Conferma, a virtual card number (VCN) technology provider for the corporate travel sector, has signed a global contract with Abacus, a global distribution system in Asia Pacific. The collaboration will give corporate travel management companies and corporate travel agencies throughout the region access to a secure virtual payment solution, starting from the end of this year.
Integrated within Abacus WorkSpace, VCNs will improve agents’ control, data and process efficiency across the full spectrum of corporate travel, from hotel reservations to air and rail tickets, car rentals and more. Automated reconciliation of booking and transaction data will also deliver enhanced process efficiencies, whilst offering Abacus agents a more granular view of their clients’ corporate spend.
“The scale and diversity of bookings managed by Abacus agents make the process efficiencies in VCN technology very significant. Beyond the productivity gains, however, this initiative with Conferma is about security and control,” Robert Bailey, President and CEO – Abacus.
By generating a unique VCN for every travel booking, the new Abacus Virtual Payment solution will provide a more secure alternative to physical corporate or lodge cards, while dynamic credit limits, charge validity dates and merchant category restrictions further strengthen corporate governance.