Conferma

Conferma operates as a financial technology company specializing in virtual payment technology for business-to-business (B2B) transactions, with a significant focus on the corporate travel sector. The company was founded in 2005 by Simon and Jim Barker, who identified a need for a centralized and more efficient payment solution for corporate hotel bookings. Before its acquisition, Simon Barker served as the CEO. The current CEO is Jason Lalor, who brings over two decades of experience in commercial operations and strategy from various fintech companies.

In August 2022, Sabre Corporation acquired Conferma for $72.5 million, a move designed to expand Sabre's investment in the travel payments ecosystem. Conferma had been a long-standing partner of Sabre, powering its Sabre Virtual Payments proposition since 2011. Following the acquisition, Mastercard also made a minority investment in the company. Now part of Sabre's Travel Solutions division, Conferma continues to operate under its brand, which was recently updated from Conferma Pay.

The core of Conferma's business is its virtual card platform, which generates single-use card numbers for specific corporate transactions. This model serves businesses of all sizes, from startups to large enterprises, by providing enhanced security, control, and data visibility for their expenditures. The platform allows companies to set precise spending limits, expiry dates, and usage parameters on each virtual card, which minimizes the risk of misuse and fraud. Revenue is generated through transactional fees from travel management companies and other partners utilizing its payment network.

Conferma's technology integrates with a vast network of partners. It connects over 50 banking partners, more than 700 travel management companies (TMCs), all major Global Distribution Systems (GDSs), and over 175 online booking tools (OBTs). This ecosystem enables clients, such as corporate travel managers and accounts payable departments, to automate payment processes, streamline reconciliation, and improve cash flow. For instance, the system can automatically match invoices with payments, eliminating a significant amount of manual work. The company also offers products like Conferma Connect to facilitate digital payment communication with hotels and is working to phase out legacy methods like fax. Through mobile apps, employees can request and use virtual cards for approved business expenses, further simplifying the process.

Keywords: virtual payments, corporate travel payments, B2B payments, virtual card technology, travel and expense management, payment reconciliation, financial technology, fintech, Sabre, accounts payable automation, secure payments, travel management companies, global distribution systems, online booking tools, expense control, payment integration, API integration, virtual credit cards, corporate purchasing, supplier payments, invoice automation