Virtual payment makes business travel more efficient, compliant and fraud-resistant

Virtual payment makes business travel more efficient, compliant and fraud-resistant

Carlson Wagonlit Travel, the global travel management company, today publishes a white paper on The Virtues of Virtual Payment. The paper analyzes the shifting requirements of digitalized travel as business and government travelers increasingly turn to virtual payment. Virtual payment acts like a digital credit card that has a single use parameter that can be issued immediately and enables centralized billing.

“Virtual payment transactions use a unique ID, making it both easier to identify and track a transaction, and also practical in stopping fraudulent abuse,” said Clive Cornelius, senior director, of global card products, Carlson Wagonlit Travel. “This digital payment solution is a safe and attractive option for companies looking to centralize payment, reduce payment inefficiencies, liabilities and potential corporate card abuse – which in turn gives employers greater flexibility.”

Virtual payment solves many issues and challenges found in using traditional corporate credit card programs including:

 

  • Availability. Not every employee who travels is issued a corporate card.
  • Security. Credit cards can be lost, stolen, cloned or misused. Virtual payment lets companies tailor usage parameters including credit limits, dates of use, where it can be used, all of which increase travel policy compliance and decrease fraud.
  • Reporting. All required reporting data is captured as the virtual card is created resolving reconciliation headaches.
  • Compliance. Virtual card limits can be setup to only allow in-policy purchases.

CWT’s global virtual payment offering powered by Conferma, available since June 2014, connects to 26 different banking partners around the world and virtual cards created have expanded by 35% in the past 12 months. This alternative digital payment works in multiple currencies and is increasingly accepted by travel suppliers,

About author

TnH Global
TnH Global 4067 posts

Our platform is the most comprehensive, current and accurate content destination for tourism that also offers the opportunity to connect and network with quality buyers and sellers.

Name: TnH Global              Email: admin@tnhglobal.com

You might also like

Latest

CM Naveen Patnaik inaugurates the Largest Investment Conclave ‘Make In Odisha’

Odisha’s biggest ever investment summit ‘Make in Odisha Conclave’ was inaugurated recently by the Hon’ble Chief Minister of Odisha Shri Naveen Patnaikin the august presence of government and corporate dignitaries

Latest

Undercutting is not for the long-term. The demise of Low Cost Travel.

As keen observers from the travel world have found out, the €700 million companies (approximately Rs 5,000 crore) travel company “Low Cost Holidays” went into bankruptcy in London on 15

Latest

BLS International launches Spain Visa Application Center in Chennai

For the convenience of the residents of Tamil Nadu we offer to provide quick, economical & hassle free visa services. Plans to open more Spain Visa Application Centers in South

Trending

Thomas Cook’s Centre of Learning delivers strongly on Skill Development and Employment Generation for the Travel & Tourism sector

18% Year on Year growth in generation of a skilled work force 75% of students employed leading to growth in job creation for the sector India is one of the

Trending

Growing Tourism into Singapore together with travel trade from six (6) cities in India

Singapore Tourism Board and Singapore Airlines Group embarked on a six (6) city roadshow across India, with positive participation from 39 Singapore stakeholders and over 800 in-market travel agents. India

Destinations

Make your home your stage with lessons from Kennedy Center of Performing Arts, Washington DC

Enjoy free videos of extraordinary live and on-demand performances and educational activities to do at home, with new releases daily. Micro-commissioned by the Kennedy Center The Play at Home project

Trending

Aloft New Delhi Aerocity introduces a ten-day Rajasthani Food Festival

Embark on a royal culinary journey as Aloft New Delhi Aerocity introduces a ten-day Rajasthani Food Festival at Nook, its signature all-day dining restaurant. Foodies can explore the hidden treasures

Destinations

Norwegian Cruise Line has released its 2018-2019 Europe Cruising Guide

Norwegian Cruise Line has released its 2018-2019 Europe Cruising Guide, boasting over 30 cruise itineraries embarking from nine convenient cities departing between June 2018 – November 2019. Offering guests the

Latest

ETHIOPIAN AIRLINES STARTS DOUBLE DAILY FLIGHTS FROM NEW DELHI TO ADDIS ABABA

Ethiopian Airlines recently started double daily flights from New Delhi to Addis Ababa apart from double daily operations from Mumbai. Addis Ababa is the capital of Ethiopia and a Major

Slider

Oman Tourism familiarization trip for MICE agents

Mumbai & Delhi have been identified as primary markets to source MICE movements into Oman. Agents from major agencies in these markets recently witnessed Oman’s offerings as a MICE destination

Government

US travel ban ‘not best way to protect’ America says UN

Under the executive order signed by President Donald Trump last Friday, refugees from all over the world will be denied US entry for 120 days. UN Secretary-General Antonio Guterres said

Latest

Thai Airways increases frequency to 19 flights a week from DELHI to BANGKOK

Effective 01st April 2016, THAI will operate additional daylight flight TG324-TG323, increasing frequency to 19 flights a week.The additional day flight will offer greater options to passengers travelling to Australia

0 Comments

No Comments Yet!

You can be first to comment this post!