Virtual Cards issued on demand as part of the booking service
Surcharge avoidance by choice of scheme important
FOREX optimisation by paying in recipients currency (25+)
3-way reconciliation a critical requirement
Unclaimed hotel booking comission fees running at about 20%
OTG did not want to handle client funds so funding had to be managed separately
OTG did not want to have to become PCI compliant
cheque angle By keeping the funds with the corporate and simply give the user the right to use those corporate funds (but not to own them) for a fixed period, then the business model changes significantly.
Fraud not a major issue but a concern
This solution also works for Travel Assistance companies like AXA and whole travel Groups like Odigio and platforms like MultiComm
You may not have so many travel companies on your books but there are many industries in which high volume purchasing and the companies face the reconciliation, FOREX and fraud issues too.
Introduce the scenario
Incentivise third-party company bar staff to carry-through Stella brand values
Brand message not to be diminished by one size fits all card solution
Explain solution
Explain how in our experience with corporate clients one size foes not fit all