Blockchain Technology in Travel Insurance

Apurva Pathak | July 20, 2022 | 386 views | Read Time : 01:20 min

Blockchain Technology
Most people associate the term "blockchain" with cryptocurrencies such as Bitcoin, Dogecoin, or Ethereum. Blockchain is the technology behind cryptocurrencies, but it is also a technology in its own right that has many uses.

Blockchain is an immutable ledger that tracks transactions and assets, like cash and patents. All parties have access to the same data simultaneously, eliminating intermediaries and making it a cost-effective way to track assets. It could, for example, track a flight delay and automatically refund a customer’s money.

A German blockchain start-up Etherisc launched an insurance product, FlightDelay, which uses blockchain to automatically issue policies and execute payouts for flight delays and cancellations on around 80 airlines. Customers can buy policies with cryptocurrency and receive claims in cryptocurrency.

Flight delays are where blockchain-based insurance can make a difference in the travel insurance domain. Data on delays and cancellations is readily accessible, and all assist in automatic payments. This way, companies that offer flight insurance can avoid higher claims-processing costs and save on data protection costs because blockchain is secure.


U.S. Insurance Regulations Prevent Blockchain-based Travel Insurance


In the U.S, there is a need for state-by-state approval for changes in regulations. Blockchain’s appearance in the U.S. insurance industry may take another ten or fifteen years. However, the potential of blockchain-based insurance products is huge. Insurance companies can sell them at much lower costs compared to traditional insurance products.


Blockchain Can Change the Travel Insurance Business

Interestingly, the U.S. already has an insurance product similar to FlightDelay but none of them have the blockchain component. Called ‘parametric insurance’, an auto payout is done when some parameter is violated. Using blockchain technology to offer this insurance could save money and enable insurers to pass on some of the savings to the customers. Insurance industry experts think blockchain will definitely make a mark in the travel insurance domain and can change the way travel insurance businesses operate at large.

Spotlight

Key Travel

Key Travel simplifies travel complexity for the humanitarian, education and faith sectors.Our commitment to innovation has helped our clients overcome the complexities of their unique travel requirements for 40 years.We use our market expertise, technology and sector-focused products to anticipate traveller needs and simplify the booking process, delivering a tailored travel experience. This enables travellers to accomplish their goals of supporting, healing and educating people worldwide.

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BUSINESS TRAVEL

Leveraging AI English Language Training Tools to Address Travel Surge

Article | August 5, 2022

Following the relaxation of travel restrictions worldwide, the travel and hospitality industries are bracing for a surge in demand, which will be exacerbated by the upcoming holiday season. As widespread delays and cancellations become more likely, companies like airlines are looking for new ways to put customer experience first. In a global workplace, not being able to speak more than one language, especially English, can hurt productivity and customer service. For this reason, people who work with customers need to have good communication skills. Investing in AI English Language Training Tools Traditional training for staff in the travel and hospitality industries requires in-person sessions. It can be expensive and impractical because employees have tight work schedules and staff operates in different time zones. AI app-based training alternatives solve these key issues, allowing employees to learn "on-the-fly" whenever possible. Digital training alternatives can provide greater levels of personalization for task assignment and user feedback. This individualized approach to staff development is difficult to replicate in large in-person sessions. Because all tasks are given and done digitally, management teams can track each user's progress and how well training is going for the whole department. Offering Excellent Customer Experience English communication is vital to offering an excellent customer experience and long-term profitability as the travel industry recovers. Artificial intelligence-powered English language training solutions stand out from the crowd. This technology has the potential to constantly advance and improve over time, thanks to its own learning community. Ed-tech learning tools that incorporate future-proofed AI technology will enable providers to confidently invest in training, increase staff engagement, and provide best-in-class customer experiences to global travelers. As a result, companies in the travel and hospitality industries that put communication skills training at the top of their list of priorities and speed it up can increase customer loyalty and stay competitive with other market leaders.

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TRAVEL TECHNOLOGY,HOSPITALITY TRENDS

