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Understanding virtual credit cards for travel suppliers
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Understanding virtual credit cards for travel suppliers

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A virtual credit card offers a secure payment method by which online travel agents pay their suppliers, such as hotels, car rental agencies or tour operators. …

A virtual credit card offers a secure payment method by which online travel agents pay their suppliers, such as hotels, car rental agencies or tour operators.

It provides global supplier acceptance via their existing credit card terminals (accepting MasterCard credit cards). Each authorization request is evaluated against a range of transaction controls that provides additional security, but can also generate processing complexities.

During this session we will discuss the challenges associated with authorization data processing and offer best practices to improve supplier acceptance.

Due an increase in call volume at OTA call centers, WEX uncovered several inefficiencies and challenges with system integrations between the OTAs and resorts with the VCC payment.

WEX is currently working on minimizing these challenges in partnership with our clients. During this FREE webinar, Lior Collins will provide insight on some of the interface integrations Kerzner International Resorts has implemented at Atlantis and One and Only Resorts.

Learn about Kerzner’s internal IT development of virtual card acceptance tools for the company’s property management systems.

Panelists for the webinar are:

Nicole Tackett, manager, global product and marketing, WEX Virtual
Deena Jones, senior product manager for travel, WEX Virtual
Lior Collins, director of application support, Kerzner International Resorts
Kevin May, editor and moderator, Tnooz
Gene Quinn, CEO and producer, Tnooz

Published in: Economy & Finance, Business

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  • By proactively reviewing authorization data WEX identified deficiencies with several National Hotel chain suppliers.
  • Transcript

