Sabre Corporation (NASDAQ: SABR), a leading technology provider to the global travel industry, and Visa (NYSE: V), today announced a partnership to support the growth of business-to-business (B2B) virtual payments in the travel industry. Under this agreement, travel buyers and suppliers will be able to pay and get paid with virtual Visa commercial cards, through the Sabre Virtual Payments solution.
Sabre’s work with Visa combines Sabre Virtual Payments with the world’s leader in digital payments. Through this partnership, Sabre and Visa’s mutual customers can access Visa’s virtual B2B payment solutions, enabling faster, more secure payment options as well as more control and visibility into individual B2B travel-industry payments.
“Bringing together Visa’s leadership position in digital B2B payments with Sabre’s virtual payment technology and global network of customers represents a tremendous opportunity to increase the adoption of B2B virtual payments in the travel industry,” said Wade Jones, president of Sabre Travel Network. “Sabre’s investment in virtual payments and its integration into existing agency processes makes it quick and easy for our customers to adopt and use.”
“Supporting the expansion of electronic B2B payments in the travel industry is one of our core focus areas,” said Kevin Phalen, global head, Visa Business Solutions, Visa. “By bringing together Visa and Sabre’s travel-industry capabilities and solutions, we will help further streamline cash flow and overall finance management practices for suppliers and buyers, helping remove barriers to transparency in business payments created by paper-based processes.”
Sabre Virtual Payments is the most flexible electronic payment solution in the travel industry, offering multi-bank, multi-card, credit and prepaid accounts that allow customers to select the best payment option to ensure the most favorable payment terms.