RBS to Leverage MasterCard’s Conferma Partnership for Corporate Travel Card Services (Jan. 21, 2013)
Jan. 21, 2013
Edinburgh-based RBS Group and MasterCard Worldwide today announced that RBS will be the first bank enabling its global commercial card customers to integrate MasterCard’s inControl platform with U.K.-based Conferma, which provides corporate travel booking and related services for companies around the world. The service grew out of a partnership MasterCard formed in late 2011 with Conferma designed to help corporations streamline reconciliation of travel expenses.
Incorporating Conferma’s technology with MasterCard’s inControl platform enables corporate travel planners to charge each corporate travel booking to a virtual card, regardless of the travel booking platform used. MasterCard then matches billing data with travel booking data, enabling automated payment and reconciliation of travel charges. That system can accurately match travel and transaction activity so managers can easily review and manage corporate travel spending, according to MasterCard. The combined systems cut corporate card staffs’ administration time, reduce error and help corporations benefit from volume and other preferred-supplier programs, MasterCard said. The new service delivers “the certainty of 100 percent reconcilable spending information” for bank customers, said Jennifer Rademaker, MasterCard Europe’s senior vice president of core products.