The standards aim to reduce fraud through additional, mandated authentication measures for all electronic cardholder-not-present payments. Objectors say strong customer authentication, as it’s known, would make standard corporate travel booking and payment processes, from lodge cards and virtual cards to travel management companies booking on behalf of customers, much more difficult at best. At worst, they’d make those processes impossible. Opponents also argue SCA is unnecessary because fraud levels are far lower in commercial payments. “The fundamental point for me is that we aren’t [just] trying to deal with fraud [but that] we absolutely are dealing with it,” said Citi head of commercial cards EMEA Steve Robson. “This has come as a sledgehammer blow as a result of not understanding the industry.”
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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.