We’ve recently noted an increasing concern and awareness amongst travel buyers around the accuracy and transparency of hotel chargebacks from their travel agents. Time then for a reminder there are alternative methods, in particular virtual credit cards.
Virtual credit cards are the way leading businesses are paying for their corporate travel programs. A virtual card is a single use, digitally generated card that has a unique one-time number, expiry date and CVV. Because it uses a different number each time, booking data can be attached to each transaction. This improves reconciliation and reduces the possibility of unauthorised or inflated charges.
They are particularly popular with organisations who do not issue individual cards to travellers, or have a high dependency on contractors.
Buyers get better visibility into the hotel chargebacks, flight payments and car hire with all these expenses combined into a central consolidated account.
Concierge Business Travel has been offering this solution to its customers for several years, in fact we piloted virtual card with American Express back in 2016. If you want to discuss how they might work for your organisation and travel program then please get in touch with us. We guarantee we can give you the confidence that there’ll be no surprises in your travel billings.