Virtual payment services will streamline and automate settlement of air segments for travel buyers
SOUTHLAKE, Texas – July 29, 2014 – Sabre Corporation (NASDAQ: SABR), together with payment services partner Conferma, announced the launch of Sabre Virtual Payments for air travel, providing a true touchless travel payment service built on the most secure payment card technology available.
For travel buyers, Sabre Virtual Payments for Air will increase productivity and security through a streamlined, automated solution that assigns a unique virtual credit card number to each travel segment. In addition, the flexible nature of Sabre Virtual Payments allows corporations to control the exact dollar amount of any single transaction and ensure that only airlines are able to bill to these accounts, which delivers even more fraud protection and increases travel policy compliance.
“The effective management of a corporate travel program is becoming increasingly complex and corporate travel managers face increased pressure to deliver a positive ROI on their travel spend,” said Greg Webb, president of Sabre Travel Network. “Virtual payment services are a huge opportunity to realize increased efficiency through automated processes and better data integration.”
Sabre Virtual Payments for Air is a streamlined form of payment that allows customers to deploy virtual credit card numbers from a preferred partner bank or credit card at the point of sale. As the initial launch partner of Sabre Virtual Payments for Air with Sabre and Conferma, U.S. Bank is the first to market by adding air travel capability to its Travel VirtualPay solution.
“The addition of virtual card numbers for air is great news for our card program customers who already enjoy the option of VCNs for hotel bookings,” said U.S. Bank Travel Product Manager Mary Miklethun. “This makes U.S. Bank Travel VirtualPay even more valuable in allowing clients to capture and manage every travel dollar they spend.”
Sabre already offers Sabre Virtual Payments for Hotels, a solution that is used by many travel management companies and corporations today.
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 (NASDAQ: SABR) 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, such as passenger and guest reservations, revenue management, and flight, network and crew management. Sabre® also operates a leading global travel marketplace, processing over $100 billion of estimated travel spend in 2013 by connecting travel suppliers to their most valued customers, the business traveler. Headquartered in Southlake, Texas, USA, Sabre operates offices in approximately 60 countries around the world.