Crypto Tourism: A Quick Guide

Article | June 24, 2022

Cryptocurrencies have skyrocketed in popularity in recent years. They have progressed from a speculative asset class to one gaining widespread mainstream acceptance. And it's not just retail investors who are interested; cryptocurrencies are finding applications in various industries, including tourism. Yes, the travel industry, like many others, has warmed up to these virtual digital assets. It has even spawned a new type of operation, namely crypto tourism. Introduction to Crypto Tourism Crypto tourism is categorized into two broad groups: the first has tours and travel packages purchased with cryptocurrency. Emirates Airlines, the biggest airline in the UAE, has said it will soon accept bitcoin as a form of payment. Air Baltic, a Latvian airline, has also been accepting bitcoin for a long time. The second type of crypto tourism is trips and travel packages where crypto conferences, classes, or lectures are a big part of the schedule. You might not understand why someone would take a vacation to go to a lecture or learn about blockchain. Well, most people don't go on vacations like these. Instead, they focus on entrepreneurs and crypto fans who want to network, meet people with similar interests, and discuss business ideas. In addition to the usual sightseeing and relaxing, these crypto trips include talks by well-known speakers and industry veterans. Limitation and Scope Crypto tourism is a small market with few options, and only a small number of travel partners accept crypto payments. Also, the people who put on some crypto trips often use these events to sell ICOs and do other marketing. However, crypto tours are great for people who want to learn about cryptocurrencies, meet others interested in the same things, and relax. They are also great if you want digital money to pay for your trip. Then, you don't have to worry about currency exchange rates or losing cash. A Different Reality Crypto tourism might be niche, but it is a new reality in the travel industry. It allows safe transactions and innovative tours, which many businesses are keen about.

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AIRLINES AND AIRPORTS

Smart Airports: Hassle-free Air Travel & Revenue

Article | July 12, 2022

Airports are embracing data and technology to improve the experience for both passengers and vendors. Such ‘smart airports’ where internet-connected devices control functions like thermostats and security using cloud-based technologies to enhance the consumer experience, are quickly becoming commonplace. The Emergence of Smart Airports Smart Airports were made to solve control and management problems that airports are having more and more of because of the number of people and goods that go through them. Because of this, experts from all over the world are focusing on smart airports, which use the latest developments in telecommunications, infrastructure, robotics, and the Internet of Things (IoT). Advantages of Smart Airports Real-time data improves operational efficiency. Cost reduction, productivity improvement, and operational perfection. Demand optimization through passenger flow control and entry automation. Improved passenger handling, flight control, check-in, etc. Biometric monitoring systems, advanced cyber security, and reliable operations and maintenance improve surveillance and security. Better ground and health surveillance (cleaning frequencies, availability of amenities, etc.). The Revenue Angle A smart airport uses Wi-Fi access points as sensors to track passengers’ location and record their dwell times. With this data, the airport could place signs and ads where they would be seen. While landing travelers previously made few purchases, this airport placed signs for products they may want to buy before leaving where they would be seen. The result was increased sales for retailers and landside revenue for the airport operator. (Source: Deloitte Study) Traveler’s & Airport Operations Experience A traveler constantly interacts with technology systems and stakeholders during his journey through the airport. The smart airport systems influence the traveler’s safety, convenience, and overall experience at the airport. Operations like bag tracking, indoor navigation, in-store beacons, geo-fencing, queue analyzer, biometric screening, Wi-Fi passenger tracking, and building management systems are powered by IoT implementations that make an airport smart. Creating a Smart Airport: The Checklist A well-structured planning process can assist airport leaders in navigating all of the options and gaining confidence in achieving the airport's business objectives. The checklist includes the following steps: Selecting an IoT solution that aligns with your business goals Determine the organizational and technical abilities required to implement the solution Craft a road map to address gaps between the required abilities and existing abilities

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TRAVEL TECHNOLOGY

Big Data In Travel: Triggering Business Transformation

Article | July 7, 2022

Global travel agencies are striving to maintain a competitive edge in the market. They are relying on big data to analyze the current state of the market, automate work processes, and better understand customer needs to streamline their businesses. Big data is now an important part of the future of the travel industry because it helps: Accurate decision-making Customer demand forecasting Service personalization Travel marketing Optimization of pricing strategies How is Big Data Sourced? The following data sources are used to gather big data: UGC Data User-Generated Data (UGC) is the most affordable data to obtain and includes textual data gathered through questionnaires, social networks, and image data. Device Data Device data gives access to GPS data, mobile roaming data, bluetooth data, RFID, WiFi data and more. This data is harder to obtain and is expensive. Transaction Data Web search data, web page visit data, online booking data, etc., constitute transaction data. Advanced web services such as Google Analytics can help collate this data. The sourced data is analyzed using artificial intelligence, machine learning, and natural language processing (NLP). How Is Big Data Changing the Way Travel Companies Operate? With the help of big data, you can increase your performance, get deeper customer insights, and offer an excellent customer experience to travelers. Let us briefly examine how big data can help you achieve all these objectives. Optimize Your Revenue Optimize your costs and accurately predict short-term and long-term revenues. Through customer experience metrics, you can also analyze your profit potential, correctly forecast peak period demand and offer relevant services to customers at the right time. As a result, protect your agency from unexpected expenses and make the most of customer demand. Recognize & Capitalize on Trends Historical, real-time data and a standard analytical approach help you understand the changing trends in the tourism industry. Then, you can swiftly take measures to adapt to these changing trends and capitalize on the ones that contribute to revenue. Bleisure is an excellent example of such a travel trend. Improve Your Marketing Campaigns Big data processes large amounts of information on your target audience and helps you see which marketing campaigns can succeed based on long-term forecasting. Consequently, you can prevent any unexpected losses while executing seasonal marketing campaigns. Additionally, big data collects information on your competitors and target audience in real-time, so you know the kind of marketing campaigns you need to execute to remain ahead in the race. Enhance Brand Reputation Big data considers customer reviews and comments to help you understand which aspects of your business need improvement. Internally collected feedback and big data analysis can create a standard to improve the brand reputation of your agency. Conclusion Big data in the travel industry is more than just a trend; it is a tool for better understanding the market situation and each customer in general (potential and existing). All of this lays the groundwork for a more personalized approach and accurate prediction of what customers want, and contributes to an elevated customer experience and an increase in revenue.

