How to navigate your way to faster payments and low-cost currencies in the travel sector

Is it time to ditch cash? If your business is travel, to be nimble means having fast access to digital payment solutions, world currencies, and cutting down on unnecessary fees.

Having the right tools at your side in an industry fraught with volatility can make the difference between just surviving, and thriving. So read on to find out how we’ll help you:

Need a solution right away? Look no further.

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Making payments simple and secure

For businesses in the travel sector, as you scale up, you’re almost guaranteed to outgrow any payment processing solutions that aren’t speedy or secure. Customers and suppliers value a smooth end-to-end service more than ever. But does this sound familiar?

You need faster payments

• Using payment corridors like SWIFT mean a lengthy 3-5 business days for your transfers to crawl from one bank to another – with extra fees on top, pushing up your operating costs
• You don’t have a clear way of knowing when payments arrive at your recipients’ account
• Approvals take far too much time
• You’re reliant on cash or prepaid accounts to move money abroad

Take on higher payment volumes and receive international payments easily

Being able to move large volumes of money fast between your customers and suppliers is key. With Revolut Business’s multi-currency accounts, you can receive international currency payments directly into their own dedicated accounts.

How it works
Add as many accounts as you need per currency in-app (bonus: there’s no limit). All your currency accounts are in your Revolut Business app, and are accessible in a few taps or clicks. Your incoming payments stay in their original currency – we won’t exchange them unless you ask us to.

Your payments received are quick to access, simple to reconcile, and always up to date.

See if Revolut Business is available in your country here.

“A message to other founders: do it, without any doubt.”
“Revolut Business cuts out all the unnecessary steps to allow entrepreneurs to focus on developing their business. Paying freelancers and receiving payments has never been so easy: seamless, in a few clicks. A message to other founders: do it, without any doubt.”
– Ashraf Sarawi, CEO & Founder, Simsem Travel

Simplify your payment processing in a click.

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Unlocking foreign currencies

Your next challenge: finding a way to access foreign currencies that won’t break your budget – because right now:

You’re exposed to currency fluctuations

• You’re exchanging multiple currencies, but the rates are often too high
• Your available exchange rates are unpredictable and volatile, and you can’t easily adapt this to your budget
• It’s difficult to plan ahead as you can’t be certain what the currencies you need in a month, or a year, are going to do in that time

Future-proof your payment operations and send payments in over 25 currencies
So now you’ve got a low-cost, fast way of accepting payments from a wide range of currencies, it’s time to streamline your payment operations and make sure they work for you tomorrow, as well as today. Paying your suppliers shouldn’t cost you the earth, no matter where they are.

How it works
With Revolut Business, sending payments in over 25 currencies is simple. Send local and international payments directly from any of your Revolut Business currency accounts. If you’re sending money in one currency and your recipient is receiving in another (say GBP > USD), we’ll exchange at the real exchange rate for money currency exchanges. This means you’re not ripped off or charged a rate we’ve made up.

See our exchange fees here. Exchange rates can change, so always check in-app for up-to-date rates. See how exchange rates work for more info.

If you’re making the same routine payments to global suppliers every month, you can use automatic Bulk Payments to cut down on repetitive admin (and send up to 1,000 payments at once).

How it works:
Add your supplier’s payment amounts and details into a CSV file, upload it in-app, and schedule the payments to leave your account at a date and time that suits you. It’s that simple. Another exhausting admin job, axed. Hours  – potentially days – of manual payment processing done in a few clicks.

“Make payments in a few clicks at a great rate”
"The ease of use means we make payments in a few clicks at a great exchange rate. Revolut Business saves us both time and money.”
– Alžbeta Martišová, Head of Treasury, Kiwi

Make foreign exchange work for you, with every currency you need.

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Using cards to encourage and track spending

Finding ways to make spending frictionless is vital. So controlling and reconciling spend can be hard if:

• Your spending isn’t transparent or trackable
• Team members share a single card, increasing risk and burdening your finance team with longer approval times
• Tracking your local and overseas payments and expenses is difficult from multiple accounts

Tap into a seamless end-to-end payments ecosystem
If you’re taking customer bookings as well as processing the end traveller’s payment (using the ‘merchant model’), our virtual cards are key to simple, secure payments from customers to partners.

Creating virtual cards in your Revolut Business account means empowering your employees to spend what they need. These cards can also be used to simplify end-to-end payments between your customers, you, and your partners and third-parties.

How it works
When you invite your team to join Revolut Business under your account, give them spending power with debit cards – both physical and virtual. These are simple to set up in-app in a couple of taps. You can set permissions and limits on these, too, establishing tiers of spend.

This means if you only want administrative staff to buy lunch on a Friday, they can. Do you need your tour operators to spend in multiple currencies? It's built into all your cards. Want to make sure your monthly subscriptions are properly accounted for? You got it. Your end-of-month accounts will never be a surprise.

When customers book their travel through you, you can issue virtual cards to airlines, accommodation, car hire companies, tours and more, to take payment from. Your customers don’t have to share payment information between platforms, cutting out the potential for counterparty fraud, and making your reconciliation miles easier.

Get business debit cards and spending tools in one app.

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>>> How BizAway moved from prepaid cards to one central account

Get real-time access to sales and transaction data across your organisation
A major issue for companies in the travel industry? Having eyes on where their money’s going. With a Revolut Business account, you'll have a double-barrelled approach to seeing your payment data.

How it works
It starts with your team. When you invite them to join your account, you’ll have the option to give them roles and permissions that mirror their own in your business. So setting up someone as an ‘Accountant’ might give them access to all spending data across your company, but a ‘Sales Executive’ might only be able to see what they’ve spent themselves.

See all your company spending data in a personalised analytics dashboard, at a glance. Here, you’re free to poke around and get as detailed as you like – filtering data on vendors, days of the week, per team member, and more.

Once your team members do spend, they can upload expenses directly into the app, where they can be approved in a tap.

Do it all with a Revolut Business account

Of course, you need an account that sets you up to succeed, with tools, apps and features you can depend on. Tools to grow with you as you scale up, and give you a way to navigate a world where volatility is becoming more and more commonplace.

Joining Revolut Business and adopting a new kind of business account, you’ll soon find:

• You get payments when you need them. If your transfers land in your account at speed, that gives you the security to easily reconcile your payments. Not only will your finance team thank you, but your operations costs, admin time, and risk, are all lowered. Phew.
• Your payments cost is low. Imagine how much more nimble your business would be if non-domestic payment processing wasn’t so complicated…or if you didn’t need to worry about constant currency peaks and troughs. What about if your transaction fees were transparent, and payment delays were a thing of the past?
• You’ll incentivise your customers and suppliers to keep coming back to you. Customers' expectations for a tailored travel experience have never been higher. Accepting your customers’ preferred currencies and paying suppliers in theirs benefits everyone in the supply chain.

So what are you waiting for? Get access to the tools, ways and means of streamlining your processes, saving time, and saving money. We’re trusted worldwide by 200,000 businesses, and over 10,000 new businesses join us every month from across the globe.

Get started by clicking the link below and talking to our friendly sales team.

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See our Business Terms and Conditions here. Metal cards are available with a paid plan. See business account pricing here.