UK virtual corporate card provider Conferma Pay and US travel tech company Sabre have partnered with Mastercard to issue virtual cards for B2B travel payments.
The solution involves generating single use card numbers to enable travel buyers and suppliers to track and reconcile payments, as well as benefit from other card payment benefits.
As part of the agreement, Mastercard will make a minority investment in Conferma Pay, which will continue to operate independently. The company was acquired by Sabre in August 2022.
Founded in 2005, Conferma Pay is fully integrated with all the major card schemes and serves more than 50 banking partners, who issue Conferma Pay generated virtual cards in nearly 100 currencies.
“The new partnership with Mastercard will help Conferma Pay build new and enhanced digital capabilities in virtual cards, transforming the payment experience for issuers,”
said Roshan Mendis, Executive Vice President and Chief Commercial Officer at Sabre Travel Solutions.
“Virtual cards deliver visibility, boost liquidity and increase control over B2B payment flows, which enhance payment strategies and empower organisations across the travel value chain to run, grow and protect their business,”
said Chris Fendley, Executive Vice President, Enterprise Partnerships at Mastercard.
