MANCHESTER, England, Feb. 14, 2019 /PRNewswire/ -- UATP and Conferma Pay today announced a partnership to bring virtual card payment technology to airlines and agencies. This joint solution makes airline payments more secure and offers superior reconciliation benefits.
With virtual payment, a unique, one-time card number is generated for each booking with all of the transactions reconciled back to the central account. The spending controls allow you to proactively manage purchasing, ensuring the payment is only made through authorized channels for specific amounts. This ensures there's no ambiguity about approved spending, reducing the cost for all parties involved in the transaction process.
Virtual payment technology links the one-time card number with enhanced data throughout the airline ticketing lifecycle. This brings efficiencies and control by eliminating the need for manual reconciliation of booking and payment data. The process is automatic, saving hours of back office file-checking, eliminating billing issues, making internal tracking and spend reporting much easier for organizations.
UATP's customers now have the option to utilize virtual payments through a global corporate travel ecosystem. The solution powered by Conferma Pay is integrated directly at the point of sale into all major global distribution systems, over 100 booking tools and 500 travel management companies.
"We look forward to working with Conferma Pay to provide our Network members with a more secure, cost effective way to manage their payments when booking travel," said Dave Holmes, Chief Commercial Officer. "Virtual payments have become increasingly popular in the travel industry which makes it important to provide these types of solutions for our members. Airlines will benefit from the fact that UATP virtual cards are typically less expensive to accept as payment."
"Conferma Pay is delighted to be partnering with UATP, the premier airline payments provider," said Paul Raymond, Director of Strategic Relationships. "Our partnership will deliver a world class integrated payment solution, utilizing the global reach of UATP combined with the innovative technology of the Conferma Pay platform."
Virtual payments are setting a new standard for a more secure, fraud-proof method of booking and reconciling air spend for corporations. Their adoption in North America and Europe has been overwhelming with emerging markets representing a huge growth area in the near future.
About Conferma Pay
Conferma Pay is a global payment technology company, combining innovation and expertise to consistently find success in pushing the boundaries of what can be achieved in the payment world.
Conferma Pay flows business transactions on the fastest payment networks rails, currently linking over 35 issuing banks, 500 travel management companies, 100 booking tools, many FTSE 100 companies, all leading global distribution systems (GDS) and governments across 200 countries and 40 currencies.
UATP is a global payment solution owned and operated by the world's airlines and accepted by thousands of merchants for air, rail and travel agency payments. UATP connects airlines to Alternative Forms of Payment which can expand reach and generate incremental sales globally. UATP offers easy-to-use data tools, DataStream℠ and DataMine℠, which provide comprehensive account details to Issuers and corporate travel buyers for accurate travel management.
Accepted as a form of payment for corporate business travel worldwide by airlines, travel agencies and Amtrak®; UATP accounts are issued by: Aeromexico; Air Canada (TSE:AC) Air New Zealand (ANZFF.PK); Air Niugini; Air Serbia; American Airlines (NASDAQ: AAL); APG Airlines; Austrian Airlines; China Eastern Airlines (NYSE: CEA); Delta Air Lines (NYSE: DAL); EL AL Israel Airlines; Etihad Airways; Frontier Airlines; GOL Linhas aereas inteligentes S.A. (NYSE: GOL and Bovespa: GOLL4); Hahn Air; Japan Airlines (9201:JP); JetBlue Airways; Qantas Airways (QUBSF.PK); Shandong Airlines; Sichuan Airlines; Southwest Airlines; TUIfly GmbH; Turkish Airlines (ISE:THYAO); United Airlines (NYSE: UAL) and WestJet.
AirPlus International issues the UATP-based Company Account for Lufthansa German Airlines.
UATP Corporate Communications
Wendy Ward, [email protected]
+1 202 774 5017