CORPORATE CARDS & PAYMENTS 2018
Emerging technologies, new data regulations and spending trends in focus
In association with 001 Front cover 2018
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Editor Matthew Parsons Art Director Annie Harris Designer Nina Christopher Sub Editor Mary Cooch Contributors Catherine Chetwynd, Amon Cohen, Nick Easen, Rob Gill Publisher Chris Mihalop Events Manager Emma Gordon Marketing and Circulation Kirsty Clark Production Manager Jamie Halling Editorial tel +44 (0)20 7821 2715 Email
editor@buyingbusinesstravel.com Front cover image: iStock
Buying Business Travel is published by Panacea Publishing International Ltd, 41-43 Maddox Street, London W1S 2PD, United Kingdom Tel +44 (0)20 7821 2700 Managing Director Julian Gregory Editorial Director Tom Otley
© 2018 Panacea Publishing International Ltd. The magazine is entirely independent of all commercial interests within the travel industry. Unsolicited manuscripts will not be accepted for publication. The opinions expressed by contributors are not necessarily those of the publishers who cannot accept responsibility for any errors or omissions.
GROWTH IN A CHANGING ENVIRONMENT
B
usiness travel is once again on a clear growth trajectory. According to the Global Business Travel
Association, business travel spending grew by 5.2 per cent in 2017 and expectations for future growth are optimistic. And yet the sector today feels markedly different to how it did in previous years due to the rapidly changing environment.
• Technological change continues to accelerate. Mobile solutions have come of age, and the dawn of Application Programming Interfaces (APIs) is upon us. Industry participants now have more opportunity than ever to innovate and differentiate.
• The regulatory environment is shifting. Corporates and providers are investing significant efforts to comply with new regulatory requirements, such as the General Data Protection Regulation (GDPR) and the Payment Services Directive 2 (PSD2). Even where these changes have not specifically targeted the business travel space, there is plenty of impact and opportunity.
• Efficiency is critical to competition. Corporates have to be agile when adopting new processes to optimise travel costs and reduce manual efforts.
Being able to adapt our strategies to these factors will be key to maximising opportunity and long-term success.
David Voss,
Head of Commercial Cards, Global Transaction Services EMEA, Bank of America Merrill Lynch
4 BBT CORPORATE CARDS SUPPLEMENT 2018 In association with
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