Virtual payment gives corporations a central method to bill services, and a better way to audit and account for travel spend.
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Deem, an Enterprise-owned mobile and cloud technology provider for the corporate travel industry, today announced the launch of its first virtual payment provider program with Conferma Pay, a leading FinTech company specializing in virtual card technology.
The new program allows corporations to use virtual payment solutions for travel spend, starting with hotel bookings and extending to airfare and ground transportation.
Virtual payment gives corporations a central method to bill services, and a better way to audit and account for travel spend. This solution helps corporations mitigate security and fraud, especially in regions or countries with higher levels of fraudulent activity. Travelers also aren’t required to present a credit card at hotel check-in, mitigating their personal risk.
The virtual payment program service is available for hotel content across all GDS with a direct integration to Conferma Pay via their API and is available for profiled and non-profiled users of the platform. The system also supports custom PNR remarks by leveraging Deem’s unique PNR Editor functionality.
Functionality will be available to customers by the end of Q3.
Conferma Pay is globally connected to more than 500 travel management companies, all five major global distribution systems and is fully integrated with all the major card schemes serving more than 36 banking partners.
Deem’s personalized business travel management platform uses advanced technologies to provide optimized solutions for travelers, corporate travel managers and travel management companies.
Deem’s platform, Work Fource, brings design, machine learning and customization together to provide the business travel ecosystem with a solution for managing travel costs at the beginning of the booking process, and integrating them seamlessly with the back-end expense reporting required by finance departments.