Confermacuts the cost of recurring travel payments

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Posted By Gbaf News

Posted on May 30, 2018

Confermacuts the cost of recurring travel payments

With the launch of Conferma WALLET

Conferma WALLET is Conferma’s answer to digitizing recurring and regular travel payments at a much lower cost.

This is the latest innovation to come from leading global FinTech company, Conferma, following the launch of Conferma Pay this month, a world-first in virtual payments.

Conferma WALLET is a payment service that stores prepaid funds to allow for fee reductions, real time transactions, automatic updates and reconciliation to build greater efficiencies in all aspects of business. It is a cost effective arrangement for Travel Management Companies (TMCs) that allows instant payment for air, rail, card rental and other types of corporate travel services.

Simon Barker, CEO and Founder of Conferma said: “Conferma WALLET is a closed loop payment process enablingTMCs and airline ticket distributors in particular to deposit a large amount of funds with airlines. The airline subsequently utilises the prefunded account to issue tickets but does by avoiding all merchant cost fees, resulting in a significant cost reduction.

“This solution avoids the costs of credit card interchange altogether, as well as providing greater access to information via the Global Distribution Systems and airline ticket distributors. This is an additional service that was often prohibited due to the cost of distribution, hence makes for a very attractive solution to the lower cost carriers.”

Sabre, a leading technology provider to the global travel industry, has adopted Conferma’s new technology within its Global Distribution Systems.

Jay Jones, senior vice president for Sabre Travel Network in the Americas said: “This new technology enables all of our GDS subscribers worldwide to efficiently shop, book and manage travel for valuable content not previously available in the Sabre marketplace, and is proving to be highly successful.”

Conferma has now become a world leader in deep virtual payment integration and will launch Conferma WALLET internationally throughout the 197 countries in which it operates.

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