Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

CITIZENM IMPLEMENTS CONFERMA VIRTUAL CARD PAYMENT SYSTEM 

CITIZENM IMPLEMENTS CONFERMA VIRTUAL CARD PAYMENT SYSTEM 

citizenM hotels is partnering with leading virtual payment FinTech company, Conferma, to make bookings easier and safer for its business travellers. Recently named Best Smaller Hotel Chain by the readers of Business Traveller, citizenM has joined the FinTech revolution by activating the Conferma Connect virtual card payment system for all travel agencies booking via GDS, as well as all leading OBTs.

Conferma Connect is a PCI-compliant secure, automatic and electronic transmission service for virtual payments, allowing virtual card details to be sent by cardholders to the hotel by a secure email. This is a game-changer for the corporate hotel settlement process as, prior to the system’s launch, the only method for transmitting virtual card information safely was fax – standard email is too insecure to handle sensitive data.

The demand for virtual card payments has grown significantly in recent years. The method involves a unique, secure card number kept and transmitted online to the hotel, eliminating the need for cardholders to have a physical card with them at check-in. Instead, when their reservation is confirmed the virtual card details are sent directly to citizenM via a Conferma Connect secure email, along with client-defined usage parameters for each booking.

Unlike traditional plastic, controls can be placed on how each virtual card is used, including what charges can be placed on the card, such as room and breakfast, the amount that can be charged, as well as the date and location where it can be used. As well as offering added security for the cardholder’s money, virtual cards provide automatic travel and transaction data reconciliation, simplifying the accounts process for hotels.

Speaking about the new partnership, Michael Levie at citizenM, explained: “Our customers want the freedom to be able to pay for their hotel stay using their preferred payment method and, increasingly, that isn’t cash or card, but digital alternatives like virtual cards.

“Customers expect both convenience and security and need to know that their card details will be safe from fraud. The partnership with Conferma is crucial as it allows us to provide customers with a hassle-free way to pay for their hotel stay, in the confidence that card details will never be compromised.”

Simon Barker, CEO of Conferma, added: “With Conferma Connect payments can be transmitted to a hotel’s existing computer system, eliminating the need to invest in outdated fax technology. We’re pleased to be able to support citizenM, so that they can continue to meet their customers’ needs.”

If you would like to find out more about Conferma’s virtual card payment solutions, visit: https://www.confermaconnect.com/

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post