AI to Manage $700bn in Corporate Travel Spend by 2028 as Agentic Payments Rise

Businesses are preparing to hand over $700 billion in corporate travel spending to AI agents by 2028, according to new research from Conferma. This shift toward autonomous "agentic commerce" presents a significant challenge for fintech leaders, as current financial safeguards remain insufficient to manage independent purchasing while maintaining necessary corporate oversight.

What was announced

Research from global payments provider Conferma, which surveyed 600 corporate travel and finance decision-makers, indicates that AI is expected to manage or authorise 37% of global corporate travel spend within the next four years. For larger organisations with annual travel budgets exceeding $6.8 million (£5 million), this figure is projected to rise significantly, with respondents expecting AI to handle an average of 51% of their spending.

The move toward letting AI agents book and pay for employee travel independently has exposed a gap in corporate readiness. While 81% of businesses report having some AI purchasing safeguards in place, only 36% describe these measures as comprehensive. Data security remains a primary hurdle, cited as a concern by 69% of executive leaders. There is also a notable disconnect between leadership tiers regarding AI autonomy; the study found that 86% of executive leaders and department heads trust AI to manage travel bookings and spend, whereas only 62% of travel and procurement decision-makers share that confidence.

To bridge this gap, businesses are increasingly looking toward virtual cards as a primary control mechanism. Currently used by 37% of respondents for this purpose, virtual card adoption is expected to reach 48% by 2028. This represents the largest expected increase of any safeguard, as virtual cards are perceived by 30% of respondents as the most secure method for managing AI-led purchasing.

"Agentic spending authority is developing faster than the controls around it. Corporate travel could be one of the first proving grounds for agentic payments because it combines high transaction volumes, clear policies and significant spend."

Mark Ledsham, Chief Executive Officer at Conferma

The companies involved

Conferma is a global provider of virtual payment technology, specialising in the automation of B2B payment processes. The company is owned by Sabre Corporation, a leading software and technology provider for the global travel industry. This parentage places Conferma at the intersection of travel technology and financial services, allowing it to leverage Sabre’s extensive travel network while developing specialised payment solutions for corporate clients.

The company has established itself as a key player in the virtual card space, facilitating secure transactions between businesses and suppliers. By focusing on virtual card issuance and management, Conferma addresses the complexities of corporate travel, where fragmented booking systems and diverse payment requirements often lead to reconciliation challenges. In the broader fintech market, Conferma acts as a bridge between traditional banking institutions and the travel sector, providing the infrastructure necessary for banks to offer virtual payment solutions. Its role has become increasingly central as businesses seek to move away from physical corporate cards and manual invoicing in favour of more traceable, digital-first payment methods.

What FF News has reported before

FF News has closely followed Conferma’s expansion and its role in the evolving B2B payment landscape. The company recently collaborated with major financial institutions to enhance global payment efficiency, including when HSBC and Conferma Expand Virtual Card Partnership to Automate B2B Payments Across APAC. Additionally, the firm has integrated its technology with major card networks, as seen when American Express Boosts B2B Efficiency with Enhanced Virtual Card Capabilities and Conferma Integration.

Beyond partnerships, Conferma has focused on establishing industry standards for payment reliability. This includes the launch of the Conferma Debuts Industry-First Global Benchmark for Hotel Payment Performance and the associated Conferma Launches Virtual Card Performance Index to Benchmark Global Hotel Payment Reliability, which provide data-driven insights into the success rates of virtual card transactions within the hospitality sector.

What this means

The transition to agentic commerce represents a fundamental shift in the liability and control models of corporate finance. If AI agents are to manage $700 billion in spend, the traditional "approval-after-the-fact" model is no longer viable. This puts immense pressure on legacy banking systems and procurement software that cannot support real-time, programmable spending limits. The fintech sector must now pivot from simple transaction processing to providing the "control layer" for autonomous agents. The high trust levels among executives compared to procurement staff suggests a top-down push for efficiency that may outpace the technical reality of current fraud prevention and budgetary guardrails.