Conferma Pay launches Carbon Reporting
Against this backdrop, payments leader Conferma Pay is seeking to leverage the technological innovations of virtual cards to launch an industry-first capability. Dubbed ‘Conferma Carbon
May 26, 2022
As the founder of a virtual card technology company, Conferma’s Barker, unsurprisingly, disagrees that blockchain will replace the card-based payments infrastructure. He focuses on a paradox of blockchains, which is that they are totally transparent to participants within the process but impenetrable through encryption to those excluded from them.
“Payments are centrally controlled by governments to ensure there is no money laundering and people pay taxes,” Barker says. “They won’t want to let those controls go. Virtual card numbers, which are built on card rails, are a good long-term bet.
“The key to payments is global acceptance, which the card rails have spent the last 40 to 50 years establishing. Blockchain could be used to send ledgers bank-to-bank, but virtual cards won’t be replaced by cryptocurrencies.”
About Conferma Pay
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.
Travel Meets Payment
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.