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Spotlight

Key Travel

Key Travel simplifies travel complexity for the humanitarian, education and faith sectors.Our commitment to innovation has helped our clients overcome the complexities of their unique travel requirements for 40 years.We use our market expertise, technology and sector-focused products to anticipate traveller needs and simplify the booking process, delivering a tailored travel experience. This enables travellers to accomplish their goals of supporting, healing and educating people worldwide.

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TRAVEL TECHNOLOGY,BUSINESS TRAVEL

HRS Acquires Paypense, Enabling Widescale Digitized Payment Technology for Corporations and Employees

HRS | August 08, 2022

HRS, the leading Gobal corporate travel and payment technology platform, announced the acquisition of Germany-based Paypense, enhancing HRS’ growing compilation of efficient corporate payment offerings. Only two years since launch, Paypense’s open platform has already made inroads with a broad range of corporations, enabling employees to use digital payment technology to pay for all work-related purchases. This smarter solution ensures compliance to budgets while also capturing relevant data for auditing, steering and even sustainability metrics. “HRS Pay, reinforced by years of proprietary investments and our 2021 purchase of Itelya to propel the digital transformation of payment, is taking the next step in delivering an exceptional 'in destination experience' for corporate employees, Paypense provides intelligent spend management services for managers and employees alike, whether they are on the road for weeks at a time or supporting a one-day, off-site event that doesn’t require travel. This acquisition represents a new milestone for HRS Pay as we continue to focus on elevating employee satisfaction.” -Tobias Ragge, HRS CEO The employee satisfaction component is critical to driving the successful deployment and ongoing use of spend management technology. Recent research from the Global Business Travel Association, inclusive of feedback from 600+ procurement executives and nearly 2,500 business travelers, found that 85 percent of respondents said that the ease of completing expense reports, ease of expense approval process and speed of reimbursement are important to spend management.. Paypense’s Broad Array of Controls and Efficiencies Redefine Spend Management Leveraging automated intelligence and auto-approved, in-policy purchasing, Paypense dramatically reduces concerns about what items an employee may acquire. This elegant solution appeals to accounting and procurement managers, as Paypense effectively ensures the right amounts are spent on the right kind of purchases, every single time. The under-the-hood approach to managing virtual technology and secure connections to a company’s preferred banking institutions makes this seamless to employees who crave simplicity in all expense-related processes. Other Paypense highlights include: The provision of pre-approved budgets in real time to individual employees, groups, or job candidates via Paypense’s patented "matrix approval engine.” Functionality also allows for the approval and dispensing of increased allocations for emergency scenarios; Mobile app capabilities that facilitate tracked purchases by the employees, without him/her ever having to use their own funds; Automated receipt acquisition for common online portals used by employees, including air, rail, hotel, auto, ridesharing, phone and other prominent suppliers; and Leveraging supplier and localized data, Paypense captures the CO2 emissions of individual expenses, a vital element for companies taking steps to reduce their carbon footprint. “With our open platform, we’ve introduced a unique differentiator for the provision of virtual credit cards for pre-approved expenses, It’s clear from our industry engagement that there is an appreciation for our approach. We’re working in concert with expense providers and financial institutions, not competing with them as we transition from expense management to spend management. And with all parties squarely focusing on enhancing the employee experience, we’re increasing satisfaction even as we uncover new avenues of payment efficiency.” -Christopher Hecht, founder and CEO of Paypense Complemented by this acquisition, HRS Pay now offers truly holistic spend management solutions covering not only travel-related spend, but also non-travel, localized spend that accounts for significant expenses,” said Kurt Knackstedt, Chief Growth Officer for HRS Pay. “With the full integration of Paypense, our complete end-to-end spend management platform provides unmatched visibility of level-3 data, multi-category invoice digitization, and superior VAT reclaim automation – all available globally via any payment provider. Given these cumulative capabilities, HRS Pay is uniquely positioned to deliver the consummate payment solution for Fortune 500 multi-national companies. Paypense’s employees will officially become HRS Pay employees when the acquisition formally closes in August. Christopher Hecht will join the HRS Pay team as Chief Product Officer, overseeing development and working collaboratively with clients, partners and employees to enrich HRS Pay solutions moving forward. HRS Pay solutions will be featured at the upcoming Global Business Travel Association conference in San Diego on August 14-17 at the HRS booth (# 3229). Paypense is also one of an exclusive few new technologies to be selected for the Innovate event in New York City on October 24. About HRS HRS is reinventing the way businesses and governments work, stay and pay in today’s dynamic global marketplace. HRS’ advanced platform technology is extending its reach beyond hospitality to meetings, office space management, payment efficiency and crisis recovery. Beyond cost savings in the global post-pandemic economy, HRS clients gain from an unrivaled focus on essential aspects including safety, security and satisfaction. HRS is also recognized for its award-winning Green Stay Initiative, technology that helps corporate hotel programs achieve their NetZero targets, and its groundbreaking Crew & Passengers Solution, which leverages automation to elevate experiences for air and rail operations. Founded in 1972, HRS works with 35 percent of the global Fortune 500, as well as the world’s leading hotel chains, regional hospitality groups and payment providers. More information at www.hrs.com/enterprise.

