mystifly is launching a new payment and settlement solution MystiPay for the travel industry. The company is launching this new solution in-partnership Diners Club International.
Under the new tie-up, Diners Club International will act as the payment facilitator for purchases made through MystiPay. MystiPay coupled with Mystifly’s ASRHub drives cost efficiency and opens new revenue opportunities for travel sellers.
MystiPay said that it is building a profitable relationship between airlines and travel intermediaries in a more favourable way. By maximizing the value of payment incentives while removing the existing inefficiencies and challenges like payment risk and settlement time, the company claimed to be driving a revolution in the travel payments industry.
“The partnership with Diners Club International complements our goal to reduce airline payment costs and settlement time for bookings done through Mystifly’s airline retailing platform,” said Rajeev Kumar, Founder and CEO, Mystifly.
Diners Club International, part of the Discover Global Network, is a global payments network accepted at nearly 40 million merchant locations and nearly 1.3 million ATMs in more than 200 countries and territories. The Discover Global Network includes Discover Network, Diners Club International, PULSE and over 20 alliance partner networks across the globe.
“We are excited about the Mystifly partnership and the opportunity to offer the airline industry a new lower cost payment option,” said Matt Sloan, VP – International Markets, Diners Club International.
The partnership is testament to the important role Diners Club International has in the airline and travel space. Offering benefits to travel intermediaries and airlines alike added Sloan.