|October 16, 2014|
Abacus Partners With Conferma To Launch Virtual Payment Solution In Asia Pacific
|Conferma, the expert providers of Virtual Card Number (VCN) technology for the corporate travel sector, has signed a global contract with Abacus, the leading 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," explained Robert Bailey, President and CEO of Abacus. "Beyond the productivity gains, however, this initiative with Conferma is about security and control."
By generating a unique VCN for every travel booking, the new Abacus VirtualPayment 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.
Commenting on the launch, Simon Barker, CEO of Conferma, added, "Working with Abacus, we can transform the corporate travel sector's expense management capabilities in Asia Pacific, removing time-consuming and costly manual processes. We are delighted to be extending our VCN technology into this region, building on Conferma's turnkey payment solutions in Europe and the Americas."
Abacus VirtualPayment integration is seamless, enabling all clients to retain their preferred banking partner relationships or choose others from within the Conferma global banking network.
Abacus and Conferma are showcasing the VCN solution to 500 delegates representing Asia Pacific's leading travel brands at the ground-breaking Abacus International Conference #AICONF14 in Abu Dhabi from 14 -- 17 October, 2014.
Conferma is an expert in Virtual Card Number (VCN) technology for the settlement and reconciliation of corporate travel bookings. Conferma's VCN technologies enhance operational efficiencies and drive cost savings, whilst providing tighter payment controls and offering detailed and accurate data on corporate travel expenditure. Conferma first launched its payment platform in 2004 and is privately owned.
Singapore-based Abacus International is Asia-Pacific's leading provider of travel solutions and services with more than 20,000 travel agency locations in 31 markets. With over 26 years of experience in fusing international best practices and local expertise with global and local partnerships, Abacus provides travel information and reservations specifically tailored to the Asia-Pacific region.
Abacus International is owned by Sabre and a consortium of Asia's leading airlines including All Nippon Airways, Cathay Pacific, China Airlines, EVA Airways, Garuda Indonesia, Dragonair, Philippine Airlines, Malaysia Airlines, Royal Brunei Airlines, SilkAir and Singapore Airlines. Sabre is the global leader in the electronic distribution of travel and travel related services.