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TRAVEL TECHNOLOGY

Alipay+ Partners with Leading Asian E-Wallets to Promote Cashless Travel in South Korea

Alipay+ | September 27, 2022

Leading mobile payment providers across Asia announced today an integration of Alipay+ cross-border digital payment solutions in South Korea in an effort to jointly promote cashless travel in the country.Users of e-wallets including AlipayHK, GCash (the Philippines), Touch ‘n Go eWallet (Malaysia), and TrueMoney (Thailand) are able to pay at over 120,000 merchants using their local mobile payment apps when traveling in South Korea. The collaboration marks the first time for leading mobile payment providers from Southeast Asia and Hong Kong to extend the availability of their services in South Korea through Alipay+. The initial phase of the merchant roll-out covers major tourist activities including payments for taxi, duty free shops, convenience stores, and food and beverage chains. Introduced by Ant Group, Alipay+ is a suite of global cross-border digital payments and marketing solutions designed to enable businesses to process a wide range of mobile payment methods and better serve regional and global consumers through simple technical adaption. Commenting on the collaboration, Danny Chung, General Manager of Ant Group Korea, Australia and New Zealand, said: “It is our pleasure to connect merchants in Korea with a variety of mobile payment methods, enabling Asian tourists to pay with convenience and simplicity in Korea using their preferred home e-wallets.” As the theme of this year’s World Tourism Day is Rethinking Tourism, Alipay+ has been striving to achieve the same goal by supporting a cashless and smart travel experience. Through innovation and digitalization, we hope Alipay+ can play its role in the transformation of tourism towards a crucial pillar of development.” The partnership between Alipay+ and Asia’s e-wallet leaders comes as international travel across Asia continues to rebound. In early September, South Korea lifted the requirement for pre-travel Covid-19 tests for inbound travelers, following a decision to remove all quarantine requirements for foreign arrivals regardless of vaccination status. “With South Korea being one of the most popular destinations of Filipinos, we are delighted that our customers will be able to maximize their GCash app during their travels. This collaboration with Alipay+ provides our users the convenience they need to easily transact and manage their expenses with GCash, This innovative partnership aligns with our vision of financial inclusion and is a huge step towards building a cashless ecosystem, worldwide.” -Martha Sazon, President and CEO Mynt, which operates GCash, Venetia Lee, General Manager, AlipayHK and Alipay Greater China International Business, Ant Group, said, "It is our pleasure to announce the connection to South Korea, a popular tourist destination for Hong Kong people. AlipayHK aims to provide our users with one-stop lifestyle services, including not only local but also cross-border payments for those who love traveling. With AlipayHK already being accepted by the vast majority of merchants in Japan, Chinese mainland and Macao through Alipay+, we expect our service to expand to more destinations, enabling AlipayHK users to travel everywhere with one app using their own e-wallet." Mr. Koravut Pavitpok, Head of Commercial of TrueMoney Co., Ltd. said, South Korea has long been one of the top tourist destinations among Thais for its fascinating history, a wonderful culture and amazing food. Before the pandemic, more than half of a million of Thais travel to the country each year. And since the borders re-opened, Thai tourists have become the second highest visitors to South Korea. As international travel is on the up again, our partnership with Alipay+ has allowed TrueMoney Wallet to expand our service territory and provide more convenient and safer cross-border cashless payment to our users. South Korea’s long-term popularity as a destination for travel, shopping, and k-pop makes it a top choice for international tourists as travel in Asia revitalizes. According to statistics by Korea Tourism Organization, over 800,000 foreign tourists visited South Korea during the first half of this year, representing an increase of 92.8% compared to the same period last year. Tourists from ASEAN countries, including the Philippines, Thailand and Malaysia, topped the inbound arrivals to South Korea, accounting for 30.3% of the total. As the usage of mobile payments by international travelers and the number of travelers from Southeast Asia continues to rise, the retail industry in Korea is adopting various mobile payment methods particularly through partnership with Alipay+. For instance, Lotte Duty Free and convenient store brand GS25 have signed partnership agreements with Alipay+ to make shopping experience more convenient for international consumers. About Alipay+ Alipay+ offers unified global mobile payment and marketing solutions that connect merchants with multiple e-wallets and payment methods from different countries and regions by collaborating with global partners. Consumers can conveniently use their preferred local payment methods while transacting seamlessly in a different market and be able to enjoy marketing offers by the merchants through Alipay+. Alipay+ is developed by Ant Group, the owner and operator of Alipay, one of the world’s leading digital open platforms.

