Managing travel spend while improving traveler experience is a balancing act – and virtual payment automation helps keep both sides in check. That’s why BCD Travel has expanded its strategic partnership with Conferma, the global leader in virtual card technology for business travel.
The enhanced collaboration will accelerate the use of virtual payments across the travel ecosystem, delivering greater automation, visibility and control for managed travel programs.
What this means for managed travel programs
BCD and Conferma are investing in smarter ways to simplify hotel payments and streamline reconciliation. We’re building connected solutions that make it easier to manage spend, reduce manual work and improve the traveler and finance team experience.
This includes:
- Expanded hotel payment automation through Conferma integrations with hotel property management systems
- Automatic invoice intake for virtual payments – cutting down reconciliation tasks and improving accuracy
- Stronger data integration into BCD’s spend management platform for better tracking and decision-making
“This marks an evolution in the payment landscape for managed travel,” said Yannis Karmis, SVP Product and Development for BCD. “By investing in this partnership, we’re furthering our commitment to building seamless, secure and scalable payment solutions that meet the evolving needs of our clients and the industry at large.”
Why virtual payments are gaining momentum
Business travel spend is projected to surpass US$1.8 trillion by 2027, according to the GBTA Business Travel Index Outlook 2023. With that growth comes increased complexity – and a stronger need for smarter, more secure payment methods.
Virtual payments are rising to meet that need. Juniper Research forecast that virtual cards will grow at a 20% compound annual growth rate globally through 2030, driven by their ability to:
- Improve security and reduce fraud risk
- Provide real-time visibility into spending
- Simplify reconciliation for finance and accounting teams
A future-focused partnership
BCD and Conferma have worked together since 2011, with many BCD clients among the earliest adopters of virtual card solutions. This renewed agreement doubles down on our shared commitment to innovation, integration, and delivering value through payment technology.
“Thanks to an increased integration with our hotel partners, we’ve seen an increase in card acceptance and folio collection percentage rates, expanding the data integration directly into our spend management platform – simplifying reconciliation and enhancing insights for our clients,” said Neil Fyfe, Head of Payment Solutions at BCD.
“This partnership reflects a shared vision to remove friction from business travel,” said Jason Lalor, CEO at Conferma. “We’re bringing together world-class technology, scale, and deep travel expertise to drive smarter, more efficient payment experiences across air, hotel and beyond.”
BCD is also increasing internal investment in this space over the next several years to develop new capabilities, strengthen automation and support evolving client needs.
If your team is looking to enhance control, boost efficiency and simplify hotel payments, now is the time to explore what virtual cards can do for you. Contact us or reach out to your BCD program manager to get started.
