American Express Global Business Travel on Friday announced that it would offer 15 percent of its shares to the public via a merger with special purpose acquisition company Apollo Strategic Growth Capital. Expected to close during the first half of next year, the deal values Amex GBT at roughly $5 billion, would generate up to…
People share a lot of personal information through digital channels, and the entities they interact with access more of it than they need. Individuals have little control over the transmission of their data and who gets what. The concept of a decentralized, self-sovereign identity fixes that while addressing cybersecurity and streamlining processes. A self-sovereign identity…
The innovation in virtual payment is clear, as are its challenges. New standards hold some promise for a primary use case, lodging, but have a ways to go. A Hotel Electronic Distribution Network Association and Hospitality Technology Next Generation joint task force has been working on specifications under the Open Payments Alliance umbrella for a…
Automaker General Motors is shooting for a “world-class travel and expense operation” after this year bringing SAP Concur’s Travel to 19 countries and Expense to 29. While the travel management program is decades old, the $123 billion company had not quite established its travel and reimbursement processes across all markets with employees. With that and…
The sharp increase in U.S. merchant contactless payment capability during the pandemic is increasing the appeal of virtual payment by tackling one of its many challenges. For all their well-documented strengths in terms of controls, fraud prevention, data quality and velocity, compliance, reduction in manual processes, ease of distribution and support for infrequent travelers, virtual…
A decision by SAP Concur to discontinue a couple of its products sooner than previously scheduled could leave some of its clients in the lurch. SAP Concur confirmed last week that it accelerated the retirement date for its Expense Pay Classic solution and the Invoice Pay ACH feature of Concur Invoice, to Jan. 1, 2022….
The largest player is after the market’s smallest accounts, which by many accounts are leading the business travel recovery. Continuing a customer segmentation strategy, American Express Global Business Travel last week brought to the United States an employee spend management solution for small and medium-sized enterprises first introduced last year in the United Kingdom. With…