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TRAVEL TECHNOLOGY,COMMERCIAL TRAVEL

TDCX expands in the Philippines to meet growing demand for complex customer experience solutions

TDCX | September 29, 2022

TDCX, Inc. (“TDCX” or the “Company”) (NYSE: TDCX), a high-growth digital customer experience (CX) solutions provider for technology and blue-chip companies, continues its expansion path with a new office in Iloilo in the Philippines. This is TDCX’s sixth campus in the Philippines and strengthens the company’s capacity to serve Global English end-markets, such as North America, United Kingdom, Ireland, Australia and New Zealand. The outsourced CX services market outside of Southeast Asia is expected to grow to US$86.3 billion by 20251. With the expanded operations in the Philippines, TDCX will meet the increasing demand for CX services. TDCX has signed on 25 new clients since January 2022, including a leading regional airline and one of Southeast Asia’s largest integrated car e-commerce platforms. “As economies around the world recover from the effects of the pandemic and grapple with the current economic uncertainties, we are seeing increased demand for outsourced customer experience services. This is due, in part, to our ability to deliver superior customer experiences and to drive sales quickly, efficiently and cost-effectively for our clients. In the second quarter of this year, our total revenue across the Group was US$116.6 million, up 23.3% year-on-year2." -Ms Eliza Acuña, Vice President for Business Strategy, TDCX Philippines The Philippines is known for its outsourcing capabilities and is an important node in TDCX’s network. Their highly skilled workforce coupled with a hospitable culture make the country a hotspot for us to hire the talent we need to resolve increasingly complex customer issues. Our new office in Iloilo will supplement our Manila and Cebu operations and create more job opportunities locally. TDCX opened its Manila office in 2014 and its Cebu office in 2019. Since the opening of the Cebu office, TDCX has almost doubled its staff strength in the Philippines. TDCX’s Iloilo office a gateway into Philippines’ upcoming innovation hub Iloilo is anticipated to be an innovation hub by 20303. TDCX’s strategic expansion into Iloilo enables it to entrench itself in the local innovation ecosystem and work with other stakeholders to enhance the outsourced customer experience industry’s competitiveness on the global stage. Ms Acuña said, The outsourced customer experience industry is increasingly important in the growing digital economy. As consumers live more of their lives online, their experience becomes a more significant factor in brand preference and loyalty. Hence, this is a very exciting time for our industry and our people. With our positive work environment, attractive client roster and interesting and fulfilling work, we look forward to growing with our people and equipping them with future-ready skills that will help them stay competitive in the new economy. New economy jobs are emerging professions that reflect the continuing importance of human interaction, according to a report by the World Economic Forum4. The report also states that demand for both “digital” and “human” factors in the professions of tomorrow is driving greater demand for roles such as customer success specialists. To equip its people with the skills for new economy jobs, TDCX provides a wide variety of training programs through a mix of structured and unstructured learning environments. TDCX’s online learning and training programs known as "Flash Coach" and "Flash Learn" provide employees with access to training virtually and on-demand. In addition to job-specific training, employees also receive training in critical thinking, problem-solving and agility. These are among the top skills that are needed by 2025 as identified by the World Economic Forum. Employees are empowered to complete the modules at their own pace while managing their day-to-day responsibilities. The training content is continually refreshed based on analytics from the platform. In addition, TDCX provides employees access to leadership programs such as Dale Carnegie training and online tools such as LinkedIn Learning so that they may voluntarily gain new skills. TDCX’s Iloilo campus is located at Robinsons Cybergate Iloilo Tower 1 in Pavia. About TDCX Singapore-headquartered TDCX provides transformative digital CX solutions, enabling world-leading and disruptive brands to acquire new customers, to build customer loyalty and to protect their online communities. TDCX helps clients achieve their customer experience aspirations by harnessing technology, human intelligence and its global footprint. It serves clients in fintech, gaming, technology, home sharing and travel, digital advertising and social media, streaming and e-commerce. TDCX’s expertise and strong footprint in Asia has made it a trusted partner for clients, particularly high-growth, new economy companies, looking to tap the region’s growth potential.TDCX’s commitment to delivering positive outcomes for our clients extends to its role as a responsible corporate citizen. Its Corporate Social Responsibility program focuses on positively transforming the lives of its people, its communities and the environment.TDCX employs more than 17,000 employees across 26 campuses globally, specifically Singapore, Malaysia, Thailand, Philippines, Mainland China, Hong Kong, South Korea, Japan, India, Romania, Spain and Colombia. For more information, please visit www.tdcx.com.

