Primer, the unified infrastructure for payments and commerce, has announced a new partnership with GetYourGuide. The partnership will see GetYourGuide, a global travel experience, leverage the Primer payments platform.
The partnership will give GetYourGuide another facet to its experience platform, already boosted by its $194 funding announcement to accelerate global expansion and drive product innovation. GetYourGuide will embed the primer payments functionality into its platform, including its universal checkout, payments workflow and Uplift AI, its latest product.
Uplift AI is an advanced, custom-built machine-learning model trained on millions of payments to predict the optimal processor for every payment — regardless of currency or market. It helps improve authorisation for different payment types, taking only 25 milliseconds to identify the optimal processor and ultimately increasing payment authorisation by 5% for merchants.
As the world returns to travel and the industry is expected to hit $375 billion by the end of 2024, according to GetYourGuide, those travellers are expecting a digital experience. However, with GetYourGuide already managing over 30 million transactions across 100,000+ experiences and 20,000 experience creators becomes a challenge. To overcome the payment challenge and bring consistency, efficiency and scalability to its platform, it has partnered with Primer.
Arjun Muralidharan, Director of Product, FinTech, at GetYourGuide, added, “We’re successfully connecting millions of travelers with unforgettable experiences, and now, with Primer’s payments infrastructure, we’re able to give travelers and experience creators an unparalleled and highly localized payment experience. GetYourGuide is focussed on continuous innovation and, by leveraging Primer’s unified payments infrastructure, we can drive experimentation, performance and optimization. We look forward to working with the team to further pioneer in the travel experiences industry.”
Enterprise Times: What does this mean
For Primer, this is a great announcement. Following the receipt of funding from Chinese giant Tencent, the deal is good news for the growing fintech company. The increase in revenue from the partner, once the integration is complete and GetYourGuide partners could be immense.
Gabriel Le Roux, CEO and Co-Founder of Primer, said, “With the demand of the travel experience market, it’s clear that businesses need to shift their priorities and recognize payments as a lever for growth. Alongside creating memorable moments, today’s travelers are seeking seamless and convenient payment processes, no matter where they are. That’s where our partnership will work its magic. We can’t wait to support GetYourGuide and take its payments to an entirely new level.”
The big question is how quickly Primer can prove itself. And whether it can attract interest from similar companies to GetYourGuide.
