The publish Sabre, Conferma Pay and Mastercard partner for virtual cards for travel payments appeared first on TD (Travel Daily Media) Travel Daily.
Sabre Corporation and Conferma Pay introduced a brand new partnership with Mastercard to speed up using virtual cards for business-to-business (B2B) travel payments. The announcement builds on Sabre’s August 2022 acquisition of Conferma Pay. The collaboration with Mastercard is the following step in advancing Sabre’s objective to create an open and unbiased travel cost ecosystem.
Digitization of travel payments with virtual cards helps handle the historic challenges related to B2B leisure and company travel payments. The securely generated, single use card numbers present a hyperlink between reserving and related payments to 3rd occasion suppliers. Travel patrons and suppliers are subsequently in a position to simply monitor and reconcile payments, in addition to profit from versatile pricing, financing choices, and enhanced safety by way of card cost ensures.
“The payments industry is in the midst of a revolution and there is an increased need for travel companies to better manage the whole payment experience,” mentioned Roshan Mendis, Executive Vice President and Chief Commercial Officer, Sabre Travel Solutions. “Companies in the travel space – including travel management companies, travel agencies, corporations, issuers and technology partners – need sophisticated solutions and seamless connections. Sabre is taking strategic steps to fulfill the needs of our industry, beginning with the acquisition of Conferma Pay. Now, the new partnership with Mastercard will help Conferma Pay to build new and enhanced digital capabilities in virtual cards, transforming the payment experience for issuers.”
As a part of the settlement, Mastercard has agreed to make a minority funding in Conferma Pay, which is able to proceed to function independently and serve your complete travel business and past. Mastercard’s funding in Conferma Pay is topic to customary closing circumstances.
“A combination of experience, technologies and capabilities will accelerate travel payment innovation and drive inclusive and sustainable growth for the sector,” mentioned Chris Fendley, Executive Vice President, Enterprise Partnerships at Mastercard. “Virtual cards deliver visibility, boost liquidity and increase control over B2B payment flows, which enhance payment strategies and empower organizations across the travel value chain to run, grow and protect their business, which has never been more essential.”
Conferma Pay connects issuers to greater than 700 travel administration firms, all the key world distribution methods and greater than 100 on-line reserving instruments. Conferma Pay is absolutely built-in with all the key card schemes and serves greater than 50 banking companions, who subject Conferma Pay generated virtual cards in almost 100 currencies.
“We’ve already made significant inroads in the B2B travel space through partnering with Sabre,” mentioned Martin Cowley, interim CEO at Conferma Pay. “We are excited about the new investments. This, combined with our existing strong relationships, will enable Conferma Pay to build on our global footprint and be at the forefront of addressing industry challenges and opportunities.”
Sabre’s Virtual Payments will proceed to supply Conferma Pay providers – with elevated capabilities that assist travel patrons, businesses and companies greatest assist travel buyer wants. Sabre Virtual Payments is a novel, safe, automated and built-in end-to-end cost answer designed to simplify and add worth to the transactions that TMCs, OTAs, travel businesses, companies and travel suppliers do every single day. Sabre Virtual Payments takes all of the capabilities of Conferma Pay and its community of issuers and combines it with seamless integration throughout Sabre merchandise for -connected travel patrons, businesses and companies.
The publish Sabre, Conferma Pay and Mastercard partner for virtual cards for travel payments appeared first on Travel Daily.