Faster Payments

Lyft Announces Receipt Forwarding for Business Travelers

Lyft said Tuesday that it is debuting a new feature, receipt forwarding for business travelers and travel managers.

The ride hailing company said in a release that the forwarding feature works as each ride receipt taken under a business profile is automatically forwarded to each user’s designated expense management system. Lyft said that it is partnering with seven expense management firms, including Concur, Chrome River, Abacus, Zoho, Nexonia and others.

The steps involve a user signing up for a business profile, selecting one of the expense management systems available, and ride data is automatically sent to the EMS to be loaded to the expense report and itemized.

In a statement accompanying the announcement, Kamil Rodoper, head of enterprise products at Lyft, said, “Our goal is to provide reliable, easy-to-adopt and cost-effective transportation solutions to make Lyft the preferred partner for businesses. Integrating with expense management systems saves time and creates a seamless experience for employees to do their expenses.”

As has been noted in the past, the competition between Lyft, which is focused on the U.S., and Uber, which is globallyboriented, is tightening.  Stats from last month and via research firm Second Measure show that Uber’s U.S. market share has dropped from 84 percent at the beginning of this year to 77 percent at the end of May.

 

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