Commercial payment is a pillar of travel procurement and management. Whether using centralized billing accounts, travel and entertainment corporate cards, hotel billback or newer solutions like virtual cards, it’s all about convenience and data.
AirPlus International and Cornerstone Information Systems are working together on virtual card programs. According to an AirPlus official, the companies are piloting with select customers back-office integration through Cornerstone’s iQCX system. The official said clients would not need a virtual payment intermediary like Conferma. AirPlus first brought its virtual payment solution to the U.S. market…
[UPDATE, Jan. 9, 2019: The airline working with ARC and Blockskye is United Airlines. Find more information here.] Blockchain startup Blockskye is running a proof of concept with the Airlines Reporting Corp. and also working with an unnamed airline and Fortune 100 corporate account to build a robust direct-booking and payment program. Blockchain would not enable…
UATP for the first time will allow travel management companies to issue their own payment accounts. The program is starting in the United States as a means to accelerate UATP’s growth in the market. The payment network expects to announce the first TMC issuers later this quarter or next. UATP is a payment plan created…
Conferma relaunched its TripPay Android and iOS mobile app with a new name and some new features. Now called Conferma Pay, it is “the first app to support creating and receiving of virtual cards for business on a mobile device across multiple banking partners,” according to the company’s website. As with pre-existing virtual cards, the app…
Online payments company Stripe announced Stripe Issuing, a platform for creating and managing physical and virtual cards. This includes creating “employee expense cards with dynamic spending limits.” Physical cards “can feature customizable designs, and ship in a few days,” according to a Stripe blog post. Virtual cards “can be used instantly through mobile wallets.” Admins…
A Connecticut woman this week pleaded guilty to embezzling more than $1 million from her company during a three-year period to 2016 by exploiting payment and expense reimbursement processes. As much as business leaders would like to trust employees, preventing them from stealing is a big reason to have travel and expense management. Despite corporate…
A group of large travel management and commercial card entities is attempting to get answers from European regulators on a set of rules that could disrupt traditional corporate travel payment practices. Under Europe’s second Payment Services Directive, payment firms by September 2019 must implement strong customer authentication (SCA) for purchases made in European Union states…
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