Sabre Corporation and payment services partner Conferma have announced the North American launch of a pre-funded virtual payment solution for travel buyers, building upon the payment and settlement capabilities of Sabre Virtual Payments.
Sabre Virtual Payments automates the assignment of a unique virtual credit card number to each travel segment. By adding a pre-funded payment option, travel buyers now have the flexibility to fund their own cards and do not need to set up an additional line of credit with their bank.
The new pre-funded capability can also be applied to trips that are made by travelers in the GetThere corporate booking solution. Announced in March, the integration of Sabre Virtual Payments with GetThere will be featured along with the pre-fund option at the upcoming Sabre Connect 2015 customer summit being held June 2-4 in Las Vegas.
Sabre partnered with Conferma, an expert in VCN technology, to develop its virtual payment solution for corporate travel.
VCNs provide access to payment technology that reduces costs associated with reconciling travel and payment data, limits fraud exposure by thousands or millions of dollars when compared to ghost or lodge card solutions, and increases travel policy compliance by ensuring that only approved expenses are allowed, Sabre said.