HRS is expanding its network of issuers with which it can offer virtual payments through a program with Mastercard, which itself announced an expansion in recent weeks, according to HRS VP of payment consulting Alex Olsen.
Mastercard in April launched a program through which banks using its Virtual Card Number technology could more simply embed the technology in third-party systems including HRS. That enables HRS to issue virtual payments from any of the more than 90 issuers in the program through a single integration with Mastercard, rather than having to do an integration with each individual bank, Olsen said.
The program opens the door for HRS to work with banks beyond such major global payment players as American Express, Citi and AirPlus for virtual payments, especially for clients that are working with global banks but also using local issuers in specific regions. Individual integrations with such banks would be too labor-intensive, he said.
"It's a heavy burden, because there's a lot of investment, a lot of development and also all the due diligence we have to do for the bank," Olsen said. "This removes 90 percent of it."
In particular, the program "opens non-core markets for us a little more," such as in Latin America, India and elsewhere in Asia, he said.
HRS has begun working with key issuers to onboard clients via the platform, he said. The company expects the first transactions to begin early next year.
"We want to be ultimately agnostic across any network, any payment provider," Olsen said. "We want to be able to facilitate a payment for our hotel, meetings or workforce technology that's seamless and frictionless for the traveler."
Mastercard earlier this month announced it was expanding on its VCN program, with integrations including such platforms as SAP Concur, Grasp Technologies, SAP Taulia, Pay4You and Kresus.