Sabre Corp and Visa have agreed a partnership to support the growth of business-to-business (B2B) virtual payments in the travel industry.
The tie-up will see travel buyers and suppliers able to pay and get paid with virtual Visa commercial cards through the Sabre Virtual Payments solution.
The firms’ customers will be able to access Visa’s virtual B2B payment solutions, enabling faster, more secure payment options as well as more control and visibility into individual B2B travel-industry payments, said Sabre.
Wade Jones, president of Sabre Travel Network, said: “Bringing together Visa’s leadership position in digital B2B payments with Sabre’s virtual payment technology and global network of customers represents a tremendous opportunity to increase the adoption of B2B virtual payments in the travel industry.
“Sabre’s investment in virtual payments and its integration into existing agency processes makes it quick and easy for our customers to adopt and use.”
Kevin Phalen, global head, Visa Business Solutions, added: “Supporting the expansion of electronic B2B payments in the travel industry is one of our core focus areas.
“By bringing together Visa and Sabre’s travel-industry capabilities and solutions, we will help further streamline cash flow and overall finance management practices for suppliers and buyers, helping remove barriers to transparency in business payments created by paper-based processes.”