Virgin Experience Days will use W2’s award winning global eKYC solution integrated via API and with use of the W2 portal to onboard customers for their leisure vouchers to end clients. This partnership will support Virgin Experience Days as their customer base and popularity of pre-paid leisure vouchers continues on an upwards trajectory.
As the pre-paid market continues to grow, now more than ever it is vitally important for Virgin Experience Days that they have rigid compliance procedures in place to understand the customers they are onboarding. As they are issuing credit through the leisure vouchers, Virgin Experience Days have a regulatory requirement for Identity Verification and AML to ensure they know who their customers are.
W2’s CEO Warren Russell said about the partnership “This has been one of the most exciting projects we have worked on recently, we are delighted to be partnering with Virgin Experience Days. Initially they will be using W2’s Global eKYC service, but there is definitely room to add new services and strengthen the partnership in the future. Commerce is not typically a market well versed in what W2 does, so it is a testament to Virgin Experience Days that they understand the ever-growing need to screen the customers they are onboarding.”
“We are really pleased to be partnering with W2” commented Jessica Hankers, Head of Sales at Virgin Experience Days. “In an area that is not our expertise, we value the work that W2 will do to ensure the security of our customers and compliance to our business.”
The mainstream adoption of pre-paid leisure vouchers has been accelerated by the COVID-19 pandemic, reporting “Year on year sales of online gift cards and e-vouchers soared by 117% during the second half of 2020” (KPMG). A rise in popularity almost certainly means a rise in regulation, Virgin Experience Days are not only ensuring they comply with current regulation but are future proofing their compliance with W2.
About Virgin Experience Days Launched in 1988, Virgin Experience Days is the market leader in gift experiences. In line with the Virgin spirit of quality and innovation, Virgin Experience Days offers consumers unique, personal and exciting gift options. With a wide range of experiences from classics like track days, flying lessons and spas, to new trends such as learning new arts and crafts skills, Virgin Experience Days retails all the latest and greatest experiences in one place at www.virginexperiencedays.co.uk
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- W2 Announces Partnership with Virgin Experience Days for Streamlined Compliance - 25th May 2021
- What Is Know Your Customer KYC? (2021) - 26th August 2020
- W2: Back To Basics. Who Are W2? - 18th August 2020