By Business Travel Executive
UATP, the payment solution owned by airlines; and Conferma Pay, a payment technology company, have launched a partnership to bring virtual card payment technology to airlines and travel agencies. 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 for proactive management of purchasing, ensuring that payment is made only through authorized channels for specific amounts. This process, according to the companies, eliminates ambiguity about approved spending, reducing the cost for all parties involved in the transaction process. Dave Holmes, chief commercial officer for UATP, said the arrangement would provide network members with a more secure, cost-effective way to manage payments when booking travel. He said airlines will benefit from the fact that UATP virtual cards are typically less expensive to accept as payment.
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