Business travel is a sizeable market in its own right, worth an estimated US$1.4tn annually and supporting an estimated one-in-seven jobs worldwide.1 But it also has
Today, businesses struggle to onboard new suppliers quickly and do not have the tools to control payments made by colleagues working from home. The new integration of Conferma Pay with Concur® Invoice helps to solve these challenges by allowing businesses to pay suppliers using virtual cards, rather than legacy checks or bank transfers.
When a business receives an invoice from a supplier, there’s no need to follow a cumbersome payment approval process. Instead, a virtual card is generated against that invoice for a specific amount within Concur Invoice, and pre-authorised payment details are securely provided to the supplier for processing. The virtual payment is automatically reconciled against the invoice, reducing manual work for finance teams.
About Conferma Pay
Conferma Pay, is the world’s foremost provider of virtual payments technology. Founded in 2005, Conferma Pay combines innovation and expertise to push the boundaries of what can be achieved in the world of virtualized business payments.
In the travel space, Conferma Pay connects issuers to more than 700 travel management companies, all three the major global distribution systems and more than 100 online booking tools. Conferma Pay is fully integrated with all the major card schemes and serves 50 banking partners, who have issued Conferma Pay-generated virtual cards in 96 currencies.