American Express and Conferma team up to deliver simplified digital payments to corporate travel

New partnership will see American Express vPayment™ integrated with Conferma's network of travel partners

TORONTO, March 15, 2018 /CNW/ - American Express Canada and Conferma – a FinTech company specializing in corporate travel payments – have teamed up to bring the power of digital payments to businesses with American Express vPayment™. This new payment solution will help make it easier for companies to make reservations, book travel, pay suppliers, and reconcile costs.

To help simplify corporate travel bookings, American Express has partnered with Conferma to bring the payment technology to the Conferma platform who integrates with preferred travel providers, travel management companies and global distribution systems (GDS) to bring robust travel data to customers.

This partnership enables the generation of a specific-use account number within the booking platform to pay travel suppliers. The unique account number is tied to one travel reservation and is used to match the reservations information to the supplier payment and support reconciliation to cost centers, departments and projects.

"At American Express, we want to be a strategic partner for Canadian companies, and one way we are doing that is with American Express vPayment, which is helping to streamline corporate travel efforts, while minimizing costs and opening up new opportunities for growth," said Paul Roman, Vice-President and General Manager, Global Commercial Payments at American Express Canada.

Simon Barker, Conferma's CEO also commented: "We are delighted to be working in partnership with American Express to help bring this innovative product to customers. As a company, we continue to push the boundaries within the virtual payment sector to bring about greater efficiencies for businesses."

"We know that Canadian companies spend a significant amount of time and money managing expenses, however thanks to American Express vPayment, businesses have the chance to start identifying efficiencies and cutting corporate travel costs without scaling back."

For more information on American Express vPayment, visit: https://business.americanexpress.com/ca/payment-solutions/vpayment

About American Express Global Commercial Payments

Through its Global Commercial Payments division, American Express offers a suite of payment and lending products that help businesses and organizations of all sizes gain financial savings, control and efficiency. Global Commercial Payments provides solutions for travel and everyday business spending, cross-border payments, global currency solutions, and business financing.

To learn more about Global Commercial Payments, please visit business.americanexpress.com/ca.

About Conferma

Leading UK FinTech company, Conferma, is the world's foremost provider of virtual card technology. Founded by CEO Simon Barker in 2005, Conferma combines innovation and expertise to consistently find success when they push the boundaries of what can be achieved in the world of virtual payments.

Conferma connects issuers to more than 400 travel management companies, all five major global distribution systems and more than 70 corporate booking tools. Conferma is fully integrated with all the major card schemes and serves more than 30 banking partners, who have issued Conferma-generated virtual cards in 96 currencies across 197 countries.

For more information, please visit: www.conferma.com.

SOURCE American Express Canada