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Travel-payments specialist CellPoint Digital is launching a platform to tie into a new retailing model quickly being adopted by the travel industry. In related news, Navan Inc., an expense-management platform, is readying for a public stock offering.
London-based CellPoint Digital says its new One Source Orchestration platform is tailored to the airline and travel industry’s transition to the offer-order-settle-deliver retailing model. The four elements are offer, where an airline generates available flights and fares; order, when the passenger books a flight; settlement, the payment step where funds are settled; and delivery, when the passenger actually travels. The expectation is this model will enable more personalized travel experiences while boosting operating efficiency over earlier models.
CellPoint Digital says its One Source Orchestration platform is built exclusively for the transition to the OOSD model of retailing. The platform can be configured as each client needs it to fit their OOSD model, CellPoint Digital says. It says payments orchestration could improve the payment flow-through from 2% to 13% depending on complexity and scope.
One of the primary benefits of the new platform is its modular architecture that can be adapted as needed. “OSO was built from the ground up to support convenient, localized payment experiences for travelers, and to drive profitability, efficiency, and revenue for the merchants who serve them,” Kristian Gjerding, CellPoint Digital chief executive, says in a statement.
The new platform also can help clients address failed or declined transactions by using artificial intelligence and machine learning to continually optimize transaction routing, which can help improve approval rates.
In related news, Palo Alto, Calif.-based Navan filed its Form S-1 documents with the U.S. Securities and Exchange Commission, a move that usually precedes an initial public offering. Navan is a corporate travel-management platform. It is expected to trade on the Nasdaq Global Select Market under the NAVN symbol.
In the S-1, Navan says the investment from the public market will help fund its efforts to add new customers, increase adoption among its existing customer base, and afford it the opportunity to invest in its platform.
