TSYS Releases Insights on Payment Preferences of Business Travelers and Travel Administrators
Columbus, Ga., January 13, 2015 — TSYS (NYSE: TSS) today released a white paper titled “T&E Card Programs: A Revealing, 360-Degree Look at Business Travelers’ and Travel Managers’ Needs.” The paper explores the current state of business travel spending, along with the potential for improvement and added value to travel and entertainment (T&E) programs.
TSYS and the Global Business Travel Association (GBTA) Foundation conducted two surveys that provide a unique and revealing 360-degree look at travel managers’ and business travelers’ experience with T&E corporate card programs. The surveys captured insight around T&E card usage and trends, as well as other technology that facilitates both personal and business travel and payments.
Across the business travel life cycle — from booking and paying for a business trip to expense reporting and reimbursement — the surveys found that the needs and wants of business travelers and travel managers converge in some areas and diverge in others. Business travelers generally seek simplicity, including ease of booking trips, payment, recording and submitting expenses, as well as quick reimbursement. Travel managers, on the other hand, seek tools that ensure compliance and careful management of spending, data integration for analysis and other process efficiencies.
“One surprising finding is that despite high satisfaction with corporate travel card programs among both business travelers and travel administrators, personal card usage among business travelers remains high,” said author Christina Hall, senior product development manager, TSYS Commercial Services. “Additionally, the technologies that business travelers use in their personal banking and credit card relationships greatly influence expectations for their corporate credit cards.”
The report concludes with three key areas for improvement that commercial card issuers should focus on to make their T&E programs more valuable to travel managers and business travelers. The paper suggests that now is the time for issuers to focus on their T&E programs to capture revenue growth.
The primary research that served as the foundation for this paper was presented by TSYS and GBTA at the recent GBTA Convention 2014 in Los Angeles.
At TSYS® (NYSE: TSS), we believe payments should revolve around people, not the other way around. We call this belief “People-Centered Payments®.” By putting people at the center of every decision we make, TSYS supports financial institutions, businesses and governments in more than 80 countries. Through NetSpend®, A TSYS Company, we empower consumers with the convenience, security, and freedom to be self-banked. TSYS offers issuer services and merchant payment acceptance for credit, debit, prepaid, healthcare and business solutions.
TSYS’ headquarters are located in Columbus, Ga., U.S.A., with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS is a member of The Civic 50 and has been named one of the 2013 World’s Most Ethical Companies by Ethisphere magazine. TSYS routinely posts all important information on its website. For more, please visit us at www.tsys.com.
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