Conferma, a vanguard in leading technology aiming at integrating multiple travel suppliers has announced its partnership with Wirecard to introduce “Virtual Suppliers Payment Card’ by Wirecard for business travel transactions through Conferma’s network. Wirecard’s virtual card would be made available in Asia Pacific for the first time. The partnership would bring about an extension to reach additional consumer base for Wirecard. This is in accordance with company’s direct initiatives to bring about Virtual Card services to the travel network in a mid-currency fashion supporting travel management companies with reconciliation and data to support their own client travel programs.
Conferma is a FinTech company specializing in Virtual Card technology. Headquartered in Manchester, Conferma manages travnsactions in 96 currencies in 193 countries and is an industry standard in corporate travel payment. Conferma’s Virtual Card technology is mainly about simplifying over-complicated processes in Travel and Expense payments. Conferma’s many established travel partners include all three Global Distribution Systems (GDS), Sabre, Amadeus and Travelport; leading corporate Travel Management Companies (TMCs) such as CWT, HRG, AMEX GBTA; online booking tools and other booking technology providers.
Wirecard’s Executive Vice President of Global Financial Services, Grigoriy Kuznetsov, said: “We were looking for a way to integrate with global distribution systems and travel management platforms that are already on the market without approaching each vendor individually. Conferma offers a unique solution for this need and enables us to address a wide range of clients around the world through a single API integration. We are looking forward to leverage our partnership in combination with our global issuing operations to enable virtual card payments for our joint clients across multiple geographies.”
Wirecard AG is a global technology group that supports companies in accepting electronic payments from all sales channels. As a leading independent supplier, the Wirecard Group offers outsourcing and white label solutions for electronic payments.
Conferma was able to tap into APIs to seamlessly integrate its Virtual Card delivery platform with Wirecard’s Card Management System in a very brief time. Darren Blair, Director of Sales, Asia Pacific at Conferma said: “Wirecard is an innovative and forward thinking leader in payments. Together, we have worked to deploy a multi-country and multi-currency tool, and we look forward to powering Wirecard’s virtual card payments and data reconciliation, expanding the solution globally.”
Although the payment solution would specifically target Asia Pacific, Wirecard is looking at a global expansion. The duo currently plans to seep into Singapore, followed by Hong Kong and then Australia.
Wirecard has been taking a stride with travel and tourism industry as they had launched Mobile Payment Solution in Lufthansa WorldShop Stores where Chinese tourists can pay with mobile Alipay Barcode Payment Payment. Its pilot phase began this month. Hence, this would not come as a surprise.
TravHQ take: The aforementioned solution would enable virtual cards to be issued in expandable currencies as they take their first plunge in Asia Pacific.