In a recent study revealing the true cost of expense management for USA businesses,
Conferma has revealed that 90% of Chief Financial Officers admit that it is difficult to reconcile corporate card payments on traditional plastic cards made by multiple members of staff. Unlike legacy payment solutions, with virtual payment every transaction has its own unique identifier, with a specific amount, user and merchant. This not only significantly reduces the risk of misuse or fraud, but also removes time-consuming manual reconciliation processes.
As focus of their joint activities, the partners are rolling out the virtual payment solution “AirPlus A.I.D.A. Virtual Cards” for the business travel market in the USA. The solution builds on AirPlus` eight-year successful partnership with Conferma across EMEA and APAC, delivering a seamless corporate payment experience while adding essential spend controls.
Crucially, AirPlus will leverage Conferma’s existing wealth of integrations in the US business travel space including all major GDS and OBTs, making it a breeze for travel management companies and their clients to manage virtual payments. AirPlus` clients will enjoy the flexibility of using their preferred booking tools, whilst gaining the advantage of enforcing their travel policies and controlling travel spend. This is great news for multinational corporations who will be able to utilize a global travel payment solution, which is consistent no matter where they are located.
Nick Reid, Commercial Manager at Conferma, said: “As fellow experts in corporate travel payments, we are excited to expand our collaboration with AirPlus to the US market, where virtual payment adoption has been growing at pace in recent years. Although awareness of the benefits of virtual cards is rapidly increasing, the hidden costs and lack of transparency associated with non-corporate payment methods still used by many mean that virtual cards have only started to scratch the surface of the overall market opportunity.”
“Our research has shown that travel managers find virtual card’s top benefits to be: ease of use, security and controls per card number. With our Conferma partnership, we enable automated virtual card number generation through most GDS’s, OBT’s and many TMC’s. This exemplifies the ease of use for A.I.D.A. Virtual Cards. When coupled with our security features on our proprietary processing network, we have built a virtual card offering that is second to none,” explains Rebecca Kilby, President & CEO of AirPlus International Inc.
Conferma Pay is a global financial technology company. We design and integrate virtual payment systems that provides a more efficient, seamless and secure way to pay for for businesses.
Conferma Pay was born in Manchester in 2005. Since then we have connected over 700 TMCs, and directly integrate with all the major GDSs and OBTs. Our roots lie in corporate travel payment integration.
We enable our payment providers to flow virtual cards into the preferred purchasing process of any business travel buyer. Crucial to this is our network of banking partners, who have issued virtual cards in over 200 countries, in 40 currencies with over 45 commercial banking partners via all major card networks.
Our ecosystem continues to expand to meet the growing requirements of our global customer base.
Conferma Pay and Boost Payment Solutions have committed to developing a “best-in-class” virtual payment solution in an extension of their partnership. The partnership seeks to
Dame Nancy Jane Rothwell, President of the University of Manchester The Salford centre, which opened its doors this autumn, provides after-school academic support, mentoring and
Lalor brings more than 20 years of leadership experience in commercial operations, strategy development and partner engagement at some of the world’s most well-known and
