"Several select" U.S. Bank customers are piloting
U.S. Bank Travel VirtualPay, powered by Conferma, introduced Monday with broader rollout in the fourth quarter, officials said. The bank in May
announced a partnership with U.K.-based Conferma to develop the automated
travel billing reconciliation tool that uses single-use account numbers to
replace manual central billing of air, hotel and car charges.
U.S. Bank Corporate Payment Systems travel payment strategy
manager and vice president Mary Miklethun said pilot customers included a broad
spectrum of "Canadian and U.S.-based industrial companies, a department
store, cruise line and several public sector entities."
The technology works behind the scenes to authorize payment
via a single-use account when data required by a customer is complete. Most
importantly, the 16-digit account number is embedded in the booking to
facilitate automated reconciliation and reporting instead of the manual process
in place today in many corporations. Conferma's technology works with all major
global distribution systems, officials said. Embedding the number, Miklethun
said, "essentially provides the key to do all the matching" expected
to save clients time.
The new reconciliation tool is expected to replace a variety
of central billing methods such as "ghost accounts, agency invoices and
hotel direct bill," and provide payment solutions and necessary reporting
for infrequent travelers, contractors, recruits or other non-employees.
U.S. Bank is the first payment provider in North America to
offer Conferma's technology. Conferma also has partnered with Sabre to offer
the capability to travel agencies.