January 26, 2017
Conferma Partners with DerbySoft To Boost Payment Options
We’re pleased to announce our partnership with Conferma, a global FinTech company specialising in virtual card technology. The partnership means an expansion of payment options available to the world’s global hotel companies, giving them a fully integrated virtual payment solution into their accepted payment methods for the first time.
As multi-channel travel commerce enables hotels to reach more customers, and online travel sales continue to grow at an estimated 12% per year, this inevitably has an impact on payments. These payments from customers come to hotels from multiple sources, which can be difficult to match against bookings.
Here at DerbySoft we provide solutions to global hotel companies to address these difficulties, but standard payment options continued to pose a number of issues for hotels and their customers. With high credit limits and multiple bookings to reconcile against one card number, these methods expose clients to risks of fraud and revenue loss through unmatched transactions and lost productivity.
DerbySoft will integrate Conferma-powered virtual payment services with its existing technology. The integration will enhance the agile nature of DerbySoft’s global service offering with virtual card payments in 40 currencies across multiple banks in 193 countries.
DerbySoft’s customers can now benefit from virtual payment that offers the distributor a host of controls that help them pay more efficiently while reducing the risk of fraud. Providing virtual cards across multiple distribution channels, this complete solution allows for the generation of prefunded credit and debit-based virtual cards within the demand-side workspace without any changes to the normal booking workflow.
Simon Barker, CEO of Conferma said, “Complex, multiple-merchant accommodation bookings have led to a confusing landscape of payments to hotels from a variety of sources, but virtual card payments offer a streamlined method of payment that is automatically reconciled against individual bookings. We are pleased to work in collaboration with DerbySoft to eliminate these complexities and make it easier for hotels and travel agents to increase their payment security and maximise potential revenue.”
Rachel Neal, VP of Connectivity for DerbySoft, said that, “We want to offer more flexibility and better payment security within a seamless payment process for booking accommodations channels. Flexible connectivity is fundamental to our vision, and the flexibility provided by Conferma-powered virtual cards will ensure continuity of payment and reconciliation services for our customers, regardless of the booking method used.”
We’ll continue collaborating to further reduce both inefficiencies and risk within the procurement process.