Triply, Choice Microfinance Bank partner to boost banking access for travel businesses

Travel technology firm Triply has partnered with Choice Microfinance Bank in a move aimed at improving access to banking services and financial tools for travel businesses in Kenya and other emerging markets.

The partnership seeks to address long-standing financial challenges facing travel agencies and tour operators, many of whom handle high-value customer payments, supplier settlements, foreign exchange transactions and instalment collections but remain underserved by conventional banking institutions.

Under the agreement, travel businesses using Triply’s platform will gain access to banking products and payment infrastructure designed to support customer collections, payment reconciliation, supplier payments and other financial services tailored to the sector.

Triply Co-founder and Chief Executive Officer Peter Wachira said the collaboration is intended to strengthen financial access for businesses operating within the travel industry.

“Travel businesses have been overlooked for too long by traditional financial institutions, despite managing complex, high-value, and time-sensitive financial flows every day,” said Wachira.

“Our partnership with Choice Microfinance Bank strengthens our commitment to giving these businesses the infrastructure, banking access, and financial tools they need to operate with confidence, serve customers professionally, and compete globally.”

The companies say the partnership will also help travel agencies improve payment transparency and offer customers a more seamless booking experience.

Triply, which describes itself as a travel technology and financial infrastructure company, provides tools that help travel businesses manage enquiries, bookings, quotations, customer collections, instalment payments, supplier payouts, foreign exchange transactions and reconciliation from a single platform.

Choice Microfinance Bank, a licensed financial institution in Kenya, said the collaboration forms part of efforts to expand financial inclusion for businesses operating in the travel sector.

The partnership is also expected to support growth in the wider tourism ecosystem by enabling travel businesses to access more reliable financial services and payment systems.