“The goal of our partnership is to bring efficiency, security and control to the payment process for both the traveller and their organizations."
BONITA SPRINGS, Fla. (PRWEB) February 25, 2020
Corporate Spending Innovations (CSI), a leading global provider of corporate payment platforms and a subsidiary of Edenred, the everyday companion for people at work, today announced that it has entered into a partnership with Conferma Pay, a leading fintech company specializing in end-to-end virtual payment solutions for banks, Travel Management Companies (TMCs) and B2B payment platforms.
The agreement means CSI’s corporate customers can now pay for travel using its virtual payment offering almost anywhere thanks to Conferma Pay’s extensive network of 700 TMCs, all major Online Booking Tools and all four major Global Distribution Systems. This virtual payment service for travel spend completes CSI’s existing virtual payment offering for account payable.
This agreement forms part of a wider trend as businesses increasingly seek virtual payment solutions from a single, preferred partner, wherever that spend takes place—whether it’s settling a supplier invoice or booking a flight. For CSI’s corporate customers, this means they can now work with their partner of choice for virtual payments across accounts payable and travel spend.
Virtual card payments are an increasingly popular way for businesses to pay for goods and services. Replacing legacy methods with a unique 16-digit virtual card number for each purchase helps businesses to gain greater visibility and control over spend.
Juliann Pless, SVP of Travel Solutions at CSI, says: “The goal of our partnership is to bring efficiency, security and control to the payment process for both the traveller and their organizations. We are excited to leverage the breadth and depth of Conferma Pay’s partner base combined with our client-focused support and proprietary technology to help clients streamline and automate their corporate travel payment processes.”
Simon Barker, CEO of Conferma Pay, states: “We are delighted to sign and welcome CSI into our network of payment providers. The partnership will deliver a first-class integrated payment solution, combining CSI’s global reach in accounts payable with Conferma Pay’s unmatched ecosystem of travel points of sale. Teaming up makes it much easier for businesses to use virtual cards across all areas of spend.”
CSI, an Edenred subsidiary, provides innovative payment solutions to world-leading brands with their highly secure corporate payment solutions that include CSI Paysystems, CSI Travel, CSI Go, CSI Connect, CSI Invoice, and global-fleet fuel cards. CSI customers can automate 100% of B2B payables including virtual credit card, ghost card, proprietary network, ACH, check, or FX with cross-border payments settled in local currency. CSI is a certified Mastercard processor and has obtained Visa Ready for Business Solutions approval. Learn more at http://www.corporatespending.com.
Edenred is the everyday companion for people at work. Its leading intermediation platform connects 50 million employees and 2 million partner merchants via 830,000 corporate clients, across 46 countries. Thanks to its global technology assets, the Group managed 2.5 billion specific purpose payment transactions in 2018, primarily carried out via mobile applications, online platforms and cards, and representing nearly €30 billion in business volume. Edenred’s 10,000 staff are driven by a commitment to improving employees’ quality of life, increasing companies’ efficiency and boosting merchants’ revenues. They achieve this through three business lines:
- Employee Benefits (food, meals, well-being, leisure, culture and human services)
- Fleet & Mobility Solutions (fuel, tolls, maintenance and business travel)
- Complementary Solutions, including Corporate Payment Services (virtual payment cards, identified wire transfers and supplier payments), Incentive & Rewards (gift cards and platforms, and incentive programs), and Public Social Programs.
For more information: http://www.edenred.com