your opinion

What do you believe will be the biggest trend in corporate event planning over the next year?
 
What do you believe will be the biggest trend in corporate event planning over the next year?
Virtual and hybrid events
0%
Increased focus on sustainability
10%
Advanced event technology (e.g., AI, VR)
0%
Personalized attendee experiences
60%
Health and safety measures
10%
Other
20%
 
 

latest issue

Latest Issue

Benefits of Integrating Mobile Payment Platforms

Goodbye bulging wallet—and fumbling for company credit cards, itineraries and expense receipts—and hello, digital wallet

By Wendy Helfenbaum

Today, consumers rely on their mobile and wearable devices for everything, including paying for travel expenses. For road warriors, that means goodbye bulging wallet—and fumbling for company credit cards, itineraries and expense receipts—and hello, digital wallet.

Buying in
Although the digital wallet has existed for about a decade, Apple Pay’s 2014 launch was a game-changer—consumers activated one million cards to use in Apple Pay within the first three days of its unveiling. A recent report by Forrester Research predicts US consumers will increase their annual mobile spending from $52 billion to $142 billion by the end of 2019, with food services and travel services driving a big chunk of this growth.

Here’s how digital wallets work: After storing credit or debit card information on a smartphone or tablet, users at a point of sale can hold the device about an inch away from a contactless reader to complete the transaction.

Big-picture thinking
Digital wallets can radically change how CTMs operate, says Ian Knox, senior director of global product at Egencia, which offers the equivalent of a digital wallet. Getting real-time data and detailed on-demand reports lets CTMs audit spending, improve their travel programs and drive travel policy compliance, says Knox. Flexible systems enable CTMs to split up travellers and apply different policies to each group.

“When you start automating everything, you’ll get fewer errors and less fraud,” says Knox. “You also get more efficiency on the back-end in processing transactions and getting money back to travellers faster.”

Analyze this
The meta-data behind the receipts being generated by digital wallets adds more value for CTMs. Seeing at a glance which suppliers are getting your spend over time can deliver significant savings, says Knox, leading to better policy management and negotiating power with suppliers.

What’s in your (digital) wallet?
When evaluating digital payment programs, consider:

Your company culture and location. In Europe, where people are accustomed to central billing, staffers may have lower credit card limits, or work in cash-based countries. In North America, travellers typically use personal credit cards and then expense transactions.

How your travellers work with expenses. Maybe you don’t want your guest travellers—keynote speakers at your event, for example—dealing with complicated expense processes. Or virtual payments make more sense because your workforce finds cash flow management challenging.

One platform or several? CTMs may be tempted to buy different products for different uses, says Knox, so check that the tools you’re getting allow you to completely integrate data across your channels. “Ask a potential travel provider if they have the kind of functionality where travellers book and it’s seamless to them, because otherwise, you lose all the data connectivity, and your benefits start to get weaker.”

Is it simple to use? Make sure your mobile platform is user-friendly, no matter which device employees use.

other articles in this section

The Waiting Game

Q&A with Suzanne Neufang, Executive Director, GBTA

By the Numbers

Keeping Corporate Data Safe

Are Your Female Business Travellers Safe on the Road?

Flight Turbulence

What’s your Data Plan?

Get it in Writing

Follow the money

In Harm’s Way

It’s all in the timing

Covering Trouble in Paradise

Flight Plan

For Safe Keeping

Smooth Moves

On the Safe Side

At Your Bleisure

Cover me!

Uber. Airbnb. Lyft…

Q&A with Anthony Pollard

Data Dilemma

Getting on track

So Long, Swipecards

Take your Best Shot

Benefits of Integrating Mobile Payment Platforms

Trend Setter, Dorothy Dowling

Newest Cloud Technology

Is it Time to Dust Off your Corporate Travel Policy?

The Future Travel Credit Management Solution

Planes, trains and data plans

When employees fall ill on the road

Burnout Busters

The Rules of Compliance

Communal Spaces Boost Hotels' Comfort Factor

Making the most of travel and expense management systems

May the Best Vendor Win

Evaluating disaster recovery plans

On the Road Again

Hotels Taking Wellness to a Whole New Level

Corporate Travel Tracker

Controlling Corporate Travel Costs

The Anti-stress List

The Blurred Line Between Corporate Travel Manager and Planner

Big Flight Discounts for Small Businesses

Are Business Travellers Putting Corporate Data at Risk?

Timesaving Mobile App for Superior Car Service

Company Car or Driver-owned?

10 Healthy Travel Tips

Navigating Emerging Markets

Business Travel Etiquette

Rogue Travellers on Spending Sprees!

Business Travel and Health

Social Media and Travel Programs

Baggage Handler Confidential

Travel Expense Reporting

Buses Mean Business

Travel Budgets Analyzed

Q+A with Ron DiLeo

Progressive Extended-Stay Programs

Dynamic Hotel Pricing

The Perfect Travel Management Company

The Kindest Cuts

Green Businesses

Travel Policy Compliance

Car Sharing: The leaner, greener choice!

Expense Accountability

Hotel Program Success

Costly Corporate Credit Card Programs

Travel Less, Save More?

Dynamic Pricing

Travel Program Success

Meetings Abroad: Are you Prepared?

Maneuvering Through the RFP Process

Cross-Border Air Travel

Time for a Travel Policy

10 Ways to Avoid Business Travel Pitfalls

Bargaining Table Car Rental Tips for Corporate Planners

Creating Travel Policy Compliance

Sustainable Travel Tips

Crucial Travel Policy Changes to Save Time and Money

Tipping Guide for Business Travellers

Corporate Travel Policy

Passport Essentials and Other Requirements

Managing your Company's Travel Risks

Duty of care to travellers goes beyond borders