US Bank Launches Travel Billing and Reconciliation Tool
US Bank has launched an automated travel billing reconciliation tool at the Global Business Travel Association’s annual convention as the newest addition to the bank’s expanding suite of global corporate travel payment solutions. Travel VirtualPay, which is powered by Conferma, replaces manual central billing with single-use account numbers for managing air, hotel and car bookings.
Stemming from a partnership between US Bank and Conferma, Travel VirtualPay can replace a variety of central billing methods, including ghost accounts, agency invoices and hotel direct bill. It also provides organisations with a way to pay for travel by individuals who are not issued plastic, such as job candidates, contractors and infrequent travellers.
“US Bank Travel VirtualPay takes the work out of billing and reconciliation,” said Ramel Lindsay, group product and programme manager for US Bank corporate payment systems. “It allows travel managers to capture spending that is currently falling outside their card programmes, with a result of greatly enhanced control and efficiency.”
Conferma has also partnered with Sabre, a large travel marketplace provider, to extend this capability to a broad base of travel agencies.