What is TripPay?
TripPay is a technology company that was created to solve the issues and requirements related to managing the pay-ins and pay-outs of multiple parties in the travel industry.
By far the biggest feature TripPay offers to integrators and suppliers is massive savings through the consolidation of payouts from multiple sales channels and the outsourcing of many back-office accounting tasks.
Wink acquired TripPay in 2019.
Scenario
All small to mid-tier OTAs and travel agents outsource payment to TripPay and let it be responsible for acquiring funds from travelers and disbursing to hotels.
Here is what the workflow looks like:
- Funds from all travel-related bookings flow into TripPay.
- TripPay manages cancellations and refunds.
- Funds become available based on rules set by the integrator.
- Funds are consolidated for every supplier on TripPay.
- Payouts occurs when the payees want it to happen.
As a result, travel companies are freed up to focus on selling while TripPay handles all back-office tasks and can focus on offering the best payment methods, the best disbursement methods and receive volume discounts no single travel company could do by themselves.
Features
Most of TripPay’s main features occur under the hood. Those include:
- Managing companies and offices, with travel agent licenses, in multiple regions.
- Offer multiple [and local] cheap, payment options for travelers.
- Offer multiple, fast, cost-effective, disbursement options for all payees:
- Suppliers
- Affiliates
- Facilitiators
- Automating the disbursement of funds.
- Managing KYC (Know Your Customer) for all payor & payees.
- Supports 8500 variations of cancellation policy rules.
- Supports manual refund requests.
Features our customers can directly interact with:
- Embeddable payment widget you can include in your site to capture payment.
- Manage accounts.
- Manage mappings link your internal payees with TripPay accounts.