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TRAVEL TECHNOLOGY,BUSINESS TRAVEL

HRS Acquires Paypense, Enabling Widescale Digitized Payment Technology for Corporations and Employees

HRS | August 08, 2022

HRS, the leading Gobal corporate travel and payment technology platform, announced the acquisition of Germany-based Paypense, enhancing HRS’ growing compilation of efficient corporate payment offerings. Only two years since launch, Paypense’s open platform has already made inroads with a broad range of corporations, enabling employees to use digital payment technology to pay for all work-related purchases. This smarter solution ensures compliance to budgets while also capturing relevant data for auditing, steering and even sustainability metrics. “HRS Pay, reinforced by years of proprietary investments and our 2021 purchase of Itelya to propel the digital transformation of payment, is taking the next step in delivering an exceptional 'in destination experience' for corporate employees, Paypense provides intelligent spend management services for managers and employees alike, whether they are on the road for weeks at a time or supporting a one-day, off-site event that doesn’t require travel. This acquisition represents a new milestone for HRS Pay as we continue to focus on elevating employee satisfaction.” -Tobias Ragge, HRS CEO The employee satisfaction component is critical to driving the successful deployment and ongoing use of spend management technology. Recent research from the Global Business Travel Association, inclusive of feedback from 600+ procurement executives and nearly 2,500 business travelers, found that 85 percent of respondents said that the ease of completing expense reports, ease of expense approval process and speed of reimbursement are important to spend management.. Paypense’s Broad Array of Controls and Efficiencies Redefine Spend Management Leveraging automated intelligence and auto-approved, in-policy purchasing, Paypense dramatically reduces concerns about what items an employee may acquire. This elegant solution appeals to accounting and procurement managers, as Paypense effectively ensures the right amounts are spent on the right kind of purchases, every single time. The under-the-hood approach to managing virtual technology and secure connections to a company’s preferred banking institutions makes this seamless to employees who crave simplicity in all expense-related processes. Other Paypense highlights include: The provision of pre-approved budgets in real time to individual employees, groups, or job candidates via Paypense’s patented "matrix approval engine.” Functionality also allows for the approval and dispensing of increased allocations for emergency scenarios; Mobile app capabilities that facilitate tracked purchases by the employees, without him/her ever having to use their own funds; Automated receipt acquisition for common online portals used by employees, including air, rail, hotel, auto, ridesharing, phone and other prominent suppliers; and Leveraging supplier and localized data, Paypense captures the CO2 emissions of individual expenses, a vital element for companies taking steps to reduce their carbon footprint. “With our open platform, we’ve introduced a unique differentiator for the provision of virtual credit cards for pre-approved expenses, It’s clear from our industry engagement that there is an appreciation for our approach. We’re working in concert with expense providers and financial institutions, not competing with them as we transition from expense management to spend management. And with all parties squarely focusing on enhancing the employee experience, we’re increasing satisfaction even as we uncover new avenues of payment efficiency.” -Christopher Hecht, founder and CEO of Paypense Complemented by this acquisition, HRS Pay now offers truly holistic spend management solutions covering not only travel-related spend, but also non-travel, localized spend that accounts for significant expenses,” said Kurt Knackstedt, Chief Growth Officer for HRS Pay. “With the full integration of Paypense, our complete end-to-end spend management platform provides unmatched visibility of level-3 data, multi-category invoice digitization, and superior VAT reclaim automation – all available globally via any payment provider. Given these cumulative capabilities, HRS Pay is uniquely positioned to deliver the consummate payment solution for Fortune 500 multi-national companies. Paypense’s employees will officially become HRS Pay employees when the acquisition formally closes in August. Christopher Hecht will join the HRS Pay team as Chief Product Officer, overseeing development and working collaboratively with clients, partners and employees to enrich HRS Pay solutions moving forward. HRS Pay solutions will be featured at the upcoming Global Business Travel Association conference in San Diego on August 14-17 at the HRS booth (# 3229). Paypense is also one of an exclusive few new technologies to be selected for the Innovate event in New York City on October 24. About HRS HRS is reinventing the way businesses and governments work, stay and pay in today’s dynamic global marketplace. HRS’ advanced platform technology is extending its reach beyond hospitality to meetings, office space management, payment efficiency and crisis recovery. Beyond cost savings in the global post-pandemic economy, HRS clients gain from an unrivaled focus on essential aspects including safety, security and satisfaction. HRS is also recognized for its award-winning Green Stay Initiative, technology that helps corporate hotel programs achieve their NetZero targets, and its groundbreaking Crew & Passengers Solution, which leverages automation to elevate experiences for air and rail operations. Founded in 1972, HRS works with 35 percent of the global Fortune 500, as well as the world’s leading hotel chains, regional hospitality groups and payment providers. More information at www.hrs.com/enterprise.

