TreviPay has entered the corporate accommodations world, offering its embedded payments solution through a collaboration with Choice Hotels.
“To bring greater simplicity, flexibility, and financial management support to business travel, TreviPay’s solution allows companies booking corporate travel with Choice Hotels to select an invoicing option, so travelers no longer have to present a physical card for payment and the company receives consolidated invoices for all travelers,” the company said in a news release Wednesday (April 13).
The company cited the latest forecast from the Global Business Travel Association, which indicated a likely 38% increase in global business travel spending this year as the industry rebounds from pandemic travel restrictions and preferences.
The release noted that many of these travelers and companies are also likely to turn to expense management offerings to avoid having to distribute and mage employee card programs on their own.
“Bringing innovation and payment expertise to the hospitality industry is an important step for the B2B industry,” said Brandon Spear, CEO of TreviPay. “Corporate clients of participating hotel chains will be relieved of time-consuming invoice tracking and expense management with consolidated hospitality billing, enabling them to focus on other business growth and development areas as business travel rebounds.”
TreviPay said it gives hotel chains a dedicated financial relationship and expense management through consolidated billing for B2B buyers to help attract corporate travel clients, which is a $111.7 billion market. Choice’s corporate clients can reserve rooms at checkout with a physical payment card, with all employee stays invoiced back to their companies.
Spear was one of the executives who contributed to the PYMNTS eBook, “Endemic Economics: 32 Payments Execs on the ‘Next Normal’ That Never Happened,” where he talked about the importance of understanding digital identity theft.
“B2B merchants and manufacturers must be closely in tune with the revolutionary changes to customer experience, engagement and convenience embraced by the rising digital generation and accelerated by COVID-19,” he wrote. “As B2B companies continue to expand their online offerings in 2022, supporting safety and security in payments remains a key priority in payments innovation.
“Leveraging data and automated anti-fraud solutions to offer instant decisioning and credit will remain an important driver of B2B business growth by strengthening the relationship between buyers and sellers.”