Payments provider Corporate Spending Innovations (CSI) has partnered with Conferma Pay to increase its payments offering.
The partnership allows CSI’s customers to pay for travel using its virtual payment offering in areas that accept Conferma Pay.
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Simon Barker, CEO of Conferma Pay, said: “We are delighted to sign and welcome CSI into our network of payment providers. The partnership will deliver a first-class integrated payment solution, combining CSI’s global reach in accounts payable with Conferma Pay’s unmatched ecosystem of travel points of sale. Teaming up makes it much easier for businesses to use virtual cards across all areas of spend.”
This agreement forms part of a wider trend as businesses increasingly seek virtual payment solutions from a single, preferred partner.
CSI’s customers can now work with their partner of choice for virtual payments across accounts payable and travel spend.
Efficiency, security and control
The announcement comes as virtual card payments are increasingly popular for businesses to pay for goods and services.
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By GlobalDataJuliann Pless, SVP of travel solutions at CSI, said: “The goal of our partnership is to bring efficiency, security and control to the payment process for both the traveller and their organisations.
“We are excited to leverage the breadth and depth of Conferma Pay’s partner base. This combined with our client-focused support and proprietary technology to help clients streamline and automate their corporate travel payment processes.”
The virtual payment service for travel spend completes CSI’s existing virtual payment offering for account payable.
Through the service, CSI aims to replace legacy methods and help businesses gain greater visibility and control over spend.
Furthermore, CSI is a subsidiary of intermediation platform Edenred which connects around 50m employees to 2m partner merchants.
The group also managed 2.5bn specific purpose payment transactions in 2018, primarily carried out via mobile apps and online platforms and cards, representing nearly €30bn in business volume.
