Travelling for work should be an enjoyable experience, right? Different currencies, tracking receipts and filing expense reports is the norm for frequent international business travellers. However, simplified business travel (for example, automatically generated expense reports) is not out of reach.
Managed Travel 3.0 enters into a business travel ecosystem where corporate travellers want, and expect, to be able to manage and track all their expenses with one click and swipe – including splitting business expenses from personal expenses. This is becoming increasingly relevant with on-the-go merchandising and targeted offers.
So, how will the evolution of payments make this vision a reality? Our new video series explores the opportunities payments presents for the business traveller, the travel management company, and the corporation. Speaking to three experts, discover with us the current trends and how payments can become a smooth, transitional experience throughout the travel process.
In our first video, Ian Slater, VP Enterprise Partnerships, Mastercard, gives us insights into the world of virtual cards and the importance of data. Ian says that the embedding of the payment option within the travel experience will only continue, and that ‘tap and pay’ technology is a significant utility for travellers around the world. When it comes to virtual card technology, Ian says that it has huge benefits in the travel space as it’s better for reconciliation and is less prone to fraud, among other things.
Our second video features Chiara Quaia, Head of Business Development, Amadeus Payments. Chiara explains that current technology trends are connecting the dots, from trip selection to journey reconciliation. She also says that in five to eight years virtual card usage will surpass walking card usage.
Finally, Marcus Eklund, Global Leader at FCM Travel Solutions, provides insight from a corporation’s perspective about the advantages of implementing a new centralised form of payment.
The payments process doesn’t have to be something dealt with at the end of your journey, but rather integrated along the way through automation, so you can pay as you go. We hope these videos will help shed some light on the complex world of payments, which are a key aspect of the Managed Travel 3.0 ecosystem.