Mastercard, Worldpay by FIS and Travel Tax are paving the way for instant tax refunds for customers

Mastercard, FIS’s Worldpay and Spanish fintech company Travel Tax Free have announced a collaboration agreement to introduce Mastercard Send to the Tax Free management service.

This innovative solution, enabled by Worldpay, a merchant solution, pallows tourists visiting Spain and Portugal to opt for an instant tax refund when using Travel Tax Free’s Traveler Wallet. a product to optimize Tax Free management and refunds.

As consumers increasingly look for faster and more convenient payment methods, this initiative meets their demands for fast and seamless transactions, both in-store and when receiving refunds. For retailers, it provides an opportunity to serve customers who prefer digital payment options and devices, ultimately improving the shopping experience.

Available to tourists in Spain and Portugal

The partnership between Mastercard, Worldpay and Travel Tax Free aims not only to provide tourists with an improved customer experience, but also to equip retailers with the necessary tools to optimize their operations and boost sales. Initially, this service will be available to tourists in Spain and Portugal.

Martin Reina, CFO of Travel Tax Freeexpressed his excitement about the launch of this service and stated: “Any added value for tourists directly benefits businesses, as Tax Free serves as a catalyst to increase sales through shopping tourism.” By leveraging digital channels and instant payments, we offer tourists and customers a seamless experience, ensuring they have their money at all times and can receive it anywhere without having to endure long queues or waiting times at airport kiosks.”

“At a time when adoption of digital payments is increasing exponentially, we are committed to helping consumers and businesses improve their ability to pay and receive money quickly, securely, and anywhere. Mastercard Send gives merchants and their customers the speed and variety of options they need, enabling merchants to grow their business by enabling near real-time payments to consumers who receive the tax-free refund quickly and easily. “By collaborating with Worldpay from FIS, we can support the tourism sector, an important goal of our company.”emphasized Paloma Real, General Manager of Mastercard Spain.

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Rodrigo Vilariño, Country Manager of Worldpay of the FIS, added: “We are pleased to meet travelers’ demand for faster and more convenient payment methods with this innovative solution. “Fast payments can be used as a differentiation strategy for merchants not just in travel, but across a variety of industries.”.

This partnership represents a significant step towards more efficient and customer-centric tax refund processes for tourists and retailers. As the world of digital payments continues to evolve, Mastercard and Travel Tax Free ensure travelers can access their tax refunds with unprecedented speed and ease.

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