Payment options exist everywhere I go and seem to be changing all the time. One day I am in the grocery store and the chip reader is covered because its not working, the next day, it's alive and well and that annoying sound is heard loud and clear. At Starbucks I can pay using my app or Apple Pay. At the airport, I can pay for a meal using my frequent flyer miles. I can check into a hotel with a virtual credit card picture on my phone, but ideally, they already have that number and I simply smile and get my room key. I can buy and sell items online using a service like Pay-Pal.
Yesterday, I read something about how Amadeus is improving their virtual payment solution. This made me think about the broad spectrum of companies with virtual payment options. The obvious is banks and credit card companies...well duh! To that, you add can GDS's, TMC's, expense solutions and a number of new entrances who are trying to make payments simple.
The draw for managed travel is improved policy compliance, ease of use for travelers, decreases in credit card fraud instances and improved expense/reconciliation processes.
The challenge for managed travel is moving the massive payment ship. Internal systems are using traditional credit card data. Reconciliation processes are set up to manage those card swipes instance by instance.
Payment is the next frontier of change. The trade of dollars and cents is making dollars and sense for a variety of companies. If we are trying to make the lives of the travelers like their everyday lives, payments just make sense or cents...however you want to look at it. Change is coming, keep going. (Did you catch the pun there?!)
Yesterday, I read something about how Amadeus is improving their virtual payment solution. This made me think about the broad spectrum of companies with virtual payment options. The obvious is banks and credit card companies...well duh! To that, you add can GDS's, TMC's, expense solutions and a number of new entrances who are trying to make payments simple.
The draw for managed travel is improved policy compliance, ease of use for travelers, decreases in credit card fraud instances and improved expense/reconciliation processes.
The challenge for managed travel is moving the massive payment ship. Internal systems are using traditional credit card data. Reconciliation processes are set up to manage those card swipes instance by instance.
Payment is the next frontier of change. The trade of dollars and cents is making dollars and sense for a variety of companies. If we are trying to make the lives of the travelers like their everyday lives, payments just make sense or cents...however you want to look at it. Change is coming, keep going. (Did you catch the pun there?!)
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