Enhancing Payment Efficiency for The Cruise Line with Pax2pay
An Interview with Melanie Gambrill, Finance Director at The Cruise Line
Founded in 1993, The Cruise Line is the UK’s original luxury cruise specialist and is renowned for providing outstanding service with competitive pricing and value for money. Efficient payment management is crucial for their operations and customer satisfaction. We sat down with Melanie Gambrill, Finance Director at The Cruise Line to explore how The Cruise Line transformed its payment processes with the help of Pax2pay’s virtual card solution.
Pre-Pax2pay Payment Challenges
Before integrating Pax2pay, The Cruise Line faced several issues with their payment systems. Payments to cruise operators were made through bank transfers or various company cards, leading to fragmented financial management – ‘Bank transfers are slower and if urgent payment was required it was costly in bank charges’ said Melanie.
Staff, especially those working weekend shifts, struggled to access OTPs sent to corporate cardholders, causing delays and inefficiencies. Additionally, with payments spread across different cards, reconciling card statements was a complex and time-consuming process for the business.
Discovering Pax2pay: A Unique Solution
The Cruise Line weren’t strangers to Virtual Card solutions, they had previously worked with a few providers with one even closing their account due to insufficient volumes. Pax2pay works with businesses of all sizes, so the partnership was a great fit from the start.
The moment The Cruise Line realised the unique value of Pax2pay was pivotal. According to Melaine, the online system provided by Pax2pay was significantly easier to use compared to previous providers. Empowering reservation staff to create virtual cards streamlined the payment process, particularly for weekend shifts.
‘We immediately grasped the advantages of centralised accessible virtual card processing, particularly the rebate which was a very welcome new income stream!’ commented Melanie.
Impact on Growth
The integration of Pax2pay has led to remarkable improvements in The Cruise Line’s operations. With the time saved on payment processing, the team could focus on making more bookings, directly contributing to business growth. The income stream derived from using Pax2pay’s virtual cards has been a valuable addition, highlighting the financial benefits of the system.
‘We have seen an increase of 45% in our monthly rebates since we set up our Reservations Team on Pax2Pay so they can create virtual cards. This income stream helps to offset our credit card costs which are quite considerable for our business.
When we first started using virtual credit cards to pay our suppliers in 2018 we were only doing £1.1m per year, we are now doing well in excess of £4m (306% increase) and we anticipate this increasing exponentially’ commented Melaine.
Key Benefits of Pax2pay
The Cruise Line has experienced several key advantages since working with Pax2pay, including:
Growth Facilitation: The solution has facilitated business growth, particularly with home-based reservation agents who benefit from the streamlined payment process.
Prompt Payments: The ability to make prompt payments keeps The Cruise Line in sync with booking demands, maintaining strong business relationships and operational efficiency.
Centralised Payment Management: All card payments are now managed centrally, simplifying the reconciliation process.
Supplier Acceptance Boosted: Many suppliers accept virtual cards, facilitating smoother transactions.
Multi-Currency Flexibility: The ability to pay in different currencies has been particularly useful for BOATS as a global travel business.
Responsive Assistance: The team is quick to respond and always helpful, going above and beyond to ensure The Crusie Line’s needs are met.
Working with Pax2pay: Exceptional Support
The support from the Pax2pay team has been outstanding, ‘The Team is quick to respond and always helpful’ said Melaine, going above and beyond to ensure The Cruise Line’s needs are met. The ease of use of the system and the income stream generated are clear indicators of success. Melanie shared that ‘many operators now prefer card payments online as it is so quick’ compared to other payment methods, aligning perfectly with The Cruise Line’s operational requirements.
Aligning with Organisational Goals
Pax2pay has played a crucial role in supporting The Cruise Line’s growth and operational goals. The solution has facilitated business growth, particularly with home-based reservation agents who benefit from the streamlined payment process. The ability to make prompt payments keeps The Cruise Line in sync with booking demands, maintaining strong business relationships and operational efficiency.
Conclusion
For businesses like The Cruise Line, Pax2pay offers a robust solution that addresses key pain points in payment processing. The user-friendly system, centralised payment management, and exceptional support make Pax2pay an invaluable partner in driving business growth, revenue and operational efficiency. The Cruise Line’s positive experience with Pax2pay underscores how partnering with the right Virtual Card provider can help you take the pain out of your payments