I
t seems like every month a data security breach on
an enterprise scale makes headlines. Companies are
searching for ways to protect their financial data,
and virtual payments offer an easy solution. According to
Gabe Rizzi, President at Travel Leaders Corporate, “Virtual
payments are coming up in nearly every dialogue we have
with existing customers and new prospects about how they
can implement a virtual card strategy within their travel
program to really insulate against security threats.” With a
virtual payment, you get a unique credit card number with
each reservation, making the transaction virtually bulletproof.
Data security is a serious and ongoing issue. Major
cybersecurity breaches like the one that hit Equifax in 2017
can affect over 100 million people. But even small-scale data
breaches can expose names, addresses, email addresses and
credit card information, which can be devastating for a small
or medium-sized business. Once personal data is stolen,
employees become vulnerable to phishing emails that can
swiftly compromise an entire company.
How can you move quickly to protect your company’s
financial integrity? A virtual credit card solution is a good
defense against emerging dangers and additionally offers
users control, convenience and security. A virtual payment
system produces single-use credit cards with a 15-digit card
number that work the same way plastic credit cards do.
Reliable Payments
While the convenience of a virtual payment solution is
attractive to many business travelers, when you’re standing
at the hotel check-in desk, it can be less appealing. The
actual use of a virtual or one-time payment for hotel rooms
has been rated difficult to impossible by many business
travelers. The technology hasn’t been able to reach all the
way from the booked itinerary to the front desk. When
there’s no physical card to produce and a fax isn’t cutting it,
you have to rely on a travel manager to clear up any issues.
That’s where Conferma comes in. Travel Leaders
Group and Conferma have partnered to provide virtual
transactions that allow companies to pay hotels around the
world before their employee walks into the lobby. The virtual
cards they power are accepted anywhere a plastic card is
accepted—and in any currency. Conferma payments are
accepted by travel merchants in 197 countries and are held
within a reservation from initial booking to final transaction.
Elevating the Art of Business Travel
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