Mastercard agrees to take an interest in Conferma

Mastercard partners with Saber Corp. and Conferma Pay to build new virtual card capabilities, and Mastercard will take a minority stake in Conferma as part of the deal, Saber announced.

Financial terms of the investment have not been disclosed and remain subject to client closing terms, Saber said.

Saber acquired Manchester-based Conferma in August and offers its services as part of Saber Virtual Payments, which integrates Conferma and its publisher network into Sabre’s products. That acquisition alongside the Mastercard partnership is part of a goal for Saber to “create an open and independent travel payments ecosystem,” Saber said.

“Companies in the travel industry, including travel management companies, travel agencies, corporations, publishers and technology partners, need cutting-edge solutions and seamless connections,” Saber Travel Solutions EVP and chief commercial officer Roshan Mendis said in a statement. “The new partnership with Mastercard will help Conferma Pay build new and improved digital capabilities into virtual cards, transforming the payment experience for issuers.”

Conferma, which reports affiliations with more than 700 travel management companies, all major global distribution systems and more than 100 online booking tools, will continue to operate as an independent entity, according to Saber.

For Conferma, the Mastercard partnership will “enable Conferma Pay to build on our global footprint and lead the way in addressing industry challenges and opportunities,” said Martin Cowley, interim CEO of Conferma.

The payment offer has become an increasingly important focus for travel organizations in recent years. In recent weeks, Amadeus has announced that it will launch its own wholly-owned payments company, Outpayce, next year, with a prepaid virtual card as its first offering.

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