How will payments innovations play out in the โNew World Orderโ of business travel shopping and booking?
With the focus on new distribution channels, the processes around corporate travel are undergoing a major transformation, and the changes are coming fast and furious. But the road to the future is turning out to be a bumpy one. Just see Exhibit 1: Last year, American Airlines eliminated approximately 40 percent of its EDIFACT fares and redirected them to NDC platforms. However, in an about face, the carrier
recently announced it is pulling back from that aggressive strategy, promising to be โmore attentive to the marketplace going forward,โ according to CEO Robert Isom.
How this tangled new world of NDC and changing booking and buying habits will impact payments systems remains to be seen. Some innovations in the corporate payments space, such as virtual
cards, have not yet created the full-scale disruption they were intended to. And inflexible legacy systems can make integrating new payments technology clunky.
So how exactly will payments evolve in this new world order of business travel management?
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