Wirecard’s Supplier and Commission Payments (SCP) product is an automated solution for processing international payments. Based on the virtual credit card technology, it allows companies from a range of industries incuding tourism and procurement to be much more cost-efficient and flexible.

International money transfers, particulaly those between agents such as online booking websites or travel agencies and services providers such as hotels, airlines or car rental companies, are one of the key challenges for the tourism industry. These days, money flows between the parties involved in a booking are usually part of a highly complex process requiring the use of a corporate credit card or costly international transfers (SWIFT). The subsequent manual reconciliation of bookings and payments is another labour-intensive and error-prone process.

This is where the SCP solution comes into play: for every booking the system generates a virtual credit card. This is done either manually or via an automatic interface. At the agreed payment time the hotel or airline will charge the relevant amount to the credit card. The amount due will be the card’s exact credit limit. SCP thus provides automated control over amounts and due dates while enabling automated reconciliation with a clear allocation of each individual transaction.

“The only thing we don’t do is print a plastic card, but other than that the process is exactly the same as with conventional credit cards”, says Wirecard manager Jörg Möller explaining the advantages for travel agents.