Virtual cards are becoming a standard payment method within the travel industry and according to the numbers it’s happening faster than you may think!
Virtual cards function in the same manner as traditional credit cards but with additional benefits and enhanced security controls.
Travel Agencies using Virtual payments are saving time with automated reconciliation.
Automated matching of the travel data with the billed data greatly reduces the time it takes to complete the reconciliation process, provides more timely payments to preferred suppliers and makes it easy to identify travellers that are not complying with corporate travel policy.
Compliance is another major benefit Travel Agents are experiencing.
A virtual card is deployed during the reservation process and sends payment instructions and restrictions to the travel supplier.
This ensures preferred suppliers are used and components of the travel policy are enforced fairly throughout the company.
Sabre Virtual Payments was the first solution in this space for the travel industry so if your business is looking to streamline its business processes and reduce the risk of fraud contact the team at Sabre to discuss your options.