When it comes to the many facets of business travel, paying for everything has never been the most problem-free function. But while more progress is still needed, the growing sophistication of the latest solutions may be cause for some reasonable optimism. “End-to-end payment solutions in travel are maturing rapidly,” says Ralph Kaiser, president and CEO of the global payment network UATP. “They are reshaping the entire airline distribution value chain, creating new efficiencies and revenue opportunities.”
Kaiser notes that with virtual cards and blockchain at the forefront, overall progress aligns with the industry’s push for seamless, personalized travel experiences from booking to settlement. As one example,
he points to the recently announced collaboration between blockchain payments specialist Blockskye and United Airlines. In linking spending on consumer cards with business travel management, the platform allows travelers to use consumer credit cards to pay for business travel without compromising reporting or duty of care standards.
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