Mobile payments offer potential to change business expenses. As soon as the necessary technology is widely available, both business travellers and travel managers will benefit from the advantages of mobile payments including timesaving with faster payment options at cash desks or ticket machines and less time with accounting.
Although mobile payments are nothing new, only a meagre 5 percent of companies are using the technology for their travel payments.
Mobile payment offers a payment option through a smart phone, without the use of debit cards, credit cards or cash.
The Association of Corporate Travel Executives (ACTE) and AirPlus International, a US-based company that provides a suite of business travel payment solutions, has released a white paper on mobile payment and the changes it can bring to the travel industry, especially business travel and expense management.
The paper has estimated that around half of corporate companies are expected to adopt mobile payments for business travel expenditure in future, even if the penetration of mobile payment technology is currently pretty low,
Volker Huber, the executive vice president of global sales, of Airplus, said, ‘Our survey showed there are still big knowledge deficits in the industry as regards mobile payment solutions. But, this topic is becoming extremely important for business travel and will completely transform the way we pay.