B2B payments may finally see widescale innovation according to some market participants, with both Visa and Mastercard bolstering their business payments services this month. “We’ve
The new program allows corporations to use virtual payment solutions for travel spend, starting with hotel bookings and extending to airfare and ground transportation.
“The payment industry is moving quickly to a more efficient and highly secure virtual payment model with leaders like Conferma Pay, Apple Pay and Google Pay,” said John F. Rizzo, CEO and President, Deem. “Our new virtual payment program solves a host of challenges for corporations and travelers alike.”
Virtual payment gives corporations a central method to bill services, and a better way to audit and account for travel spend. This solution helps corporations mitigate security and fraud, especially in regions or countries with higher levels of fraudulent activity. Travelers also aren’t required to present a credit card at hotel check-in, mitigating their personal risk.
“We’re excited to launch our virtual payment program with Conferma Pay,” said Todd Kaiser, SVP, Business Development and Strategy, Deem. “They are the leader in the travel space and widely adopted by our global customers. Our travelers are going to love the convenience and reliability of this program as we roll it out across all of our booking surfaces and inventory types.”
The virtual payment program service is available for hotel content across all GDS with a direct integration to Conferma Pay via their API and is available for profiled and non-profiled users of the platform. The system also supports custom PNR remarks by leveraging Deem’s unique PNR Editor functionality. Functionality will be available to customers by the end of Q3.
“As innovators in the space, Conferma Pay and Deem understand the benefits new technology can provide for better customer experience,” said Paul Raymond, Director of Strategic Relationships at Conferma Pay. “Together, we believe we can achieve great success in the corporate travel sector.
“We want to support corporations by enabling them to cut costs through more efficient administrative processes. With Conferma Pay’s virtual payment technology, customers benefit from a holistic and detailed, automated reporting system accounting for every single transaction. This achieves greater efficiencies, tighter controls, heightened security and avoids laborious manual tasks to create a complete cost-effective solution.”
Conferma Pay is globally connected to more than 500 travel management companies, all five major global distribution systems and is fully integrated with all the major card schemes serving more than 36 banking partners.
Deem’s personalized and intuitive business travel management platform uses advanced technologies to provide optimized solutions for travelers, corporate travel managers and travel management companies. Deem’s platform, Work Fource, brings design, machine learning and customization together to provide the business travel ecosystem with a solution for managing travel costs at the beginning of the booking process, and integrating them seamlessly with the back-end expense reporting required by finance departments.
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.