Conferma Pay currently owned by Sabre

Payments company Conferma Pay has been acquired by Sabre at the beginning of this month.

The decision has been made as, according to Conferma Pay interim CEO and ex-Sabre EMEA senior vice president Martin Cowley, the industry experiences “the midst of a revolution.”

“Having partnered for many years, both Sabre and Conferma Pay acknowledge the changing landscape and the need for significant technology investment in the B2B payment space. This is why Sabre will be acquiring Conferma Pay to help it advance virtual card payments in travel and lay the foundations to develop technologies that enable the future B2B travel payments.

“By combining the travel industry expertise of Sabre and the payment expertise of Conferma Pay, we believe we can continue to offer a strong value proposition for travel agencies. [...]

“This acquisition will enable Conferma Pay to evolve the skills and technologies of both organizations to develop enhanced payment solutions, which address gaps and expand opportunities for optimized sales in the B2B travel space”, commented Cowley.

The acquisition aims to boost both visibility and number of users for Sabre Virtual Payments service, as well as promote secure payments and enhance overall financial productivity.

Conferma is a payments company established 17 years ago by Simon and Jim Barker. Since it has been founded back in 2005, Conferma has managed to connect over 700 travel management companies with the global distribution network via more than 100 online booking tools. Sabre and Conferma started the first collaboration in 2011, with the debut of the Virtual Payment service for Hotel Settlement, and continued with the launch of the air booking payments system at the end of 2016.

Conferma also signed a partnership with Visa two years ago and an agreement with the GlobalStar TMC network in 2021. The company also recently announced a new project in collaboration with Thrust Carbon, focusing on solutions assessing the environmental impact of business travel measured with the help of virtual payment cards.

 

Source: businesstravelnewseurope.com