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July 16, 2014 /PRNewswire-USNewswire/ -- Two new reports issued today by the GBTA Foundation — the education and research arm of the Global Business Travel Association (GBTA) — evaluate the landscape of travel payments from the perspectives of both the travel manager and the business traveler. The reports,
Payment Solutions for Travel Managers and
Business Traveler: Landscape of Travel Payments, sponsored by TSYS — a leading global commercial payments provider — reveal that general awareness of new payment technology, such as mobile payments and contactless cards is high, but interest is focused around the expense reporting side.
"The research provides insight into how payment solutions work for both the business traveler and the travel manager," said
Joseph Bates, GBTA Foundation vice president of research. "Currently the expense management side of business travel is a pain point for both groups providing an opportunity for payment solutions providers to meet these needs."
"TSYS is proud to partner with GBTA in delivering research that helps commercial issuers better understand the payment needs of business travelers and travel managers," said
Keith Pierce, group executive of Commercial Services, TSYS. "This primary research will help many in the commercial payments industry better identify areas for strategic investment, while addressing end-users' pain points."
Corporate Card Programs Widespread, Room for Improvement
Nearly all travel managers say their company has a corporate card program, and the study found that corporate card usage is high with a large percentage of travel spend paid for using corporate cards (70 percent on average). By and large, according to travel managers, corporate card programs meet their business needs, with a majority of travel managers highly satisfied with their corporate card programs. Areas travel managers flagged for improvement are controls, compliance, incentives and rebates. Additionally, one-third of travel managers each named process efficiency, merchant acceptance and global spend visibility as areas for improvement.