Troovo: Virtual Payments. Virtually Free.
Significant part of the cost overheads for corporate travel is associated with reconciliation of travel expenses incurred on central billing accounts. Virtual Credit Cards solve this problem by creating single-use credit card numbers which are a 1:1 match between the payment and the trip (or a component of the trip: e.g. a hotel stay).
The traditional virtual card process requires an agent to determine that, based on often-complex corporate policies, a virtual card is required. The agent manually creates a virtual card, with the correct spending limits based on those same complex corporate policies, using card issuer's web portal or an expensive tool integrated into their GDS desktop and then assigns it to the booking.
Similar user-driven process is required when a traveller creates the virtual card in the online booking tool.
Troovo Payments automates the process by integrating directly into the agency's global distribution system (GDS) after the booking has been made, but prior to the rest of the agency's fulfilment processes kicking in.
After agents (in GDS) or travellers (in OBT) create a booking, Troovo's intelligent robotics:
- Analyse the booking to determine if virtual cards are required for different components of the trip
- Create virtual cards with the correct spending limits based on the corporate's (or agency's) policies
- Notify the suppliers to use the virtual card for the payment (e.g. airlines through the GDS or hotels through direct notifications)
- Update the GDS booking with the new payment information and queue it for further processing
To view the walkthrough of the Troovo Payments system, please visit our demo site: https://www.troovo.com/demo/