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A virtual (payment) reality

  • EditeurBCD travel
  • Version Pdf - 18 pages - Novembre 2015 - Anglais

Introduction ou extrait du livre blanc

Extrait du livre blanc : "Travel programs and business travelers tend to pay for corporate travel in one of two ways: business travel accounts (BTAs) and plastic corporate cards. BTAs are usually used for air transactions and corporate cards are usually used for on-trip spend, like hotel and other expenses.

Both payment methods offer benefits to companies, but they also bring challenges. Roadblocks include providing trip payment for infrequent travelers, fraudulent use, and (in the case of corporate cards) inconsistent reporting due to time-consuming manual data matching processes .

Virtual credit cards (VCCs) offer an intriguing payment alternative that lets you dodge these roadblocks . They reduce the risk of fraud, because a VCC number is generated electronically for a particular amount and time window; it’s valid for only a single purchase. And by combining VCC with virtual payment automation (VPA), you can capture the data the VCC generates. VPA uses its one-time-only card number to match the payment to the booking.

Used together, VCC and VPA create a viable payment solution for your infrequent travelers, job applicants and guests . And once VCCs are more widely integrated within the industry, you’ll be able to use them for a wider audience .  

In this paper, we’ll familiarize you with VCC and VPA. We’ll share tips on vendor selection and outline steps to take as you move towards implementation. Once you’re set up for VPA using virtual cards, you can start using them for your infrequent travelers—and you’ll be poised to use them more widely when VCC use picks up ."

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