Sabre Virtual Payments delivers a trusted payment environment to streamline and automate settlement of bookings for travel buyers. The solution supports transactions in local currency through a Spanish language user experience
MEXICO CITY – Nov. 19, 2015 – Sabre Corporation (NASDAQ: SABR), the leading technology provider to the global travel industry, together with virtual payment technology partner Conferma, today announced the launch of Sabre Virtual Payments for business travel, providing a touchless travel payment service built on one of the most secure payment card technologies available in Mexico.
The new technology has been developed by Sabre to support an increasingly complex process within corporate travel programs and expense reporting: solving the need to manually reconcile bookings against payment. Corporate travel buyers in Mexico will benefit from Sabre’s customized payment technology, following a successful rollout and implementation of the solution in the USA, UK, Australia, New Zealand and Brazil.
For agencies and corporations, Sabre Virtual Payments will increase productivity and fraud protection through a streamlined, automated solution that assigns a unique virtual pre-funded card number to each travel segment. In addition, its prefunded credit option allows corporations to control the exact amount of any travel purchase. Sabre’s software solution processes transactions in Mexican Pesos to avoid exchange fees that would otherwise increase the cost of travel. The capability is also available for corporate hotel bookings via Sabre’s GetThere online booking tool.
“The effective management of a corporate travel program is becoming increasingly complex and virtual payment services are a huge opportunity to deliver buyers an efficient workflow with automated processes and better data integration”, said Salim Arkuch, general director of Sabre in Mexico. “Sabre Virtual Payments is a form of payment that allows agencies, TMCs and corporations to deploy virtual prepaid card numbers, securely created at the time they shop and book for business trips.”
In addition to increasing travel policy compliance, improving reconciling processes, and providing robust reporting capabilities, travel management companies will benefit from better data integration and provide their corporate customers positive ROI on travel spend.
Sabre’s virtual card technology is focused on seamless integration into the agency workflow, capitalizing on the information already held in a booking record and removing the requirement for third party systems to add or manipulate data. This methodology reduces cost, enhances the quality of data from booking to ticket issuance, and delivers a unified data reconciliation process.
Sabre Corporation is the leading technology provider to the global travel 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 $120 billion of estimated travel spend annually by connecting travel buyers and suppliers. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world.