Taking the Pain Out of Payments in Corporate Travel

When traveling for business, you want to focus on work. The last thing you want to do when you check out of a hotel is save and organize a lot of paper receipts or pull out your own card to pay for incidentals.

Yet stresses around payment during business travel are unfortunately typical. In fact. 34% of business travelers said having to use their personal card is a common issue. Meanwhile, the COVID-19 pandemic and the associated hygiene implications have brought increased scrutiny around physical payment transactions, helping usher a move toward virtual or contactless options.?

I asked Raj Singh, founder and CEO of Go Moment, for his take on how this shift is affecting the travel industry. “There has been significant growth in travelers looking to spend more money with hotels, restaurants, and other attractions via their mobile devices,” he says.

Fortunately, the evolution toward contactless, automated, and secure payment is well underway, and I’m proud to say that HRS is playing a part: our Invisible Pay solution is used around the world today by business travelers from a broad range of Fortune 500 multi-national companies.?

Innovations and Advancements in Business Travel Payments

Companies around the world are joining the movement. Driven in part by the COVID-19 crisis, the entire travel industry is pivoting to take advantage of capabilities in automation and secure data flow that will create better payment experiences for business travelers — and also benefit suppliers and corporate travel managers. “Guest engagement and payment technologies evolved quickly in the contactless pandemic environment,” Raj notes.

Emerging contactless payment solutions include virtual cards, mobile wallets, and other convenient touchless options across a range of channels.?

“Payment links and QR code-driven payments are two of the most promising innovations that have caught on in a big way in the corporate travel experience,” according to Raj. “Payment links are lightweight and versatile since they can be delivered on any communication channel, including text messages and WhatsApp.”

Other solutions are more integrated within the overall business travel ecosystem. For example, HRS’ Invisible Pay platform streamlines and automates the invoicing and expense-reconciliation process, providing a safe and accurate centralized payment solution for business travel.?

Looking Ahead: The Future of Payments in Travel & Hospitality

As we peer into the years ahead, there are a few signs of what we might expect as far as coming innovations in digital payments. Convenient options will continue to be in demand, but concerns about fraud will be a pain point. Biometrics represent one solution that’s already been implemented in some mobile apps, and they may be put into use more widely, replacing PINs and passwords. The use of wearable devices is expected to grow, negating the need to carry a physical wallet and eventually, perhaps, even a mobile phone.?

However the future plays out, one thing is for sure: virtual payments will play a big part in corporate travel, according to the Global Business Travel Association. Corporate travel departments and the hotel industry are compelled to start offering contactless options now — and focusing on phones is a good start.?

As Raj puts it, “Enabling travelers to get information and pay for anything via mobile phone is safer, more convenient, and a trend that is here to stay.”