MANCHESTER, UK and BLOOMINGTON, IN, USA (November 15, 2016) – Conferma, a leading FinTech company specialising in virtual card technology, has partnered with CornerstoneTM Information Systems to extend Cornerstone’s unique AutoPay solution. The partnership will enable Cornerstone, a leading global travel technology and services provider, to offer its customers credit-based virtual payment solutions for the first time.
Conferma and Cornstone have partnered because their complementary products create a powerful automated payment solution. Cornerstone’s AutoPay enables the operationalization of virtual payment while Conferma has built an unbridled network of banking partners globally.
This partnership creates a seamless automated GDS agnostic solution that is completely integrated into the agency workflow. Cornerstone’s integration into the front-end agent desktop across all major GDSs complements Conferma’s aggregated back-end payment services to create an unparalleled end-to-end automated payment solution. This complete solution allows for the generation of both prefunded and credit based virtual cards within the agent workspace without any changes to their normal booking workflow.
The partnership will also connect Cornerstone’s clients to Conferma’s vast payment ecosystem which supports virtual cards issued in 40 currencies across 193 countries. With a choice of over 25 major card issuing companies and key local names, this partnership gives travel management companies the flexibility to work with their corporations to deliver tailor made virtual payment solutions.
“Our customers have enjoyed the benefits of virtual payment since we introduced AutoPay, and we are committed to enhancing the solution with additional payment options,” says Mat Orrego, CEO of Cornerstone Information Systems. “Conferma’s extensive payment infrastructure allows us offer a more flexible solution to travel management companies that enables them to provide their corporate customers with more payment options.”
Simon Barker, CEO of Conferma adds, “We share Cornerstone’s passion for more efficient corporate travel booking processes, and our combined knowledge and networks within the travel industry makes this a very valuable partnership. Conferma`s credit funded virtual cards and our ever expanding issuing network are ideal for Cornerstone’s TMC and larger corporate travel buyer clients.”
Conferma is a leading FinTech company specializing in Virtual Card technology. A global company, managing transactions in 96 currencies in 193 countries, Conferma is headquartered in Manchester, having been founded by CEO Simon Barker in 2005.
With 80% of Buying Business Travel’s Top 50 TMCs using Conferma, it is an industry standard for corporate travel payment. Conferma’s Virtual Card technology is mainly about simplifying over-complicated processes in Travel and Expense (T&E) payments. It is the gateway between commercial card issuers and the travel community.
Conferma’s many established travel partners include all three Global Distribution Systems (GDS), Sabre, Amadeus and Travelport; leading corporate Travel Management Companies (TMCs) such as CWT, HRG, AMEX GBTA; online booking tools and other booking technology providers. Part of Conferma’s ecosystem are all major card schemes, American Express, Diners, MasterCard and Visa, and over 25 commercial card issuers globally including Barclaycard, Bank of America and Citi.
Cornerstone™ Information Systems is a global technology and services provider that has a unique domain knowledge in the travel industry, from how travel is operationalized to how information is managed. With a foundation in automation, we design, build, and deliver technology for travel companies and corporate buyers. We help our partners manage their process and information, to drive better decision making. Cornerstone has a single focus on travel data from the management of the reservation to the creation and presentation of information. The result is higher quality customer service and nimbler operational responsiveness at a lower cost with fewer resources yielding higher profit. We are people-centric, service-focused, and technology driven.
Companies managing more than $25 billion in travel spend annually trust Cornerstone to help them proactively lower the costs of travel management and drive revenues through travel optimization. Founded in 1992, Cornerstone Information Systems is a privately held company headquartered in Bloomington, Indiana with customers in more than 50 countries.
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