Travel expense management solutions firm American Express Global Business Travel (Amex GBT) announced that its hotel booking and payment solution Virtual Payment Expert (VPE) is now available in Hong Kong, Singapore, and Thailand.
The digital payment solution is powered by Conferma, the world’s leading virtual payments technology provider. This means that VPE is now available in 30 countries across Africa, Asia, Europe, and Australia.
Amex GBT’s product manager for VPE, Aaron Conlin, stated:
“By combining Amex GBT’s client expertise and industry insight with Conferma’s advanced digital payment technology and global network of over 90 banking partners, we are able to deliver a solution that reflects the preferences of today’s business travellers worldwide, while addressing the need for secure, seamless payment options. The continued expansion of VPE into Asia reflects our commitment to innovative financial solutions for corporate travel globally.”
Conferma’s head of commercial for APAC, Adam Williams, noted:
“The launch of VPE in Hong Kong, Singapore, and Thailand is an exciting step forward for businesses looking to simplify their travel payment management and gain more security and control over expenses. With VPE, businesses gain a powerful tool to streamline processes and access reliable, real-time data that improves day-to-day operations and supports smarter decision-making.”
What is VPE?
VPE is a hotel booking and payment solution that helps with spend control and prevents fraud and reconciliation challenges. A virtual card is used as a secure payment method for both offline and online reservations globally, which automatically becomes the form of payment during the hotel booking process.
Payments are secure and reconciled automatically using Conferma tools. VPE serves as a digital solution for companies whose travellers lack individual corporate credit cards and may book outside of the company’s preferred vendors.
Benefits of VPE
- Seamless Traveller Experience: Integrated technology allows travellers to book through their preferred channels. Support is available around-the-clock.
- Financial Visibility: Offers real-time insights into travel expenses, aiding financial management.
- Simplified Spend Management: Users can set predefined spending limits, ensuring compliance without manual authorization.
- Enhanced Security: Single-use virtual cards can be generated for specific purposes, reducing fraud risks.
- Automated Reconciliation: Simplifies expense matching, saving time on administrative tasks.
- Reliable Reporting: Real-time insights and automated reconciliation help eliminate financial reporting errors.
