Considering virtual payments for travel? Here’s who needs to know

Get the right buy-in for VPA.

Adding virtual payment automation and virtual credit cards to your corporate travel program offers plenty of benefits, especially if your company has a lot of travelers without corporate cards or sends travelers to countries where credit card fraud is especially high.

But a virtual payments strategy also has far-reaching operational effects. Here’s a look at whom you should talk to before you implement virtual payments — and some of the things they’ll care about.

Internal stakeholders

  • Finance and tax: Costs, expense documentation, data collection and reconciliation
  • Human resources: Traveler safety and satisfaction
  • Security: Data protection and traveler safety
  • Information technology: Alignment with existing applications and data protection
  • Travelers: Ease of use, participating suppliers

External stakeholders

  • Travel management company: Savings, alignment with GDS, integration into existing booking processes, data collection and reconciliation
  • Card issuer: Desired markets for virtual credit cards, integration into existing booking processes (It’s worth noting that BCD Travel’s Virtual Payment Automation solution, powered by Conferma, allows customers to use their normal card issuer without process disruption. This isn’t always the case with other solutions.)
  • Suppliers: Start date and initial markets
  • Online booking tool provider: integration into existing booking technology

Feedback from stakeholders provides a view into the companywide pros and cons of virtual payments. If you decide to implement virtual payments, the knowledge gained can help you avoid pitfalls and better ensure you have buy-in that enables success.

Learn more about how virtual payment automation works and download BCD Travel’s whitepaper A Virtual (Payment) Reality. Then ask your account manager for more details.

 

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