Trip Affiliates Network (TA Network) has launched a global digital payment hub service, BorderXP (BXP), designed to help businesses simplify collection of payments cost effectively and instantly as they seek to expand their domestic and overseas sales channels.
Integrated with a portfolio of over 50+ licenses held across the globe, the service includes e-Wallets, payment gateways, virtual card accounts and virtual bank accounts. BXP provides a comprehensive , global footprint to process online payments with business partners in a transparent, timely, cost-effective and secure manner.
BXP’s Fintech Innovation Lead Tham Shiming commented, “BXP is a culmination of our efforts to provide seamless, instant and cost effective payment solutions for high volume suppliers such as hotels and inbound/outbound operators using our hospitality and travel tech platform services or scaled to their business requirements via BXP's payment APIs.
TA Network’s differentiated online connectivity with suppliers like hotels, coupled with BXP’s digital payment services, empowers suppliers to transform and expand their B2B partnerships with domestic/overseas agents, wholesalers and corporates without worrying about credit or payment issues”.
With the onset of Covid-19, the pandemic has created a major shift towards digital-first transactional experiences which requires instant and secure payments within the global B2B payments landscape, instead of relying on traditional credit facilities. Through the TA Network platform and BXP’s payment APIs, users will have access to a “plugin” payment tool that empowers them to adopt cost-effective online prepayment solutions for their sales channels, execute cross border payments in almost real-time and in multiple widely used currency pairs. Users can easily track and reconcile payments using the BXP portal.
Tham Shiming added: “In a post-COVID new normal, TA Network also recognises the need for business owners to adopt pre-payment mechanisms instead of relying on traditional post-payment credit facilities.”
Josef Foo Managing Partner TA Network said, “We look forward to making instant B2B cross border payments a fixture for the offline -to -online sectors as the pandemic has reinforced the need for companies to undergo digitalisation which is critical for the new digital economy. BXP’s architecture is designed to scale up operationally and to support the rapid growth of our core businesses. We see tremendous opportunities in providing cross border B2B digital payment solutions across parallel industries. We will continue to serve our long-tail B2B client base while exploring new markets and expanding into non-core business.”