Using the card, travel buyers and suppliers will be able to track and settle payments. Credit: Christiann Koepke on Unsplash.

US-based travel technology firm Sabre and fintech company Conferma Pay have forged an alliance with payments giant Mastercard to facilitate business-to-business (B2B) travel payments with virtual cards.

As part of the collaboration, the companies will offer single use card numbers to help link booking and related payments to third party suppliers.

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Using the card, travel buyers and suppliers will be able to track and settle payments.

They will also be able to avail ‘flexible’ pricing, financing options as well as improved safety through assurances offered by card payment.

In addition, Mastercard is set to make a minority investment in Conferma Pay, which was bought by Sabre in August this year, under the new partnership.

Following the investment, which is subject to customary closing conditions, Conferma Pay will continue to run independently.

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Conferma Pay currently helps issuers connect to over 700 travel management firms along with global distribution networks and over 100 online booking solutions.

The firm, which is fully integrated with leading card schemes, also caters to over 50 banking partners that issue Conferma Pay virtual cards in around 100 currencies.

Sabre Travel Solutions executive VP and chief commercial officer Roshan Mendis said: “The payments industry is in the midst of a revolution and there is an increased need for travel companies to better manage the whole payment experience.

“Companies in the travel space – including travel management companies, travel agencies, corporations, issuers and technology partners – need sophisticated solutions and seamless connections.

“Sabre is taking strategic steps to fulfil the needs of our industry, beginning with the acquisition of Conferma Pay. Now, the new partnership with Mastercard will help Conferma Pay to build new and enhanced digital capabilities in virtual cards, transforming the payment experience for issuers.”