Sabre Travel Network launched virtual payment technology powered by Conferma, a provider of travel and expense, booking, settlement and reconciliation solutions, that will simplify payment processes for travel management companies.
Called Travel Settlement Services, it is available initially in the U.K. and will be rolled out in other markets throughout the year.
Generally, TMCs in the U.K. use the credit card stored in the client’s profile to book hotels. Guarantees and payment settlement must be performed manually in a multi-step process.
Sabre’s Travel Settlement Services creates a virtual-credit card at the time of booking and is automatically sent to the supplier to guarantee the reservation.
The virtual credit card is charged at checkout, and Travel Settlement Services automatically reconciles the booking to the payment.
Sabre said TMCs will save time and money on manual payment processes, such as the hotel bill-back payment plan, and decrease their vulnerability to fraud.
Travel Settlement Services is a fully automated process in the Sabre Red Workspace and is PCI compliant.