Flights application programming interface (API) provider Duffel has launched payments solution Duffel Payments, which allows travel businesses to accept customer payments online by integrating with the Duffel API, allowing them to earn money by selling flights, FinTech Finance reported Tuesday (Feb. 8) .
The Duffel Payments platform was built for the travel industry through a partnership with payment service provider Stripe, according to the report. There is no upfront capital or down payment required for Duffel Payments users.
“Securing a payments provider in the travel industry is notoriously difficult,” said Duffel CEO and Co-Founder Steve Domin in the report. “Other payments solutions require new businesses to have large amounts of money upfront before they even receive payment from customers. These solutions can also make it challenging to bundle up other products, refunds can take a while, and the payment process itself can be temperamental.”
Duffel Payments lets travel sellers add markups to their fares and bundle other travel products into a travel package for customers, whom they can charge directly, the report stated.
“Companies like Duffel are opening up the travel industry to new players by breaking down many of the barriers that prevent companies from getting started and succeeding,” said Stripe Head of EMEA Startups Mark Barry in the report. “We’re excited they are using Stripe’s financial infrastructure to abstract complexity and create new possibilities.”
Duffel Payments is available in more than 30 countries and more than 135 currencies, according to the report.
In other news, the $2.9 billion merger of Frontier Airlines and low-cost competitor Spirit Airlines into one “ultra-low fare airline” that’s expected to be finalized in the second half of the year kicked off what could be a hectic 2022 for the travel industry.
Read more: Travel Sector Eyes Expansion as New Brands, Services Take Flight
PYMNTS’ “Digital Economy Payments February 2022 US Edition — US Consumers And The Post-Holiday Digital Shopping Ramp-Up,” found that travel is very much on the minds of the digital-first consumer this year among 2,600 respondents.