Sabre Corporation (NASDAQ: SABR) has launched Sabre Virtual Payments, an industry-leading payment and settlement integration tool, into GetThere, its corporate online booking system.
The integration of virtual payments at the point of sale will help travel management companies and corporate travel departments improve efficiency, compliance and security.
The automated solution assigns a single-use, unique virtual credit card number to an individual hotel reservation. Travel policies are pre-set at the employee or contractor level and attached to the booking, so the Virtual Card Number (VCN) can only be used to pay for predetermined expenditures and with pre-set spending limits. Upon completion of a traveller’s trip, automated matching of the booking to payment eliminates the need for manual reconciliation and settlement of hotel travel expenses.
Airfare expense reconciliation and settlement capabilities will be added in the coming months
GetThere is currently used by nearly half of the top 100 largest corporate travel buyers, and processes more than 12 million transactions annually.
For more information, visit Sabre’s website.