Conferma has integrated the MasterCard inControl service into its global travel payment network.
Through this integration, corporate and bank clients of the virtual card company will have links to travel management companies, global distribution systems, self-booking tools and online travel agencies at the point of sale.
MasterCard inControl users can produce a virtual card number to track individual travel bookings across all payment categories. Each travel booking is charged to the VCN by the travel supplier as part of an automated process that matches all travel expenses to the booking data.
The product also allows additional company-specific data to allocate charges to the appropriate cost centers when travel accommodations are made.
"This new agreement enables VCN technology to streamline the outdated and inefficient payment processes across the travel industry," said Simon Barker, chief executive officer of Conferma, in a Nov. 18 press release. "With cost reduction still the number one priority for travel managers, adopting VCNs provides businesses with a proven, rapid, low-risk, low-cost way to increase efficiency, cut costs and gain more control."
A year ago, Conferma reached a deal to provide its technology to all Visa Europe issuing banks and partners.