Fast-Tracked Transformation: Travel Planet’s Journey to Streamlined Travel Payments with HSBC

Travel Planet is a Travel Management Company (TMC) based in the South of France. They provide a fully automated end-to-end tailored service for their customers for the booking and management of business travels.

In the business travel sector, managing bookings across multiple vendors and currencies can be complex, often requiring advanced payment systems. Travel Planet’s existing payment ecosystem presented several key challenges for the business. They required a banking partner with agile resources and robust global technical capabilities to help implement a real-time, multi-currency payment solution tailored for travel-related expenses.

The growing complexity of managing rail, air, and hotel bookings across borders necessitated a payment solution that was both flexible and scalable. For Travel Planet, partnering with HSBC proved to be a transformative step towards simplifying B2B travel payments while fostering innovation and growth.

HSBC partnered with Travel Planet to implement an innovative virtual card solution tailored to their needs. By integrating HSBC’s virtual cards with Travel Planet’s proprietary platform via API technology, the solution offered real-time card generation and seamless payment management across multiple currencies. The flexibility to customise card parameters for each transaction enhanced financial control for Travel Planet, improving security and transparency. This strategic collaboration not only addressed Travel Planet’s immediate challenges but also provided a scalable foundation for future innovation.

One of the most significant advantages of the HSBC virtual card solution was its ability to integrate seamlessly with Travel Planet’s platform, enabling real-time data analysis. By leveraging transaction data, Travel Planet is able to:

• Streamline vendor payments across regions
• Enhance visibility into expenses, allowing for more accurate financial forecasting
• Reduce administrative overhead through automation and standardisation

The partnership delivered tangible benefits, positioning Travel Planet as one of the leaders in digitalised travel payments:

• Empowered Efficiency: The smooth integration of HSBC’s virtual cards minimised disruption, ensuring operational continuity
• Operational Precision: Single-use virtual cards provided enhanced control over transactions, reducing risk and improving oversight
• Working Capital Benefits: Ability to benefit from a deferred payment enabling working capital optimisation
• Sustained Innovation: Travel Planet gained access to state-of-the-art virtual card technology, keeping them ahead in the competitive travel market

The partnership between Travel Planet and HSBC highlights the potential of strategic collaboration in transforming business operations. Through the adoption of HSBC’s virtual card technology, Travel Planet has successfully streamlined payments, optimised working capital, and enhanced customer satisfaction.

In an increasingly complex and competitive business environment, their journey showcases the value of innovation and the importance of simplicity and reliability in achieving sustainable growth.

For more information on how HSBC can help your business transform its payment solutions, contact your local HSBC representative or visit our website:
https://www.europe.business.hsbc.com/en-gb/products-and-solutions/hsbc-corporate-cards