From Winter Sports to Payment Pioneers, Mia Stone from SkiLine talks Virtual Cards.
SkiLine Overview
Established in 1995, SkiLine is a multi-award-winning winter travel specialist based in the UK that has dominated the niche it carved for itself decades ago by fostering a vibrant community of winter sports enthusiasts and a customer-centric approach.
COVID-19: A Time of Reckoning
Like so many others, COVID-19 was a time of upheaval, a time to step back, rearrange, reorganise, and re-prioritise. Before adopting our virtual Cards, Ski Line relied heavily on traditional Bank transfers to pay suppliers. This method exposed them to a myriad of financial risks and chargeback fees.
In fact, SkiLine faced an estimated £500,000 in chargebacks, with 90% of those requiring lengthy resolution processes. This created a pressing need for more secure and streamlined payment solutions. It was during this period of difficulty that Pax2Pay was recommended to them by a trusted source.
Implementation:
The implementation was an absolute success, seamless and efficient. SkiLine’s team found the card solution was easy to integrate into their existing systems and posed no problems whatsoever during the onboarding.
One of the standout features was the ability to use on virtual card for multiple bookings, further streamlining and simplifying their accounts payable process.
Impact:
Enhanced Security and Peace of Mind: The integration of Pax2Pay’s virtual card solution provided Skiline with a much-needed boost in payment security. The addition of authenticator codes for every transaction ensured an added layer of protection, significantly reducing the risk of fraudulent activity. This was especially important in the wake of previous payment challenges.
Simplified Reconciliation: The shift to Pax2Pay also simplified financial reconciliation. The detailed transaction records provided in Excel and PDF formats made it easier for Ski Line’s accounting team to manage payments. The ability to handle multiple payments on a single card was another key benefit that simplified bookkeeping.
Future Outlook: Ski Line’s positive experience with Pax2Pay has led them to recommend the solution to others in the industry. They are confident that the system will continue to meet their evolving payment needs, and they look forward to maintaining an efficient and secure financial system as their business grows.
Key Takeaways:
- Security: Pax2Pay enhances payment security, reducing the risks associated with chargebacks and fraud.
- Efficiency: The solution streamlined payment processes, saving time and improving operational efficiency.
- Reconciliation: Easy-to-access transaction records made financial management much more straightforward for the team.
- Integration: The smooth onboarding process ensured minimal disruption to business operations.
Conclusion:
The shift to Pax2Pay was a resounding success. At a time of significant change, they have not only addressed the critical pain points in their payment processes but have also set themselves up for continued success with a reliable, secure, and efficient financial system.