The Standard Online Tourism Architecture network, an e-tourism platform used by more than 16,000 travel operators in Malaysia, has reached an agreement with U.S.-based eBay’s Inc.’s PayPal online-payments service to enable member travel agents to make or receive cross-border payments online, according to a statement from Creative Advances Technology Sdn. Bhd., the network’s creator.
“The new system will help the Malaysian travel agents to receive online payments from customers anywhere in 24 different currencies,” a Creative Advances official tells PaymentsSource, noting PayPal does not require member agents to pay any set-up or monthly fees. However, to get on the network, travel agents must pay a one-time fee of US$100 (319 ringgits or 75 euros), he adds.
Registered agents will also pay the network an undisclosed platform fee. They also pay reduced PayPal transaction rate for all cross-border transactions of 2% of the sale plus 30 U.S. cents, which is less than the typical domestic rate of 3.9% plus 30 U.S. cents, according to the official.
PayPal has more 81 million active accounts in 190 markets, according to the company. Creative Advances Technology Sdn. Bhd. launched the Standard Online Tourism Architecture network in August.