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
Neil Fyfe was most recently the Vice President of Global Accounts Technology at Sabre Corporation, the travel technology company, where he was responsible for pioneering the company’s successful move to offer virtual payments solutions to hotels, airlines and rail operators.
Virtual card technology first emerged in travel, where the ability to more accurately reconcile payments and to harness payment data for improved preferred supplier relationships has long been well understood. Now, businesses from a variety of sectors have seen the opportunity to shift general payables and business spend away from checks and bank transfers, to virtual cards.
Driven by the need to better control employee spend, particularly when individuals work outside the office, Fyfe will help businesses across North America harness the pre-authorization capabilities of virtual payments to regain control of B2B spend.
He is also responsible for building closer relationships with Conferma’s issuing bank partners and helping them to harness the capabilities of virtual payments to deliver improved payment solutions to their business customers. Here, Fyfe will drive the growth in banks using Conferma Pay’s innovative mobile app solution so a growing number of North American businesses can access mobile virtual payments directly from their preferred banking partners.
“It’s a challenging economic environment and every business needs to ask whether it’s getting the most value from how it makes B2B payments. The shift to virtual payments in travel helped control spend, negotiate better rates with suppliers and deliver an improved payment experience. There’s no reason these lessons can’t be applied more broadly in B2B.” said Neil Fyfe, Head of North America, Conferma Pay.
Simon Barker, CEO, Conferma Pay commented: “We’re fortunate to have someone as experienced as Neil leading our business in North America. He had the vision to move Sabre into virtual payments early, and he’s in a ideal position to bring lessons from the travel industry to a broader range of B2B sectors.”
Prior to his time with Sabre Corporation, Fyfe held a number of senior roles at American Express and Travelport.
Article published on Finextra
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.