Livn makes wholesale payments faster

Livn makes wholesale payments faster

Aggregator and distributor of tours and activities Livn will slash industry-standard payment times when it launches a new virtual credit card payment system next month.

On 1 May it will become the first major wholesaler to pay suppliers after a tour has been booked rather than up to 30 days after the date of travel, the current industry standard – a process that can often take months.

Livn CEO Sean Cummins said this would mean suppliers will get paid much faster, dramatically improving their cash flow.

Cummins added under the new system Livn will be able to pay suppliers within days of receiving a paid booking from its travel agent partners.

“No other company has offered these terms in the tours and activities space before and we’re very excited about this initiative,” Cummins said.

Existing clients will transition to the virtual credit card payment system over the next 12 months, while all new customers will go straight onto the new system.

Livin’s state-of-the-art tech platform distributes more than 12,500 instantly bookable tours and activities – including multi-day trips – from suppliers such as Intrepid Group, G Adventures, Grayline, Pro-Dive and Tourism Holdings Limited.

Its retail partners include Flight Centre, Student Flights and Red Balloon.

Cummins concluded further growth is in store with more partnerships to be announced over the coming months.

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