Virtual Card Number (VCN) technology specialist Conferma has signed an agreement with Visa to make the Visa Virtual Travel Card Service available to Visa issuers and their commercial card clients across the globe.
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The new deal expands the relationship announced between the two entities in 2013 that offers a VCN product for Visa issuers in Europe.
The virtual travel card service can be accessed by Travel Management Companies (TMCs) or corporations whose TMC is a participant in the Conferma network.
The product will be completely integrated with the TMC’s or the corporate client’s chosen booking platform, whether a Global Distribution System (GDS) or an Online Booking Tool.
The new service, though accessible to all travel spend categories, is specially designed for infrequent travellers including contract workers, interns and new recruits to whom corporations would not issue physical plastic for travel expenses.
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By GlobalDataIssuance of a unique VCN for each travel booking will help corporations and their TMC automatically reconcile booking and transactional data, phase out manual processes to reap cost and time benefits.
In addition, booking data captured at point of sale will enable corporations and their TMCs to track, and manage their travel spend more efficiently.
Conferma CEO Simon Barker said: "We are thrilled to announce our partnership with Visa Inc., enabling more Visa issuers to capture travel spend on commercial cards and providing our TMC base with yet more payment options.
"VCNs are widely acknowledged as one of the fastest-growing commercial card products and this agreement enables Visa issuers worldwide to offer a VCN solution fully integrated with Conferma’s network of corporate travel bookings."
