Virtual credit card automates travel policy enforcement and expense reconciliation for a more efficient, secure and compliant solution
SOUTHLAKE, Texas – March 17, 2015 – Sabre Corporation (NASDAQ: SABR) today announced the integration of Sabre Virtual Payments, an industry-leading payment and settlement integration tool, into GetThere, its corporate online booking system. The integration of virtual payments at the point of sale will help travel management companies and corporate travel departments improve efficiency, compliance and security.
The automated solution assigns a single-use, unique virtual credit card number to an individual hotel reservation. Travel policies are preset at the employee or contractor level and attached to the booking, so the Virtual Card Number (VCN) can only be used to pay for predetermined expenditures and with preset spending limits. Upon completion of a traveler’s trip, automated matching of the booking to payment eliminates the need for manual reconciliation and settlement of hotel travel expenses. Airfare expense reconciliation and settlement capabilities will be added in the coming months.
“Integrating Sabre’s Virtual Payments with GetThere improves accuracy, efficiency and compliance by enforcing travel policy spending limits and automating expense reconciliation,” said Yannis Karmis, vice president, Sabre Corporate Solutions. “Additionally, fraud exposure is reduced as virtual card numbers can be configured to contain value and validity controls specific to each travel segment.”
GetThere is one of the leading booking systems in North America. It is currently used by nearly half of the top 100 largest corporate travel buyers, and processes more than 12 million transactions annually.
About Sabre Corporation
Sabre Corporation is a leading technology provider to the global travel and tourism industry. Sabre’s software, data, mobile and distribution solutions are used by hundreds of airlines and thousands of hotel properties to manage critical operations, including passenger and guest reservations, revenue management, flight, network and crew management. Sabre also operates a leading global travel marketplace, which processes more than $110 billion of estimated travel spend annually by connecting travel buyers and suppliers. Headquartered in Southlake, Texas, USA, Sabre operates offices in approximately 60 countries around the world.