Mastercard is planning to make a minority investment in Conferma Pay, a fintech company acquired earlier this year by Sabre Corporation.
The new partnership with Mastercard will allow Conferma Pay to expand the use of virtual cards for business-to-business travel payments.
Sabre acquired Conferma Pay for $72.5 million in August 2022, according to a filing in September with the U.S. Securities and Exchange Commission.
UK-based Conferma Pay provides software and commercial deals to help the travel industry move to virtual cards, through which account information is issued for one-time use in an effort to shield the buyer’s identity when making online purchases and prevent fraud. Virtual cards also allow travel buyers and…
