Sabre Virtual Payments - Online Travel Agency
Reduce Fees and Increase Rebates
Sabre Virtual Payments provides better economics, more control and improved data quality, saving you time. The unique card number for each travel event provides all the transactional data managers need to significantly reduce reconciliation time.
Advantages of Using Sabre Virtual Payments
OTAs must provide a seamless customer and merchant experience, but making payments to hotels and airlines isn’t always easy or transparent. Sabre Virtual Payments can help you maximize profitability, avoid accounts payable difficulties and deliver quality payment reporting.
Boosts Cash Flow
Quicker payment process, plus pays suppliers faster, avoids late fees, builds stronger relationships and more sales
Reduced Fees
Access to a global network of banks lowers currency conversion fees and exchange rate fluctuation risks
Detailed Data
Quality payment data makes the reconciliation process less time-consuming with accurate reporting and analysis
Curbs Fraud
VCC numbers are limited by dollar amount, number of uses, precise travel dates and more for greater payment security
Secure Alternative to Traditional Payment Methods
Sabre Virtual Payments offers an integrated solution that works with industry-leading Virtual Card Number (VCN) technology, Sabre (GetThere & Sabre Red Workspace), multiple banking partners, and expense and general ledger systems.
Thanks to its network of global banks, OTAs can now significantly reduce currency conversion (FX) fees when local settlement is required. By issuing virtual cards in the merchants' currency, OTAs can eliminate unnecessary fees and exchange rate markups and potentially save up to 3% for every completed payment. Plus, the option to be billed in the same currency you are paying can help you avoid added exchange rate fluctuation risks for even greater savings.
Other ways it helps OTAs control costs: you can easily implement merchant of record scenarios for airline tickets in markets that require OTA form of payment. Additionally, it allows OTAs to eliminate direct bills with suppliers, plus provides a simple solution for allocating refunds for both air and hotel. Having the ability to easily control B2B payments simplifies supplier and vendor payment relationships, improves cash flow and ensures positive relationships.
It’s also seamlessly integrated into Sabre's workflow and connects to our expansive GDS and API travel network. Travel is booked online by a business traveler through your OTA. Previous requests for approval codes now become a request for a Virtual Card Number. A virtual card, delivering the same efficiencies as a traditional credit card, is issued based on amount, travel expiry dates and merchant category. The card features a unique card number, expiration number and CVV. Card information is then passed on to the supplier and the payment is made at time of purchase (air, rail or rental car) or time of stay (hotel).
Afterwards, Sabre Virtual Payments provides a faster automated reconciliation process that links every transaction to a specific virtual card, eliminating hours wasted on tracking and matching individual payments. In fact, a typical OTA spends 240 staff hours per week on tracking and reconciling payment processing. What's more, it offers detailed (level-3) folio data on every transaction, which enables very accurate vendor performance and agency profitability analysis for operational guidance.
Total Payment Solution Saves Time and Money
Sabre Virtual Payments secures lower total settlement costs per transaction, while reducing currency conversion fees, improves cash flow and controls merchant payments. What's more, it offers quality payment data for automatic reconciliation and reporting for detailed analysis.
To learn more about how to save time and money with Sabre Virtual Payments, contact virtualpayments@sabre.com for more information.
Interested in how Sabre Virtual Payments can drive revenue and increase efficiency, safely and securely? Fill out the from below and we will contact you shortly for more information and to schedule a demo.