Troovo targets virtually free virtual payment

6 February 2018

Australian based Troovo Technologies launch of its fully cloud-based robotic payments solution has the potential to reduce payment processing by up to 90 % of current costs of B2B transactions.

Troovo, born out of the travel industry, saw a huge opportunity to streamline backroom processing in the highly transactional travel industry using virtual processing of travel and B2B payment transactions.

Troovo CEO Kurt Knackstedt said: “We started with the travel industry because we knew how frustrating and inefficient it is for travel operators to process transactions as well as payments. Given our expertise in this space, Troovo’s strategy all along has been to demonstrate that virtual processing of travel and B2B payment transactions is the best way to eliminate wasted effort in transaction processing and help revolutionise the global travel industry.

Leveraging Troovo’s expertise with Robotic Process Automation (RPA), it was a natural progression to leverage our technology to enhance the payments process because the travel industry is biggest user of B2B credit card payments. Our approach provides an ultra-low cost, agnostic and completely seamless way to utilise virtual credit cards and next-generation payment platforms and we are now bringing our technology to the global market.”

Troovo’s proven technology offers travel agencies, corporate travel management companies, online travel sites, procurement and purchasing platforms and B2B payment systems a completely flexible, scalable and future-proof solution to high-volume transaction processing.

Mr. Knackstedt said: “The global travel industry has for too long depended on clunky, manual systems or out-dated and hard-to-code scripts and routines to process travel bookings. With Troovo’s API and powerful and modular robotic process automation engine, travel companies globally can now virtualise their transaction processing with no impact to their operations as well as leverage a technology platform that’s already equipped to handle next-generation technologies such as blockchain or IATA’s New Distribution Capabilities (NDC).”

“Troovo’s patent (pending) virtual payments module provides the world’s only completely agnostic and virtualised processor of any type of B2B payment transaction. Troovo’s revolutionary approach totally eliminates manual touch-points or integration requirements for travel companies or procurement groups wishing to leverage next-generation payment technologies such as virtual cards, virtual accounts, peer-to-peer payment schemes or crypto-currencies.

“Troovo’s unique technology design offers total payment flexibility and capabilities at an absolute fraction of the cost of other payment processing options in the market”.

Troovo will be live demonstrating their Travel and Payments solutions at Travel Technology Europe, stand TT46, exhibiting alongside the Business Travel Show, 21-22 February at Olympia, London.