With a 19% year-over-year growth in fraud, the corporate travel industry faces serious challenges to its payment processes. In addition to this steady increase in fraudulent activity, today’s corporate travel managers grapple with time-consuming credit card reconciliations and expensive out-of-policy travel. At the same time, changing traveler behavior encourages the adoption of alternative forms of payment. So will this trend impact your company’s future payment program?
Short answer: yes. Virtual payments are shifting the way that travel is purchased, using a virtual credit card with single-use number generated on demand for a specific travel event. It functions in the same manner as a traditional credit card but with added benefits such protection against fraud, control of out-of-policy bookings and automated expense reconciliation.
In the infographic below, we’ve compiled compelling reasons to monitor the shifting landscape and rethink payment strategies. To learn more, and join the journey towards a more secure, streamlined and successful payments strategy, contact your Sabre account rep or email firstname.lastname@example.org.