Barclaycard is highlighting what reports in Buying Business Travel call the “consumerization” of business travel payments, as more corporate travelers pay the same way they do in their personal lives.
The publication said this week Barclaycard’s survey of 250 travel buyers reveals companies are looking to cater to the complex needs of “bleisure” travelers — that is, travelers who combine business with leisure while on a trip. More than 94 percent of survey respondents said they allow their workers to extend their business trips for vacation time, with the average extension being four days.
That can complicate the expense management process, as travelers mix payments for themselves and for their companies while away.
Twenty-nine percent of travel managers said they have seen an increase in requests to pay via mobile wallets, and a quarter said they have seen an increase in the number of employees looking to book corporate travel on a travel supplier’s mobile app. The rise in mobile payments and mobile booking further emphasizes the consumerization of the business travel market.
More than a third of survey respondents told Barclaycard there has been an increase in virtual cards over the last five years, and nearly half (49 percent) said the use of physical cards has also increased.
Most survey respondents also expect use of invisible payments — which involve entering in card information in a mobile app for repeat purchases later on — are likely to increase among corporate travelers.
“Today’s business travelers are blurring the lines between their personal and professional lives — not only by adding holiday days to business travel, but also in their expectations for the entire trip experience,” said Barclaycard Commercial Payments Director Maria Parpou in a statement. “As consumers become accustomed to different ways to purchase their leisure trips, including mobile and invisible payments, they expect their business travel bookings to be just as easy.”
“As this trend evolves, corporations and suppliers alike need to look at how they make and take payments,” the executive continued. “The good news is that there are already solutions available that will help businesses meet their changing needs. By taking advantage of digital payment methods, such as mobile wallets and virtual cards which are rich with data, payments can become the thread that ties each booking — no matter where or how it was made — into a complete trip. This means companies can respond to traveler demands while balancing their need for compliance and control.”