News Release: Troovo Technologies awarded US Patent for system and method for facilitating travel payments

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FOR IMMEDIATE RELEASE:
13 January 2020

 

Sydney, Australia — Troovo Technologies, the world’s only fully robotic platform for virtual processing of travel and B2B payment transactions, announced today that is has been granted a US patent (number 10,528,895) for Troovo’s revolutionary technology for virtual payments in travel.

Troovo’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. In simple terms, Troovo does the work that people currently need to do when it comes to payments: using information contained in the booking to subsequently generate a virtual credit card and update the booking with those card details – all with absolutely no human intervention.

Troovo CEO, Kurt Knackstedt, said, “the ability to use RPA for virtual card generation has always set Troovo apart from the rest of the industry. All 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. 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% virtual card generation 100% virtually.”

Troovo developed this capability having recognised that the payment industry lacked a truly touchless, completely virtual and easily integrated capability for driving virtual card adoption. This patent validates the intelligent manner in which Troovo leverages RPA to solve difficult transactional processing challenges, and also acknowledges the clever use of RPA technology that is unique to Troovo.

 

About Troovo

Troovo makes travel and payment transaction processing entirely virtual with Robotic Process Automation (RPA). The RPA software that Troovo offers provides a highly secure and globally scalable way of processing travel and payment transactions. Troovo’s core customer base are high volume transactional operations which see the benefit of using sophisticated yet easy-to-deploy robotic solutions. Troovo’s customers include travel agencies and travel providers, enterprise platforms, financial institutions, fin-techs, and corporate procurement organisations. Troovo is a completely cloud-based, SaaS platform, and is an Australian company with offices in Sydney and Melbourne.

 

More information is available on our website: www.troovo.com or contact us: automate@troovo.com