Survey: Business Travel Leading the Way on Payment Tech
Virtual payments are becoming more popular
If there’s an area where the travel world moves faster than the business world at large, it might just be payments.
That’s a new finding from survey results released by the Global Business Travel Association, in partnership with AirPlus International. GBTA finds that more than half of U.S. travel buyers (56 percent) use central travel accounts, a form of virtual card that is used for multiple travel workers.
But there’s still plenty for more sophisticated travel card uses. Just 11 percent rely on single-use cards, a single-transaction card type that tends to be used for hotels and comes with spending limits. Despite the fact that the format is likely to grow in prominence in future years (with 23 percent of respondents saying they’re likely to adopt them), there are a number of concerns around administration, supplier acceptance, and control that have led travel programs to avoid their use.
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