The travel industry has long struggled with complex and often archaic payment solutions that impact airlines and travel agents. Managing payments has always been a challenging task for firms across the sector due to the numerous payment methods, banks, and card suppliers worldwide. However, the founders of Hahn Air have announced a solution to this longstanding problem: the launch of a new global payment orchestration platform called FinMont, specifically designed for travel merchants. FinMont Payment Platform

FinMont is a PayTech firm offering a significantly different solution compared to other options available. The platform uses cloud-native technologies to integrate acquiring banks, payment, fraud, forex, and chargeback providers, and it aims to offer a fully automated and seamless payment solution for travel merchants.

Doing so, it will help reduce shopping cart abandonment, increase sales conversion, and ensure clear visibility across the payment flow for all payment transactions.

Automating B2B Payments for Increased Efficiency

One of the unique aspects of FinMont is that it streamlines not only B2C payments but also B2B payments. Combining both payments into a single view will help decision-makers identify and fix any inefficiencies in their current payment processes. The firm’s mission is to help travel merchants use payments as a strategic tool to stand out from competitors.

B2C payments have always been a challenge for many airlines and agents who lose customers in the buying process due to the limited payment methods they offer. Some even rely on only one payment provider, which is a high-risk strategy that can have huge consequences, especially if there is any downtime. Such limited solutions can also result in higher fees for payments. However, with FinMont, travel merchants will have access to a wide range of payment options, reducing the risk of shopping cart abandonment.

On the other hand, B2B payments have always been challenging for travel merchants because suppliers require unique information such as the time of payments, payment methods used, or invoicing processes. Whether travel merchants are pre-paying suppliers, paying them in multiple currencies, paying them on check-out or on receipt of an invoice, FinMont will streamline and automate the whole process, making it easier for merchants to manage their payments.

Complete Payment Ecosystem for the Travel Industry FinMont Payment Platform

The new payment orchestration platform aims to revolutionize payments by connecting multiple banks and providers seamlessly through one simple gateway. It will also improve payment authorization and conversion rates, reduce payment costs, and remove historic issues such as downtime or reliance on one payment provider. It will also give travel merchants more freedom in choosing their payment partners and accommodate industry-specific payment flows like IATA NDC.

The FinMont ecosystem will not only connect acquiring banks, payment, fraud, forex, and chargeback providers but also integrate with ERP/CRM systems and other travel-specific distribution channels, offering a complete payment ecosystem for the travel industry.

A Unique and Cutting-Edge Solution for the Global Travel Industry

Dr. Suby Valluri, CEO of FinMont, has worked in the travel and payment industry for many years with a software engineering and economics background. He has seen first-hand how complex and often archaic payment solutions impact airlines and travel agents. He believes that FinMont offers a truly unique and cutting-edge solution for the global travel industry to tackle both B2C and B2B payments.

Final Thoughts FinMont Payment Platform

FinMont’s launch is a significant step forward in improving payment processes for the travel industry. With its cloud-native technology and unique solutions for B2C and B2B payments, FinMont offers a complete payment ecosystem for travel merchants. By providing travel merchants with more freedom in choosing their payment partners, FinMont enables them to use payments as a strategic tool to differentiate themselves from their competitors. With its ability to streamline and automate payment processes, FinMont promises to deliver cost savings, improved payment authorization and conversion rates, and a reduction in payment-related issues. The platform’s integration with ERP/CRM systems and other travel-specific distribution channels makes it a comprehensive payment solution for the travel industry, allowing merchants to manage payments from a single platform without juggling multiple providers and systems. The launch of FinMont marks an exciting development for the travel industry and is sure to have a significant impact on the sector.