Conferma, a global leader in virtual payment technology, has today announced a new strategic partnership with Fintua, (formerly Taxback International), a leading global provider of tax technology solutions. This collaboration is set to revolutionise how businesses manage and reclaim VAT, or similar goods and services taxes on corporate travel expenses, unlocking a significant and often overlooked revenue stream.

Every year, businesses miss out on millions in unclaimed VAT incurred from corporate travel expenses. With up to 27% of hotel spend potentially recoverable, the partnership between Conferma and Fintua offers a seamless, fully automated and compliant solution to reclaim these funds – with no additional administrative burden.

“This partnership with Fintua is the latest milestone in our mission to automate and simplify corporate travel payments,” said Jason Lalor, CEO at Conferma. “By integrating VAT reclaim into our virtual card infrastructure, we’re not only helping businesses recover significant costs - they’re doing it effortlessly, without changing how they pay. It’s another step toward making travel spend smarter, simpler, and more transparent.”

“At Fintua, our mission is to simplify and automate VAT recovery for businesses worldwide. This partnership with Conferma brings together two leaders in financial technology, enabling companies to effortlessly unlock new revenue streams and focus on what matters most—growth and innovation." said Joe Healy, Chief Growth Officer at Fintua. "By combining our VAT expertise with Conferma’s virtual payment infrastructure, we’re delivering a seamless, compliant, and truly global solution for reclaiming VAT on travel spend.” 

Unlocking a tax reclaim revenue stream

Current tax reclaim processes are manual and time consuming for businesses, with missing invoices and non-compliant receipts often hindering efforts. Additionally, for large organisations with significant global travel programmes, the regulatory systems across multiple jurisdictions can be highly complex to navigate.

Now, businesses can benefit from a fully automated process that offers:

• Automatic invoice collection – Hotel invoices are automatically collected, corrected and broken down as part of Conferma’s automated reconciliation service when virtual cards are used.

• Compliance and accuracy – All invoices are reviewed to ensure they meet VAT reclaim requirements.

• Global coverage – VAT recovery is supported in 180+ countries.

The process is simple – corporates pay for their hotel booking with virtual cards, Conferma collects, corrects, and breakdowns the invoices, and Fintua handles the compliance and reclaim process. The result is a streamlined, efficient system that delivers real financial returns.