Published on : Tuesday, October 31, 2017
While the fully digital solutions, such as Apple Pay and Android Pay, have been developed, they’re still used by only a small amount of business travellers. There are the lion’s proportion of business travellers, who are not using this.
According to the Global Business Travel Association Foundation about 137 U.S. travel managers earlier this year about their company policy on tour expenses for their Total Cost of Ownership – Payment Solutions report.
The corporate cards are, of course, widely used. It is about 94 percent of large companies and 84 percent of small- to mid-size companies allow them. Many travelers still pay their travel costs upfront, however with 55 percent of companies allowing customers to use their personal cards or cash.
The persistence of non-corporate methods like cash, supplier invoices, personal cards or company cash advances may reflect the prevalence of infrequent and non-employee travel said Monica Sanchez, director of research for the GBTA Foundation.
This is difficult for organizations trying to limit spending on the travel and other expenses.
There are many in corporate travel tout virtual cards as a solution for dealing with fraud, and retaining visibility into spending as it happens.
Instead of the solutions which have been adopted more often on the back-of-the-house payments end than the creation of solutions to ease this pain point for travelers themselves.