Technology

Troovo awarded US patent for virtual travel payments tech

Troovo Technologies has announced it has been granted a US patent for its virtual travel payment offering.

The Australian-based company’s patent covers the ability to utilise robotic process automation (RPA) technology rather than a person to analyse a travel booking and generate a virtual credit card based on the data in the booking.

CEO Kurt Knackstedt noted that, unlike Troovo, other virtual payment generation products require some form of manual intervention, validation or user interface in order to facilitate the creation of the card, as well as updating the booking record with card details.

“This has always been a significant impediment to the adoption of virtual cards at scale, given the immense cost (in both operational and per-card terms) of other solutions,” he said.

“Troovo has removed the cost and quality issues that come with manual card generation and is the only solution available in the market that truly enables 100 per cent virtual card generation 100 per cent virtually.”

Image: iStock/alengo

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