    • 1. Maximizing virtual card efficiencies and supplier acceptance Webinar October 9, 2013
    • 2. K Kevin May Editor & Moderator Gene Quinn CEO & Producer Your hosts
    • 3. Lior Collins Director, Applications Kerzner North America Nicole Tackett Manager, Global Product and Marketing WEX Virtual Deena Jones Senior Product Manager, Travel WEX Virtual Today’s Presenters
    • 4. Maximizing Virtual Card Efficiencies and Supplier Acceptance October 9, 2013 ©2013 WEX Inc. Confidential and proprietary.
    • 5. • WEX Overview • WEX Travel: how does it work? • Integration challenges between buyers and suppliers • Integration Case Studies: Global Hotel Companies • Kerzner International Integration Case Study ©2013 WEX Inc. Confidential and proprietary. Agenda
    • 6. ©2013 WEX Inc. Confidential and proprietary. WEX Overview Nicole Tackett Nicole.Tackett@wexinc.com Manager, Global Product and Marketing WEX Virtual
    • 7. ©2013 WEX Inc. Confidential and proprietary. Who We Are
    • 8. ©2012 WEX Inc. Confidential and proprietary. WEX Global Growth
    • 9. ©2013 WEX Inc. Confidential and proprietary.
    • 10. 10©2013 WEX Inc. Confidential and proprietary. WEX Travel: How Does It Work?
    • 11. Virtual Payments Benefits • Reduction in fraud and misuse • Financial rebate incentive • Timely transfer of funds globally • Automation of reconciliation • Cost and process improvement • One-time use, secure account number • Global payment platform • Real-time processing • Transaction specific controls • Enhanced data quality ©2013 WEX Inc. Confidential and proprietary. WEX Travel: A New Approach
    • 12. ©2013 WEX Inc. Confidential and proprietary. Virtual Payments Card-less/virtual Append data • Real-time processing • Vendor notified • One-time use, secure account number • Transaction specific controls • Direct, seamless interface with ERP • Batch processing • Buyer initiated or Vendor paid • One-time use, secure account number • Transaction specific controls • Direct, seamless interface with ERP WEXCardWEXCard WEX Travel: Dynamic Payment Options
    • 13. IT Automation Benefits • WEX pioneered single-use B2B virtual card payments, 13 years experience • No upfront or ongoing fees for implementation and software • Seamless, nimble integration with existing systems via web service • Updates do not require code change • Capacity to support 24/7 environments ©2013 WEX Inc. Confidential and proprietary. WEX Travel: IT Innovation
    • 14. ©2013 WEX Inc. Confidential and proprietary. Hospitality Payment Integration Deena Jones Deena.Jones@wexinc.com Senior Product Manager WEX Travel
    • 15. Complex Hospitality Reservation Network ©2013 WEX Inc. Confidential and proprietary.
    • 16. • Each distribution channel integration creates potential VCC* processing challenges and reservation discrepancies • GDS* and reservation systems do not have a standard field to identify single use virtual card vs. physical card payment type ©2013 WEX Inc. Confidential and proprietary. Integration: Complexities & Challenges *VCC-Virtual Credit Card *GDS- Global Distribution System
    • 17. • Proactively review authorization data by hotel chain to identify trends • Evaluate customer (OTA’s and travel companies) call center volume and/or call reason to identify potential integration issues • Conduct deeper analysis to identify source issue • Develop resolutions for improved efficiency ©2013 WEX Inc. Confidential and proprietary. WEX’s Initiative to Drive Efficiency
    • 18. Trend: • Authorization declines across hotel chain Analysis: • Revealed that PMS* was attempting the authorization of WEX account multiple times between reservation creation date and check-in date. Solution: • Worked with the hotel chains on PMS changes to be implemented at the hotel properties Results: • OTAs and travel companies saw a reduction of false/positive alerts on decline authorizations • Hotel suppliers experience reduction in declined authorization attempts ©2013 WEX Inc. Confidential and proprietary. Case Study #1: Authorization Data Trends *Property Management System
    • 19. Trend: • Significant increase of call center call volume noted by particular Online Travel Agency from a specific hotel chain Analysis: • Identified authorization attempts for incidentals were being attempted • Authorization code was not available when posting transaction Solution: • Aligned with hotel supplier on operating procedures for non-compliant properties Results: • Reduced call center costs and declines Case Study #2: Increased Call Volume
    • 20. ©2013 WEX Inc. Confidential and proprietary. Hotel Case Study Lior Collins, Director Applications
    • 21. • Kerzner has its own proprietary Central Reservations System which powers its call center (Chameleon) and Booking Engine (branded websites) • Integration platform developed with many systems such as the GDS* and partner systems • Kerzner integrated with three large travel partner systems (Expedia, Synxis, and HBSi to ensure efficient and real-time ARI (Availability, Rates, and Inventory) and Reservations process • The reservations process also integrates into a Revenue Management System thus allowing for optimization of rates, etc • Alleviating the manual processing of inventory distribution and manual reservation entry allows for fast, reliable, and last minute reservation capabilities ©2013 WEX Inc. Confidential and proprietary. Kerzner Case Study
    • 22. Profile Routing: Based on the OTA profile associated to reservation Kerzner has taken advantage of the Property Management System integration for separate folios System Configuration Settings/Mapping Tables: Where necessary, mapping and configuration allows for handling of unique or complex reservation rules (reservation statuses, guarantee types, payment rules, etc) Real time ARI and Reservations: The goal is to always serve up last-minute availability and rates to our partners to ensure they have ability to sell us at all times ©2013 WEX Inc. Confidential and proprietary. KCRS* Kerzner Central Reservation System Custom Integration Efficiencies
    • 23. • Simplified processing of OTA/partners financial responsibility upon creation of reservation via interface • Complete end-to-end testing…when a new travel partner is added full testing of reservation including validation in Central Reservation System and Property Management System • Less work for AR team on property as they are able to have settled folios prior to checkout – no AR cycle/management. ©2013 WEX Inc. Confidential and proprietary. WEX Travel: Successful Integration
    • 24. • Guaranteed payment • No need to invoice travel companies • Faster payment of receipts • Global payment platform • Simple and intuitive for staff to process payment • No hardware/software installation ©2013 WEX Inc. Confidential and proprietary. WEX Acceptance Benefits for Kerzner
    • 25. Thank You! Nicole Tackett Nicole.Tackett@wexinc.com Manager, Global Product and Marketing WEX Virtual Deena Jones Deena.Jones@wexinc.com Senior Product Manager, Travel WEX Virtual WEX Virtual We see corporate payments differently ©2013 WEX Inc. Confidential and proprietary. Lior Collins Lior.Collins@kerzner.com Director, Applications, Kerzner North America
    • 26. K Q & A
    • 27. K Thank You! Replay and presentation from today’s webinar will be available at www.tnooz.com Please send your questions to kevin@tnooz.com