UATP and Conferma Pay today announced a partnership to bring virtual card payment technology to airlines and agencies. This joint solution makes airline payments more secure and offers superior reconciliation benefits.
With virtual payment, a unique, one-time card number is generated for each booking with all of the transactions reconciled back to the central account. The spending controls allow you to proactively manage purchasing, ensuring the payment is only made through authorized channels for specific amounts. This ensures there’s no ambiguity about approved spending, reducing the cost for all parties involved in the transaction process.
Virtual payment technology links the one-time card number with enhanced data throughout the airline ticketing lifecycle. This brings efficiencies and control by eliminating the need for manual reconciliation of booking and payment data. The process is automatic, saving hours of back office file-checking, eliminating billing issues, making internal tracking and spend reporting much easier for organizations.
UATP’s customers now have the option to utilize virtual payments through a global corporate travel ecosystem. The solution powered by Conferma Pay is integrated directly at the point of sale into all major global distribution systems, over 100 booking tools and 500 travel management companies.
“We look forward to working with Conferma Pay to provide our Network members with a more secure, cost effective way to manage their payments when booking travel,” said Dave Holmes, Chief Commercial Officer. “Virtual payments have become increasingly popular in the travel industry which makes it important to provide these types of solutions for our members. Airlines will benefit from the fact that UATP virtual cards are typically less expensive to accept as payment.”
“Conferma Pay is delighted to be partnering with UATP, the premier airline payments provider,” said Paul Raymond, Director of Strategic Relationships. “Our partnership will deliver a world class integrated payment solution, utilizing the global reach of UATP combined with the innovative technology of the Conferma Pay platform.”
Virtual payments are setting a new standard for a more secure, fraud-proof method of booking and reconciling air spend for corporations. Their adoption in North America and Europe has been overwhelming with emerging markets representing a huge growth area in the near future.
To view the press release, click here.
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.