NETSTARS, with Agoda, Hotel Management Japan, Worldpay and Mastercard, Introduces VCN Payment for Business-to-Business Transactions, Enhancing Convenience and Security of Hotel Reservation Payments
October 16, 2023
NETSTARS, with Agoda, Hotel Management Japan, Worldpay and Mastercard, Introduces VCN Payment for Business-to-Business Transactions,
Enhancing Convenience and Security of Hotel Reservation Payments
NETSTARS Co., Ltd. (Headquarters: Chuo-ku, Tokyo; Representative Director and President: Tsuyoshi Ri; hereinafter, “NETSTARS”) together with Agoda, Hotel Management Japan Co., Ltd., Worldpay, and Mastercard, are pleased to announce the launch of a pilot Mastercard Virtual Card Number (VCN) corporate payment system for hotels in Japan, with the aim of significantly improving operational efficiency and strengthening risk management measures, at the Oriental Hotel Oriental Express, operated by Hotel Management Japan Co. Ltd.
Using NETSTARS’ straight-through processing, Agoda issues a VCN*1 based on guests’ reservation and checkout information and provides payment processing to hotels, allowing hotels to receive virtual card payments directly without manual intervention. This allows hotels to reduce human error and improve operational efficiency in the billing process, while also reducing the risk of non-payment, thereby contributing to increased productivity.
*1 VCN is a virtually-issued secondary card number with a corporate Mastercard credit card (purchasing card) as the primary card number. Within the credit limit of the primary number, VCNs can be issued for a single transaction, a set number of transactions, or a set period. Furthermore, restrictions or conditions of use, such as the maximum usable amount or usage period, can be set for a single VCN. VCN usage is billed as a lump sum to the account of the primary number’s cardholder.
Tsyuoshi Ri, CEO of NETSTARS, said, “NETSTARS is delighted to work with Agoda, Hotel Management Japan, Worldpay, and Mastercard on this new initiative, and we hope to be able to contribute to reducing the workload of hotel management for a large number of clients. NETSTARS will continue to promote DX initiatives in the business world through our payment services.”
The popularity of Mastercard’s VCN payment solution is expanding in the international travel industry in particular, due to the increase in the number of clients and the complexity of distribution channels associated with globalization. This solution is being introduced as a means of streamlining payments between travel agents (traditional and online), TMCs (travel management companies), and hotels seeking a more efficient way to settle payments. Currently, hotels in more than 200 countries around the world use the system daily.
NETSTARS will continue to coordinate with partner companies in our efforts to further develop business-to-business payments in future.
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About Agoda www.agoda.com
Agoda offers the best rates on more than 3.6 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 locations around the world, including its headquarters in Asia, and is committed to developing and delivering the most convenient travel booking service using the industry’s leading technology.
About Hotel Management Japan https://www.oriental-hotels.com/
Hotel Management Japan, Co., Ltd. is a hotel management company that operates 20 hotels in Japan (with a total of 6,220 rooms). The total number of employees in the group hotels is 2,501. In addition to its own brands, “Oriental Hotel” and “Hotel Oriental Express,” the company manages and operates a variety of hotels, including “Hilton,” “Sheraton,” and “Hotel Nikko”. (As of September 2023)
About Worldpay from FIS www.worldpay.com/ja-jp/index
Worldpay from FIS is a payment technology company with unique capabilities to activate global omni-commerce. With industry-leading scale and an integrated technology platform, Worldpay offers customers a comprehensive suite of products and services globally through a single connection. Worldpay handles over 40 billion transactions annually via more than 300 payment methods, in 146 countries, and in 126 currencies. Worldpay’s growth strategy is to expand global e-commerce, integrated payments, and B2B offerings into high-growth markets, industries, and customer segments.
About Mastercard (NYSE: MA) www.mastercard.com
Mastercard is a global technology company in the payments industry. Mastercard’s 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, Mastercard’s innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, Mastercard is building a sustainable world that unlocks priceless possibilities for all.
About NETSTARS www.netstars.co.jp
NETSTARS Co., Ltd. has been developing our gateway business since our establishment in 2009. We were the first agent to introduce the QR code payment service “WeChatPay” to Japan in 2015. Since then, we have developed StarPay, a multi-cashless payment solution that enables stores to introduce and manage various cashless payments simultaneously, focusing on domestic and international QR code payment services. Currently, building on the foundation of StarPay’s technological capabilities, we are working on the development of multifaceted services including support for store DX.