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Conferma Pay and Mastercard Partner on Expense Management Solutions

virtual cards, b2b payments, commercial payments

Conferma Pay and Mastercard expanded their partnership to enhance expense management and hotel reconciliation for employees and corporations.

The collaboration will enable mobile virtual card payments, providing a convenient and secure travel payment experience, the companies said in a Wednesday (Dec. 6) press release.

Through Mastercard’s virtual card solution, which combines its virtual card and tokenization platforms, Conferma Pay will provision Mastercard virtual cards into select mobile wallets, according to the release.

This will enable employees to access their company-assigned Mastercard virtual cards on their phones and smartwatches, allowing them to make mobile payments in-app, in-store and online with ease, the release said.

“The launch of mobile wallet capabilities for Mastercard virtual cards provides choice for issuers to their customers and a simple way for businesses to capture, track and control employee spending,” Jason Lalor, CEO of Conferma Pay, said in the release.

One of the benefits of using virtual cards is the ability for travelers to pay at hotel checkout using a virtual card, according to the press release. Additionally, virtual cards can be used for ad-hoc purchases, reducing the reliance on personal funds and the need for expense reimbursement.

By leveraging Mastercard’s virtual card application programming interfaces (APIs), issuers can generate virtual cards with flexible and customizable spend controls aligned with their corporate customers’ travel and expense (T&E) policies, the release said.

Furthermore, the extended collaboration between Conferma Pay and Mastercard will simplify the reconciliation of hotel expenses, per the release. The Conferma Pay Snap+ data enrichment solution eliminates manual processes such as expense submissions and receipt tracking, providing a smoother experience at the point of payment and ongoing financial management of hotel invoices.

“As more corporations seek convenience in managing travel expenses, we’re focused on powering a simple, secure and seamless T&E process,” Chad Wallace, global head of commercial solutions at Mastercard, said in the release.

PYMNTS Intelligence has found that remotely issued virtual cards have emerged in the corporate world as a popular, easily deployable solution.

Two of the primary draws of using virtual cards are their ability to cut costs and increase security, according to “B2B Workforce Spend: A Guide to Modernizing Businesses’ Everyday Spend,” a PYMNTS and Conferma Pay collaboration.