With the recovery of the travel industry picking up the steam, payments Technology Company Mastercard and travel website Musafir have partnered to take travel bookings originating in the Middle East and North Africa, to new heights.
This partnership will be able to digitize end-to-end payment flows and launch new innovative payment products with attractive travel benefits to both consumers and corporates.
As per an analysis by the Mastercard Economics Institute, if flight booking trends continue at their current pace, an estimated 115 million more passengers in Eastern Europe, the Middle East, and Africa will fly in 2022 compared to last year.
This research further revealed that global leisure and business flight bookings have surpassed pre-pandemic levels with an estimated 1.5 billion more passengers predicted to fly in 2022 compared to 2021.
Amnah Ajmal, Executive Vice President, Market Development, Eastern Europe, Middle East, and Africa, Mastercard, stated: “At Mastercard, we are committed to contributing to the continued recovery of the travel and tourism sector through insights, data analysis, innovative digital solutions, and unique partner collaborations. We are continuously investing to innovate across the travel value chain. We are excited to partner with Musafir to provide digital-first experiences to their consumers.”
Sachin Gadoya, Co-founder and CEO of Musafir.com stated: “”Our partnership with Mastercard is a testament to our belief that travel is back and our commitment to providing both consumers and corporates with technology-led travel solutions.”
Industry sources added that Mastercard and Musafir have signed an exclusive partnership to launch innovative payment products and solutions across the MENA region, benefiting both consumers and corporates.
These will help digitize end-to-end payment flows, offering the Musafir clients with unparalleled travel benefits whilst empowering corporate clients with integrated travel expense management solutions.
Musafir added that it is leveraging technology to simplify travel and enhance the customer experience. Musafir recently unveiled an all-in-one Business Travel Management solution that seamlessly enables organizations to manage travel through automated approval workflows and travel policy compliance.
Musafir further explained that its Business Platform also empowers establishments with insightful reporting covering carbon emissions tracking, spend analytics, and much more. Over 1,700 businesses are leveraging the Musafir Business Platform to realize savings of up to 20% on their annual travel spending.