The growing importance of cashless payments for business travellers

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2018 may be the year in which Travel Management Companies (TMCs) that have not yet fully embraced cashless payments to take the plunge, as customer demand is increasingly starting to make this a necessity.

A new report from Barclaycard has shed light on this trend after surveying 250 travel decision-makers, with the results revealing that 29 per cent of travel managers have seen a rise in the number of requests to pay via mobile wallets over the last year, while 26 per cent have seen an increase in bookings via a supplier's mobile app.

Meanwhile, 37 per cent noted a rise in the use of virtual cards over the past five years and 49 per cent the use of digital or mobile wallets trending upwards. This may be due in part to the growing 'bleisure' travel that is becoming commonplace meaning travellers are now after more flexibility - indeed, 94 per cent of decision-makers say their company now allows employees to extend their business trips with a few days of leisure.

The report also indicated that these trends are unlikely to abate soon, with 66 per cent of buyers anticipating the use of mobile wallets will increase over the next five years, while
58 per cent will see an uplift in the use of 'invisible payments' - where users enter their card details into an app once for repeat purchasing - over the same period.

Maria Parpou, director of Barclaycard Commercial Payments, said: "Today's business travellers 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.

"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."

By automating your mid and back-office systems with ProTAS, your TMC will be better positioned to keep pace with the latest tech advances. Contact ProCon Solution now to find out more.

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