Conferma, the expert providers of Virtual Card Number (VCN) technology for the corporate travel sector, has signed a global contract with Abacus that will give corporate travel management companies and corporate travel agencies in Asia Pacific access to a secure virtual payment solution, starting from the end of this year.
Integrated within Abacus WorkSpace, VCNs will improve agents’ control, data, and process efficiency across the full spectrum of corporate travel, from hotel reservations to air and rail tickets, car rentals, and more.
Automated reconciliation of booking and transaction data will also deliver enhanced process efficiencies, whilst offering Abacus agents a more granular view of their clients’ corporate spend.
“Beyond the productivity gains, however, this initiative with Conferma is about security and control,” said Robert Bailey, president and CEO of Abacus.
By generating a unique VCN for every travel booking, the new Abacus VirtualPayment solution will provide a more secure alternative to physical corporate or lodge cards, while dynamic credit limits, charge validity dates and merchant category restrictions further strengthen corporate governance.
Abacus VirtualPayment integration is seamless, enabling all clients to retain their preferred banking partner relationships or choose others from within the Conferma global banking network.
Abacus and Conferma are showcasing the VCN solution to 500 delegates representing Asia Pacific’s leading travel brands at the ground-breaking Abacus International Conference in Abu Dhabi from October 14 to 17.