Travel Expert enhances profitability with one-stop payment solution

Founded in 1986, Travel Expert has grown from a local venture to a Hong Kong Stock Exchange-listed travel conglomerate with five distinctive travel brands, all under the Travel Expert umbrella.

As the travel industry is constantly evolving in the digitalised world, Travel Expert needs to transform from a traditional travel agency business to reach customers from across the globe with multiple touchpoints. From accepting payment to trading with international suppliers, Travel Expert needs a fast and secure payment solution to catch up with its rapid growth.

Kelvin Ko

Managing Director, Travel Expert

"We hope to expand overseas in order to enlarge the customer base. Airwallex’s customers-first approach and new features are a good fit for our business needs.”

Challenge 1: Accepting payments from different customer segments quickly and securely

Customers who book holiday packages through Travel Expert usually need to pay in advance to secure their booking. Given the large transaction amounts and for security reasons, customers had to visit one of the Travel Expert branches to make payments. Payment methods were limited too. In the digital age, this payment hurdle may turn away Gen Y and Gen Z customers, harming the company’s profitability and growth potential. Travel Expert urgently needed a cost-effective solution to widen payment acceptance and methods. 

Solutions & Results: Multiple secure online payment options to enable instant successful transactions

By plugging in to Airwallex’s Online Payment, Travel Expert can now offer a fast and secure checkout process on their official website, giving customers confidence and a peace of mind to make instant purchases. Travel Expert’s sales teams can also issue Airwallex’s Payment Links directly to group and corporate clients through messaging tools to seal the deal. 

With Airwallex’s Online Payment and Payment Links, and a wide range of local and international payment methods that come with it including credit card and Alipay HK, Travel Expert managed to improve the rate of successful transactions while reducing the number of invalid orders, accelerating their digital growth. 

Challenge 2: Physical corporate card lacks security and flexibility

Traditionally, corporate cards are notoriously difficult to apply and usually need to be shared among multiple departments. Travel Expert was no exception. Not only is it hard to track departmental expenses, a physical corporate card is also easily prone to fraud, jeopardizing the business’ financial integrity. If lost or stolen, the considerable wait time for re-issuing a corporate card will seriously impact business operations. 

Solutions & Results: Airwallex Borderless Cards ensure timely payments to international suppliers 

With the virtual Airwallex Borderless Card, Travel Expert can settle payments with suppliers around the globe in a timely manner without juggling between departments or the card being lost or stolen. In fact, Travel Expert can easily issue cards on demand in no more than a minute, empowering departments to settle payments with suppliers at their own pace — be it hotels or tour operators across different time zones — by setting spending limits and other restrictions to minimise the risk of fraud and significantly improve productivity.   

Gordon Lam

Senior Marketing and Product Manager, Travel Expert

“While our business is transforming, we’d like to select trustworthy and value-aligned partners to grow with us. As such, we chose Airwallex.”

Challenge 3: Global expansion requires a cost-effect banking solution

Travel Expert builds its impressive portfolio of travel products and offerings by working closely with global suppliers in destinations far and close. Eyeing overseas expansion, Travel Expert needs a cost-efficient payment solution to settle international transactions with these suppliers; otherwise, the hefty transaction fees and expensive currency exchange imposed by traditional banks will heavily eat into their hard-earned profits.

Solutions & Results: Saving 99% transaction fees including up to 3% in FX

Airwallex charges no international transaction fees, and offers market-beating exchange rates that are usually 1-3% better than what traditional banks can offer. With Airwallex, Travel Expert saves up to 3% in currency exchange every time they need to pay overseas hotels and accommodations. By reinvesting these savings into their business development, Travel Expert can expedite their foreign market expansion plan.