The collaboration will give corporate travel management companies and corporate travel agencies throughout the region access to a secure virtual payment solution, starting from the end of this year.
Conferma, the expert providers of Virtual Card Number (VCN) technology for the corporate travel sector, has signed a global contract with Abacus, the leading Global Distribution System in Asia Pacific. The collaboration will give corporate travel management companies and corporate travel agencies throughout the region access to a secure virtual payment solution, starting from the end of this year.
Integrated within Abacus WorkSpace, VCNs will improve agents’ control, data and process efficiency across the full spectrum of corporate travel, from hotel reservations to air and rail tickets, car rentals and more. Automated reconciliation of booking and transaction data will also deliver enhanced process efficiencies, whilst offering Abacus agents a more granular view of their clients’ corporate spend.
“The scale and diversity of bookings managed by Abacus agents make the process efficiencies in VCN technology very significant,” explained Robert Bailey, President and CEO of Abacus. “Beyond the productivity gains, however, this initiative with Conferma is about security and control.”
By generating a unique VCN for every travel booking, the new Abacus VirtualPayment solution will provide a more secure alternative to physical corporate or lodge cards, while dynamic credit limits, charge validity dates and merchant category restrictions further strengthen corporate governance.
Commenting on the launch, Simon Barker, CEO of Conferma, added, “Working with Abacus, we can transform the corporate travel sector’s expense management capabilities in Asia Pacific, removing time-consuming and costly manual processes. We are delighted to be extending our VCN technology into this region, building on Conferma’s turnkey payment solutions in Europe and the Americas.”
Abacus VirtualPayment integration is seamless, enabling all clients to retain their preferred banking partner relationships or choose others from within the Conferma global banking network.
Abacus and Conferma showcased the VCN solution to 500 delegates representing Asia Pacific’s leading travel brands at the ground-breaking Abacus International Conference #AICONF14 in Abu Dhabi from 14 – 17 October, 2014.
Photo caption: At #AICONF14 to support the launch of Abacus Marketing VirtualPayment, giving TMCs more control, data and efficiency
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