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TRAVEL TECHNOLOGY

Alipay+ Partners with Leading Asian E-Wallets to Promote Cashless Travel in South Korea

Alipay+ | September 27, 2022

Leading mobile payment providers across Asia announced today an integration of Alipay+ cross-border digital payment solutions in South Korea in an effort to jointly promote cashless travel in the country.Users of e-wallets including AlipayHK, GCash (the Philippines), Touch ‘n Go eWallet (Malaysia), and TrueMoney (Thailand) are able to pay at over 120,000 merchants using their local mobile payment apps when traveling in South Korea. The collaboration marks the first time for leading mobile payment providers from Southeast Asia and Hong Kong to extend the availability of their services in South Korea through Alipay+. The initial phase of the merchant roll-out covers major tourist activities including payments for taxi, duty free shops, convenience stores, and food and beverage chains. Introduced by Ant Group, Alipay+ is a suite of global cross-border digital payments and marketing solutions designed to enable businesses to process a wide range of mobile payment methods and better serve regional and global consumers through simple technical adaption. Commenting on the collaboration, Danny Chung, General Manager of Ant Group Korea, Australia and New Zealand, said: “It is our pleasure to connect merchants in Korea with a variety of mobile payment methods, enabling Asian tourists to pay with convenience and simplicity in Korea using their preferred home e-wallets.” As the theme of this year’s World Tourism Day is Rethinking Tourism, Alipay+ has been striving to achieve the same goal by supporting a cashless and smart travel experience. Through innovation and digitalization, we hope Alipay+ can play its role in the transformation of tourism towards a crucial pillar of development.” The partnership between Alipay+ and Asia’s e-wallet leaders comes as international travel across Asia continues to rebound. In early September, South Korea lifted the requirement for pre-travel Covid-19 tests for inbound travelers, following a decision to remove all quarantine requirements for foreign arrivals regardless of vaccination status. “With South Korea being one of the most popular destinations of Filipinos, we are delighted that our customers will be able to maximize their GCash app during their travels. This collaboration with Alipay+ provides our users the convenience they need to easily transact and manage their expenses with GCash, This innovative partnership aligns with our vision of financial inclusion and is a huge step towards building a cashless ecosystem, worldwide.” -Martha Sazon, President and CEO Mynt, which operates GCash, Venetia Lee, General Manager, AlipayHK and Alipay Greater China International Business, Ant Group, said, "It is our pleasure to announce the connection to South Korea, a popular tourist destination for Hong Kong people. AlipayHK aims to provide our users with one-stop lifestyle services, including not only local but also cross-border payments for those who love traveling. With AlipayHK already being accepted by the vast majority of merchants in Japan, Chinese mainland and Macao through Alipay+, we expect our service to expand to more destinations, enabling AlipayHK users to travel everywhere with one app using their own e-wallet." Mr. Koravut Pavitpok, Head of Commercial of TrueMoney Co., Ltd. said, South Korea has long been one of the top tourist destinations among Thais for its fascinating history, a wonderful culture and amazing food. Before the pandemic, more than half of a million of Thais travel to the country each year. And since the borders re-opened, Thai tourists have become the second highest visitors to South Korea. As international travel is on the up again, our partnership with Alipay+ has allowed TrueMoney Wallet to expand our service territory and provide more convenient and safer cross-border cashless payment to our users. South Korea’s long-term popularity as a destination for travel, shopping, and k-pop makes it a top choice for international tourists as travel in Asia revitalizes. According to statistics by Korea Tourism Organization, over 800,000 foreign tourists visited South Korea during the first half of this year, representing an increase of 92.8% compared to the same period last year. Tourists from ASEAN countries, including the Philippines, Thailand and Malaysia, topped the inbound arrivals to South Korea, accounting for 30.3% of the total. As the usage of mobile payments by international travelers and the number of travelers from Southeast Asia continues to rise, the retail industry in Korea is adopting various mobile payment methods particularly through partnership with Alipay+. For instance, Lotte Duty Free and convenient store brand GS25 have signed partnership agreements with Alipay+ to make shopping experience more convenient for international consumers. About Alipay+ Alipay+ offers unified global mobile payment and marketing solutions that connect merchants with multiple e-wallets and payment methods from different countries and regions by collaborating with global partners. Consumers can conveniently use their preferred local payment methods while transacting seamlessly in a different market and be able to enjoy marketing offers by the merchants through Alipay+. Alipay+ is developed by Ant Group, the owner and operator of Alipay, one of the world’s leading digital open platforms.

