Allianz Trade is teaming up with Mastercard to better support business-to-business travel payments, boosting protection over B2B payment flows.
According to a press release, Allianz Trade, through its pay solution, will be extending trade credit insurance to issuers operating in the travel industry.
The move will extend credit insurance to issuers that leverage Mastercard Virtual Card Numbers (VCNs), allowing them to grant credit terms to online travel agencies (OTAs) more securely and reduce their exposure to travel payment flow risk through Allianz Trade’s insurance offering.
With Allianz Trade’s extended insurance offering available through Allianz Trade pay, Mastercard VCN issuers can more confidently support B2B travel flows, as Allianz Trade will manage the collection process and indemnify the issuer if necessary should an OTA fail to settle its obligations.
