Are mobile payments the future of business travel policy?

5 reasons why business travel needs to utilise mobile payment

23 October 2014
With Apple having introduced its own mobile payment services (Apple Pay) the technology, which has been available to consumers since 2012, will now undoubtedly become a more important and utilised tool for payment. It has been noted that the features that come with the technology could assist both business travellers and travel buyers. PHR looks at the reasons why you should start using your mobile payment technology right now:

1. On-the-spot compliance checking
The technology is able to provide real time point-of-sale data which can determine whether a transaction is within your travel policy or not.

2. Pocket-sized compliance manager
The policy management at the point of sale is a more effective form of data collection and a less intrusive way of monitoring business travellers.

3. Super-fast data capture
Real-time data has never been as accurate as this before. Enables travel buyers to make on the spot decisions much faster and with more confidence.

4. Greater Visibility
More electronically captured payments means a more accurate visibility of spend. Moreover all this info can be stored, analysed and compared.

5. Better policy sophistication
Right now mobile payment technology can link with GPS for policy refinement based on location. Future technology will undoubtedly add more applications of this.

Mobile payment technology will undoubtedly be an asset if used correctly and for prolonged periods. Only time will tell if this technology is slowly adopted and utilised by travel buyers.
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