Travel Payments

CIBT Partners With Conferma Pay On Virtual Cards For Business Travel

How Virtual Cards Can Deliver Faster Payments

CIBT, which works in global immigration and visa services for both corporations and individuals, has announced an integration with Conferma Pay for virtual cards and streamlined business travel payments, according to a press release.

Conferma Pay works in helping businesses digitize payments. The partnership, the release stated, reflects the current atmosphere as countries begin to reopen after the worst of the pandemic, and customers continue to use digital payments and virtual options.

“With a cashless, plastic-free payment offering, virtual cards are replacing legacy payment methods because they overcome many historic payment challenges, such as labor-intensive reconciliation, fraud exposure and limited data insight,” according to the release.

CIBT corporate customers will now be able to access automatic reconciliation and better spend management tools like data insights. They can charge specific amounts to the virtual cards for payment for visa services.

Pete Fox, CIBT chief information officer, said the point is ease of access for travelers.

“The end-to-end payment integration means that businesses will be able to use a unique virtual card at check out for each visa purchase,” he said, according to the release. “Using CIBT and Conferma Pay, clients can rest assured that every aspect of compliance, financial security and information security is protected. As our customers navigate the current challenging environment, we seek to support them by streamlining the payment process for our visa services.”

Dave Wood, director of Hotel Products with Conferma Pay, said the company is focused on looking at helping to capture the cost of a trip from before the pandemic.

“[A]s we now look to further protect our traveling workforce, centralizing payment across all travel purchases and spend visibility is even more crucial,” he said, according to the release. “CIBT customers will be able to leverage the same secure controlled payment method utilized across air, hotel and ground transportation today. The rich data provided through the integration makes it easy to link visas to a complete travel booking.”

Virtual cards have been touted as positives for travel payments, according to a recent PYMNTS report due to their ability to cut down on fraud through customizable controls and the one-to-one factor for payments.

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