Sabre Corporation and Conferma Pay announced a new partnership with Mastercard to enhance the use of virtual cards for business-to-business (B2B) travel payments. This collaboration is the next step in advancing Sabre’s goal to create an open and independent travel payment ecosystem.
As a leading technology provider, Sabre Corporation strengthens the global travel industry, serving many companies, including airlines, hoteliers, and travel agencies. Providing retailing, distribution, and fulfilment solutions, Sabre connects buyers with travel suppliers.
The digitization of travel payments has helped to address the historical issues with B2B leisure and travel. Single-use card numbers link booking and associated costs to third-party suppliers.
“The payments industry is in the midst of a revolution, and there is an increased need for travel companies to better manager the whole payment experience,” explained Roshan Mendis, Executive Vice President and Chief Commercial Officer of Sabre Travel Solutions. “Companies in the travel space – including travel management companies, travel agencies, corporations, issuers, and technology partners – need sophisticated solutions and seamless connections.”
Sabre has taken strategic steps to meet the demands of the industry, which began with the addition of Conferma Pay. with Mastercard’s new partnership, Conferma Pay can build new digital capabilities in virtual cards, improving the payment experience for customers.
Within the agreement, Mastercard agreed to make a minority investment in Conferma Pay, subject to the customary closing conditions.
Chris Fendley, Executive Vice President, Enterprise Partnerships at Mastercard, stated that the combination of experience, technology, and capability accelerates travel payment innovations.
“Virtual cards deliver visibility, boost, liquidity, and increase control over B2B payment flows, which enhance payment strategies and empower organizations across the travel value chain to run, grow, and protect their business, which has never been more essential.”
Conferma Pay is fully integrated with all the major card schemes, serving over 50 banking partners and connecting issuers to more than 700 travel management companies. Sabre’s Virtual Payments will continue to offer Conferma Pay services alongside increased capabilities, helping travel buyers, agencies, and corporations. As a secure, automated, and integrated end-to-end payment solution, Sabre Virtual Payments simplifies transactions and enhances customers’ experiences.
“We’ve already made significant inroads in the B2B travel space through partnering with Sabre,” said Martin Cowley, interim CEO at Conferma Pay. “We are excited about the new investments. This, combined with our existing strong relationships, will enable Conferma Pay to build on our global footprint and be at the forefront of addressing industry challenges and opportunities.”
