Technological innovation at the heart of tomorrow’s payments
After one-click payments, full automation of expenses is well on the way to becoming widespread, heralding a new era for payment management.
Beacon’s technology, supported by the online payment giant PayPal, is predicting a payment revolution. The principle is based on the most transparent payment there is: using a key connected to a computer that can interact with smartphones, a client is identified by their photo. Their purchases are paid for automatically, no other operation required. Specifically, the user in this case will have no need to use a plastic card or enter any code. Will this digital age of ours see this kind of practice becoming widespread?
In the world of business travel, we are already processing payments made as invisibly and silently as possible. Thanks to close partnerships with travel operators like SNCF, Avis, AirBnB, and SnapCar, payment management specialists are already offering near-transparent payments, eliminating many restrictions for the end-user.
More than ever before, technologies are at the forefront and act as a catalyst for innovations of this kind. Suppliers of business travel software solutions – SBT (Self Booking Tools) – are adding further additional features as part of their offer, for example, direct supplier links and reconciliation of invoices with the mission order, as well as the possibility of reserving flights or hotels on a single centralised platform.
This hyper-simplified payment environment entails a high level of partnership between the various service providers and payment operators, with a view to close integration enabling further automation. Traveldoo, the provider of software solutions for managing reports for expenses and business travel, proposes implementing an end-to-end solution that will automatically handle bookings as well as travel expenses. “Innovation is at the heart of the Traveldoo strategy for development. New payment methods confirm our clients interest in having integrated technologies across all travel processes, from booking to payment of expenses incurred by travellers,” says Stéphane Donders, Traveldoo CEO.
Mobile applications are another key for this optimisation for capturing and dealing with expenses. By combining geolocation data and the travellers’ consumer histories, any required operations can be found without any manual entry being needed. When needed, actions can be completed using voice command. Business costs can also be digitised, online and offline, and registered as part of a related electronic portfolio using these mobile applications.