We explore one of the emerging topics in the travel sector: how instant payment networks are transforming B2B payments. The convergence of technology and payments offers enormous opportunities like more flexibility and efficiency but also presents significant challenges in a rapidly evolving environment.
Instant payments in the B2B travel space
In the area of payment innovation, although virtual credit cards (VCCs) remain the most widespread method, instant payments represent a good example of technological progress and offer another option for business-to-business transactions.
An instant payment is a payment method that enables transactions to be settled within seconds. Traditionally, sending payments, especially across borders, could take days or even weeks due to the involvement of multiple correspondent banks. Instant payments eliminate this delay, allowing money to be transferred and settled almost immediately, regardless of whether the transaction is local or international.
Instant payments are not just a trend but a significant shift in how businesses operate, especially in the travel sector. Such change is driven by the increasing demand for real-time transactions, improved cash flow management, and the need to eliminate the inefficiencies of traditional banking methods.
The growing importance of instant payments
In the context of the Bavel Travel Summit, an event specializing in B2B payments organized by Voxel, we discussed this topic. The conversation included the participation of Vivian Dixon (Global Director Cross-Border Solutions at Visa), Yago Casasnovas (Head of Payments, Fraud Prevention and Distribution at Air Europa), Carlos Fernández (CEO of Quadrant TravelTech) and Borja Risueño (Sales Director at Voxel).
Vivian Dixon shared VISA’s vision on instant payments: “We want to be the network of networks. We’ve been heavily investing in cross-border solutions and instead of having different banks holding all those physical currencies around the world, which takes a lot of time and is a very expensive operation, you can do that using our virtual accounts.”
In this excerpt from the talk, Vivian identifies what she believes is the biggest trend in B2B payments, which has to do with the consumerization of B2B payments:
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Approach for the airlines and small and medium travel agencies
For Air Europa, embracing new payment technologies is not just about staying competitive—it’s about creating flexibility and improving efficiency. Yago Casasnovas highlighted the challenges airlines face with traditional payment methods: “The relationship between airlines and travel agencies is very specific. We’re looking for new possibilities in the realm of payments and not being limited to the current solutions.”
In the case of travel agencies, there is also a lot of ground to cover. Carlos Fernández said: “In Spain alone, there are over 4,000 travel agencies handling more than 5 billion interactions annually without access to digitalization or new payment methods. Instant payments could be more useful for them than for larger players.”
Carlos stressed that many small and medium agencies lack the resources to manage deposits, handle multi-day bank transfers, or access dynamic rates. By introducing instant payments, Quadrant Travel Tech aims to democratize payments innovation to those companies, enabling them to compete effectively within the market.
The use of instant payments in companies such as Air Europa and Quadrant Travel Tech is possible through a B2B payment channel such as Bavel Pay from Voxel, which is connected to VISA. In fact, these companies are already collaborating to offer greater speed, transparency and boost cash flow management for companies in the sector.