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TDCX expands in the Philippines to meet growing demand for complex customer experience solutions

TDCX | September 29, 2022

TDCX, Inc. (“TDCX” or the “Company”) (NYSE: TDCX), a high-growth digital customer experience (CX) solutions provider for technology and blue-chip companies, continues its expansion path with a new office in Iloilo in the Philippines. This is TDCX’s sixth campus in the Philippines and strengthens the company’s capacity to serve Global English end-markets, such as North America, United Kingdom, Ireland, Australia and New Zealand. The outsourced CX services market outside of Southeast Asia is expected to grow to US$86.3 billion by 20251. With the expanded operations in the Philippines, TDCX will meet the increasing demand for CX services. TDCX has signed on 25 new clients since January 2022, including a leading regional airline and one of Southeast Asia’s largest integrated car e-commerce platforms. “As economies around the world recover from the effects of the pandemic and grapple with the current economic uncertainties, we are seeing increased demand for outsourced customer experience services. This is due, in part, to our ability to deliver superior customer experiences and to drive sales quickly, efficiently and cost-effectively for our clients. In the second quarter of this year, our total revenue across the Group was US$116.6 million, up 23.3% year-on-year2." -Ms Eliza Acuña, Vice President for Business Strategy, TDCX Philippines The Philippines is known for its outsourcing capabilities and is an important node in TDCX’s network. Their highly skilled workforce coupled with a hospitable culture make the country a hotspot for us to hire the talent we need to resolve increasingly complex customer issues. Our new office in Iloilo will supplement our Manila and Cebu operations and create more job opportunities locally. TDCX opened its Manila office in 2014 and its Cebu office in 2019. Since the opening of the Cebu office, TDCX has almost doubled its staff strength in the Philippines. TDCX’s Iloilo office a gateway into Philippines’ upcoming innovation hub Iloilo is anticipated to be an innovation hub by 20303. TDCX’s strategic expansion into Iloilo enables it to entrench itself in the local innovation ecosystem and work with other stakeholders to enhance the outsourced customer experience industry’s competitiveness on the global stage. Ms Acuña said, The outsourced customer experience industry is increasingly important in the growing digital economy. As consumers live more of their lives online, their experience becomes a more significant factor in brand preference and loyalty. Hence, this is a very exciting time for our industry and our people. With our positive work environment, attractive client roster and interesting and fulfilling work, we look forward to growing with our people and equipping them with future-ready skills that will help them stay competitive in the new economy. New economy jobs are emerging professions that reflect the continuing importance of human interaction, according to a report by the World Economic Forum4. The report also states that demand for both “digital” and “human” factors in the professions of tomorrow is driving greater demand for roles such as customer success specialists. To equip its people with the skills for new economy jobs, TDCX provides a wide variety of training programs through a mix of structured and unstructured learning environments. TDCX’s online learning and training programs known as "Flash Coach" and "Flash Learn" provide employees with access to training virtually and on-demand. In addition to job-specific training, employees also receive training in critical thinking, problem-solving and agility. These are among the top skills that are needed by 2025 as identified by the World Economic Forum. Employees are empowered to complete the modules at their own pace while managing their day-to-day responsibilities. The training content is continually refreshed based on analytics from the platform. In addition, TDCX provides employees access to leadership programs such as Dale Carnegie training and online tools such as LinkedIn Learning so that they may voluntarily gain new skills. TDCX’s Iloilo campus is located at Robinsons Cybergate Iloilo Tower 1 in Pavia. About TDCX Singapore-headquartered TDCX provides transformative digital CX solutions, enabling world-leading and disruptive brands to acquire new customers, to build customer loyalty and to protect their online communities. TDCX helps clients achieve their customer experience aspirations by harnessing technology, human intelligence and its global footprint. It serves clients in fintech, gaming, technology, home sharing and travel, digital advertising and social media, streaming and e-commerce. TDCX’s expertise and strong footprint in Asia has made it a trusted partner for clients, particularly high-growth, new economy companies, looking to tap the region’s growth potential.TDCX’s commitment to delivering positive outcomes for our clients extends to its role as a responsible corporate citizen. Its Corporate Social Responsibility program focuses on positively transforming the lives of its people, its communities and the environment.TDCX employs more than 17,000 employees across 26 campuses globally, specifically Singapore, Malaysia, Thailand, Philippines, Mainland China, Hong Kong, South Korea, Japan, India, Romania, Spain and Colombia. For more information, please visit www.tdcx.com.

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