Future of virtual payment explored in white paper from BCD Travel
Research details challenges and benefits of payment solutions from a global perspective
Utrecht, the Netherlands, April 25, 2019 –Traditional payment methods for business trips are fraught with shortcomings. Companies spend 40 hours a month, on average, reconciling travel expenses and payment data according to a GBTA Foundation study. A white paper released today by leading business travel management company BCD Travel focuses on how payment automation enabled by virtual credit cards improves security, efficiency and data collection that leads to corporate travel program insights.
Payment: Virtual is Your New Reality provides actionable information travel buyers can use to make educated decisions about virtual payment options. The paper discusses:
- What you need to know about virtual cards and payment automation
- How virtual cards fit into the payment landscape
- Traditional payment challenges and benefits
- Virtual payment benefits and limitations
- How to choose the right payment option
- What’s involved in implementing virtual payments
“Travel managers looking for ways to increase traveler satisfaction while avoiding some of the pitfalls of traditional payment methods should investigate the benefits of virtual payments,” said Mike Eggleton
Senior Manager of Analytics and Research at BCD Travel. “With increasing adoption of business travel-related technology, we see ever greater numbers of corporate travel programs adopting virtual payment. Our new white paper is a good way to learn about the topic for informed decision-making.”
Payment: Virtual is Your New Reality explores five steps corporate travel programs can take to achieve virtual payment success: Select, Agree, Connect, Test and Roll out. The white paper also identifies internal and external stakeholders whose involvement is usually required to successfully incorporate virtual payment into corporate travel programs.
To view the full Payment: Virtual is Your New Reality white paper, please click here.
About BCD Travel
BCD Travel helps companies make the most of what they spend on travel. We give travelers innovative tools that keep them safe and productive, and help them make good choices on the road. We partner with travel and procurement leaders to simplify the complexities of business travel, drive savings and satisfaction, and move whole companies toward their goals. In short, we help our clients travel smart and achieve more. We make this happen in 109 countries with almost 14,900 creative, committed and experienced people. And it’s how we maintain the industry’s most consistent client retention rate, with 2019 sales of US$27.5 billion. For more information, visit www.bcdtravel.com.
About BCD Group
BCD Group is a market leader in the travel industry. The privately-owned company was founded in 1975 by John Fentener van Vlissingen and consists of BCD Travel (global corporate travel management and its subsidiary BCD Meetings & Events, global meetings and events agency), Park ‘N Fly (off-airport parking) and Airtrade (consolidation and fulfillment). BCD Group employs over 15,900 people and operates in 109 countries with total sales of US$30 billion in 2019, including US$10.9 billion partner sales. For more information, visit www.bcdgroup.com.