Payment settlement technology supplier Conferma is expanding its services into a range of business travel sectors.
Already established in the hotel business, the company is offering corporates and travel management companies the ability to book, reconcile and settle low cost carrier transactions.
“This is part of a planned roll-out of Conferma’s offering to other areas such as car rental, rail and other areas of corporate spend,” said chief executive Simon Barker.
“Corporates have told us they want a more controlled and streamlined process, as well as a better audit trail on their low cost carrier spend, so we are now pioneering T&E virtual reconciliation and settlement technology in the low cost carrier field.”
The technology provides corporates and TMCs with a centralised settlement and reconcilliation service regardless of whether booking a low cost carrier ticket through a GDS, the airline’s website or other booking platforms.
A virtual card is created with payment partners which corporates and their TMCs can use to pay and settle low cost carrier bookings in a secure environment, according to Conferma.
The company has agreements with payment partners, American Express, Barclaycard and AirPlus.