After several delays, India’s central bank this fall enacted payment security rules prohibiting the storage by merchants of customers’ credit card details. Instead, digital tokens would stand in. Not entirely ready, the travel industry got an extension, to June 2024, to work out how to use tokens when intermediaries like GDSs, TMCs and OBTs are…
There are a few ways to talk about business travel’s prospects. Some news articles quote sentiment surveys — do business folks plan to travel more or less, spend more or less on trips, loosen up on restrictions? Some highlight mid- to long-term forecasts by economists and the like. Many discuss uncertainty, but booking trends have…
Travel demand remains strong but there are some signs of a cool-off in corporate travel. Nevertheless, buyers should not expect the sting to come out of travel prices anytime soon as supply and demand remain out of whack. According to American Express Company, after domestic U.S. consumer travel surpassed its pre-pandemic level in the first…
Not yet three years old, New York-based Ramp Business Corporation last month confirmed new financing of $750 million at a valuation of $8.1 billion. It announced that more than 5,000 businesses were on its platform, which “is powering over $5 billion of annualized payments volume.” It’s a tech firm that offers payments rather than a…
If you tuned in to an American Express Company investor call six years ago, you heard about a vintage brand dramatically cutting costs to help profits. Now, strong growth with younger generations and a significant lead over competitors in the small and medium-sized enterprise card market have Amex predicting double-digit revenue growth for the foreseeable…
U.S. Bancorp’s acquisition of expense management software builder and travel agency TravelBank culminates a series of investments to build integrated business software and services, accelerate midmarket demand for banking and payments, and fend off financial technology firms. Banks traditionally picked up small business clients through lending and banking, but a digital revolution has changed that,…
New York – Spotnana officials have been calling it the AWS of travel, but the reference only gets you so far outside tech and investment circles. Concepts like open stack and microservices help a little. In corporate travel, though, people want to know whether you are attempting to be a GDS, an OBT, a TMC…
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