Live Max, Agoda, NTT DATA, NETSTARS, Mitsubishi UFJ NICOS, and Mastercard Expand VCN Payments for Hotel Reservations and PaymentsStarting at 168 Live Max Hotels
October 2, 2024
Live Max, Agoda, NTT DATA, NETSTARS, Mitsubishi UFJ NICOS, and Mastercard Expand VCN Payments for Hotel Reservations and Payments Starting at 168 Live Max Hotels
Live Max, Agoda, NTT Data, NETSTARS, Mitsubishi UFJ NICOS, and Mastercard announce that will begin introducing corporate payments using Mastercard virtual card numbers (VCN*1) at 168 Live Max hotels nationwide from October 2, 2024.
Under this system, Agoda issues a VCN based on travelers’ booking information, the VCN payment is processed through straight-through processing (STP*2) by NETSTARS. This enables LiveMax hotels to make virtual card payments directly without manual intervention.
This simplifies payment processing and reconciliation at LiveMax hotels, reduces human errors, increased operational efficiency in the billing process, and optimizes cash flow. It also reduces the risk of uncollected payments and contribute to improved productivity. Additionally, the use of STP solutions and VCNs ensures secure payments that significantly reduce the risks of fraudulent use and chargebacks.
Rei Tanaka, Director of Live Max said:
“We are very pleased to introduce VCN payments as a new solution in the Japanese hotel industry through our collaboration with Agoda, NTT DATA, NETSTARS, Mitsubishi UFJ NICOS, and Mastercard. Leveraging our experience in hotel operations, we will provide feedback on the VCN payment solution’s implementation and promote its benefits, contributing to the adoption of VCN payments in Japan.”
Hiroto Ooka, Associate Vice President of North Asia at Agoda, said:
“With this payment solution, we will equip hotels with the necessary technology to effortlessly integrate VCN payments while benefiting from our premier marketing programs. This initiative aims to enhance the visibility of accommodations, drive an increase in bookings, and help travelers see the world for less.”
Shinichiro Nishikawa, General Manager of Global Payments & Services Division, Payments Business Group, NTT Data said:
“We are very pleased to be working with Agoda, NETSTARS, Mitsubishi UFJ NICOS, and Mastercard to provide VCN payments to LiveMax and NTT Data which has been providing cashless payment solutions to many merchants for many years, aims to widely deploy VCN payments to lodging businesses in the future based on the achievements of this case study. We will continue to contribute to the digital transformation of payments in Japan to improve the operations and cash flow of lodging businesses, which are still suffering from the lingering effects of the Corona disaster and labor shortages.”
Tsuyoshi Ri, President and CEO of NETSTARS, said:
“We are pleased that our multi-cashless payment solution can contribute to the hotel’s payment and billing efficiency. Our company will continue to drive the digital transformation of payment operations by leveraging our experience and technological strengths We will continue to collaborate with many hotel chain partners to promote VCN payments.”
Norihiko Sumita, President, Executive Officer at Mitsubishi UFJ Nicos Co Ltd.
“This initiative is a first for us, and we believe it will be a major step forward in advancing the digital transformation of billing and settlement operations, in addition to the cashless system for corporate customer transactions at hotels. We will promote VCN payment solutions to hotels in Japan by leveraging our long-cultivated know-how in the credit card business and our extensive merchant network and will hotels in Japan to improve operational efficiency and attract more customers.”
Ken Uchiyama, Country Manager, Japan, at Mastercard said:
“The use of VCN in the Japanese market is gaining momentum, with many hotels in the travel industry adopting them. This introduction of VCN payments not only optimizes business-o-business transactions between Agoda and Live Max group hotels but also represents a crucial step in advancing the digital transformation of the travel industry as a whole. Mastercard, through collaboration with our partners, will continue to support the tourism industry and regional revitalization, ensuring that domestic and international travelers can enjoy safe, secure, and convenient cashless payments.”
Mastercard VCN payments are gaining traction, particularly in the international travel industry, due to the growing number of business partners and the complexity of distribution channels driven by globalization. This adoption is helping to streamline payments between travel agencies (both traditional and online), travel management companies (TMCs), and hotels. Currently, VCN payments are used daily at hotels in over 200 countries worldwide.
*1 VCN stands for Virtual Card Number, which is issued as a virtual sub-number based on a corporate Mastercard credit card (purchasing card). VCNs can be issued multiple times within the credit limit of the parent card, and can be configured for single-use transactions or limited to specific numbers of transactions or time periods. Restrictions and conditions, such as ‘available amount’ or ‘usage period,’ can be set for each VCN. All charges are billed collectively to the parent cardholder’s account.
*2 STP refers to a series of processes, from payment approval to payment, that take place automatically without the supplier having to manually input VCN card numbers and other information.
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About Livmax Hotels & Resorts https://www.hotel-livemax.com/
LiveMax Hotels & Resorts is one of the largest directly managed hotel brands in Japan with 168 hotels nationwide.
LiveMax Hotels: 143 hotels nationwide
We offer a new type of hotel that is required by the times. Reasonably priced business hotels for business trips and training. Our hotels are highly reputed by our regular customers and are equipped with the best facilities to make your stay comfortable.
LiveMax Resorts: 25 properties nationwide
We aim to provide resort hotels that can be used without hesitation under the theme of “making resorts more accessible,” and will meet various needs such as guest room open-air baths and spas using natural hot spring water and buffet-style meals.
About Agoda www.agoda.com
Agoda offers the best rates on more than 3.9 million hotels and vacation rentals worldwide, as well as a variety of travel products such as airline tickets and airport transfers. Agoda’s website Agoda.com and mobile apps are available in 39 languages, and customer support is available 24 hours a day, 7 days a week. Agoda, a Booking Holdings (Nasdaq: BKNG) company, employs more than 6,700 people in 31 offices around the world, including its headquarters in Asia, and is dedicated to developing and delivering the most convenient travel booking service using the industry’s leading technology.
About NTT DATA Corporation https://www.nttdata.com/jp/ja/
NTT DATA provides IT services in more than 50 countries around the world with the aim of creating a prosperous and harmonious society. NTT DATA provides a wide range of services from consulting to system development and system operation, looking to the future together with its customers to transform business and solve social issues using digital technology.
In the settlement area, we have been operating “CAFIS,” one of the largest cashless settlement platforms in Japan in terms of the number of connected companies and transaction volume, for 40 years since 1984. Going forward, NetSTARS will continue to support the further growth of the cashless market in Japan based on its extensive know-how and operational track record.
About NETSTARS https://www.netstars.co.jp
NETSTARS CO., LTD. has been developing its gateway business since its establishment in 2009, and was the first to introduce the QR code payment service “WeChatPay” to Japan as an agency in 2015. Since then, it has developed StarPay, a multi-cashless payment solution that enables stores to introduce and manage all types of cashless payment services at once, focusing on domestic and international QR code payment services. Currently, based on StarPay’s technological capabilities, we are working on the development of multifaceted services such as support stores for their digital formation.
About Mitsubishi UFJ NICOS Corporation https://www.cr.mufg.jp/
As a core subsidiary of Mitsubishi UFJ Financial Group, Mitsubishi UFJ NICOS is responsible for providing cashless payment services and infrastructure. Specifically, Mitsubishi UFJ NICOS issues credit cards for individuals and corporations, including the Mitsubishi UFJ Card, installs payment systems for member stores, and is entrusted with issuing cards for financial institutions. With a wide range of partnerships and business know-how cultivated over many years, we provide a variety of settlement services to help realize a comfortable, safe, and secure cashless society.
About Mastercard (NYSE: MA) www.mastercard.com
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.