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AirPlus Targets Growth in $8 Billion Business Travel Market With New Virtual Credit Card

October 19, 2015 Financial No Comments Email Email

AirPlus International, a leading global provider of payment and settlement solutions for business travel, says the launch of its A.I.D.A. Virtual Card will accelerate its growth in payment solutions for Australia’s $8 billion corporate travel market – after regulatory barriers were lifted allowing the product’s launch.

A.I.D.A. (AirPlus Integrated Data & Acceptance) is the world’s most widely used virtual credit card for business travel. Its launch follows changes to Australia’s Banking Regulations by the Reserve Bank in January, which paved the way for non-banks to become credit card issuers and card acquirers.

The A.I.D.A. Virtual Payment, works as an extension to the award-winning AirPlus Company  Account and offers increased security, efficiency and flexibility in payments, enabling companies to unlock savings, and target common problem areas such as corporate card fraud by generating single-use MasterCard® credit card numbers.

AirPlus International’s Country Manager Australia, David Newington said, “A.I.D.A.’s launch is a major milestone for our business here. It offers unique benefits to companies, and paves the way for adding other mobile and contactless procurement solutions to our product offering.

“Globally, A.I.D.A. is one our fastest growing products, with more than 3000 businesses across 189 countries using it for 1.6 million transactions last year. We expect uptake will also be strong in Australia.

He concluded, “There is nothing like A.I.D.A. in Australia right now – we will be the only supplier to directly offer a virtual credit card that is backed by a complete payments solution, and that does not require pre-funding, which is an exciting position to be in.”

MasterCard Australia SVP & Country Manager, Andrew Cartwright, said, “MasterCard is committed to developing innovative solutions that make payments simple, fast and secure for both businesses and consumers. The A.I.D.A. Virtual Payment is a fantastic example of a partnership that brings cutting-edge technology together with the security, reliability and global acceptance of the MasterCard global network.”

A.I.D.A. works by enabling corporate travel managers and business travellers to securely create single-usevirtual MasterCard credit card numbers from their desk or on the run that are accepted by any travel supplier around the world, wherever MasterCard is accepted, and that instantly reconcile expense transactions to their relevant AirPlus Company Account.

AirPlus A.I.D.A. is also supported by Conferma, which facilitates Virtual Card Number (VCN) technology in the Travel and Expense arena that can be integrated into any Global Distribution System (GDS) or booking tool.

Some of the unique benefits of the award-winning A.I.D.A. Virtual Card solution include:

A.I.D.A. instantly reconciles transactions to the relevant expense accounts

  • A.I.D.A. transactions are always company paid-transactions
  • Hotels are paid for on behalf of the traveller
  • No need to manually manage invoices or do travel expense reports. 

A.I.D.A. offers strong protection against fraud

  • A.I.D.A. is a single-use virtual credit card so there is no chance of losing it
  • Each virtual credit card number is immediately invalid after use
  • Travel policy breaches are minimised – tailored settings enable companies to restrict which merchants can be used.

A.I.D.A. works with your existing systems and partners

  • AirPlus has strong direct and partner relationships with travel industry Global Distribution Systems Amadeus, Sabre and Travelport
  • A.I.D.A. is integrated with online booking tools such as Concur, Serko Online, and AeTM
  • Every booking linked to the AirPlus Company Account is automatically covered by the AirPlus International travel insurance on their Company Account.

To see how the A.I.D.A. Virtual Payment works, please visit: https://virtualpayment.airplus.com/au-en.

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