Global travel technology company, Sabre Corporation, has announced a multi-year agreement with Jazz Tech, a Brazilian financial technology company, for it to serve as the virtual card issuer for Sabre Direct Pay in Brazil.

The partnership will expand Sabre Direct Pay’s capabilities in Latin America and enable Jazz Tech to streamline its financial operations for more efficient and reliable payments to agencies and suppliers.

Virtual cards provide secure, single use payment methods for transactions which minimises fraud risks, offers detailed financial data and simplifies reconciliation. Meanwhile, Sabre Direct Pay enables Jazz Tech to streamline its financial operations for more efficient and reliable payments to agencies and suppliers.

Patricio Boccardo, managing director at Sabre Direct Pay, said of the agreement: “Sabre Direct Pay’s expansion into South America with Jazz Tech brings a fast and efficient onboarding process, enabling travel agencies to issue virtual cards and transact with suppliers seamlessly.

“The platform integrates directly into existing workflows, providing access to both prepaid and credit card options that improve payment acceptance. With automated processing and real-time reporting, agencies can enhance supplier relationships through timely, secure, and transparent transactions.”

While digital payment is becoming increasingly adopted in South America, the virtual card market has remained underdeveloped, but it presents opportunities for growth.

In 2023, the Latin American virtual cards market generated over $1.55 billion in revenue and is expected to grow at a Compound Annual Growth Rate of 21.5% from 2024 to 2030.

Incorporation of virtual cards would improve connectivity between South America and the UK and European markets by facilitating cross-border payments, encouraging collaboration, and improving the customer experience.

It would also aid travel businesses trying to tap into new revenue streams and expand customer bases.

José Roberto Kracochansky, founder and chief executive at Jazz Tech, commented: “Integrating with Sabre Direct Pay enhances our ability to deliver tailored financial solutions to the travel industry