Jim Noonan’s Post

✈️ Transform Corporate Travel Payments with Travel Clearing Managing corporate travel payments doesn’t have to be a juggling act. At Travel Clearing, we simplify and streamline your corporate travel program with a powerful centralized solution that combines Virtual Cards and eVouchers, tailored for both global and Nordic transactions. 💼 The Power of Centralized Travel Payments Bring all your corporate travel expenses into a single, efficient process: Granular Reporting with Level 3 Data: Access enriched transaction data, including booking specifics and cost centers, for actionable spending insights. Strong TMC Partnerships: We partner with leading TMCs to integrate seamlessly into your processes, ensuring continuity and compliance. Policy Compliance Made Easy: Our embedded payment solutions help employees stay aligned with your company’s travel policies. 🌍 Global Reach, Local Precision Global Payments with Virtual Cards: Enable secure, traceable payments for international travel needs, including hotels, car rentals, trains, and taxis—with unmatched visibility and reduced fraud risk. Nordic Simplicity with eVouchers: Simplify local transactions in the Nordics with direct eVoucher payments linked to Travel Accounts, minimizing administrative complexity. 📊 Why Choose Travel Clearing? Unmatched Transparency: Enrich each transaction with Level 3 data for a clear view of spending and better decision-making. Automated Reconciliation: Eliminate manual tasks with payments that match booking records automatically. Better Employee Experience: Eliminate out-of-pocket expenses and complex reimbursement processes, so employees can focus on what matters. 🛠️ How It Works 1️⃣ Booking: Employees book travel through your TMC, ensuring seamless compliance. 2️⃣ Payment: Our system intelligently selects the optimal payment method—Virtual Cards or eVouchers—based on the transaction type and location. 3️⃣ Reconciliation: Enriched payment data syncs automatically, offering your finance team detailed insights without the manual workload. 📈 The Result? A centralized payment solution that: Saves time by automating processes. Reduces costs and fraud through secure, transparent payments. Empowers employees with hassle-free, compliant payment options. 💡 What’s your biggest travel payment challenge? With us, payments don’t just get simpler—they work smarter for you. Let’s start a conversation about transforming your travel expense management. 👉 Ready to simplify your corporate travel payments? Ask your TMC about Travel Clearing or contact us today to learn more. #businesstravel #TMCpartner #CorporateTravel #eVouchers #VirtualCards #Level3Data #TravelClearing

For those who don’t yet know us (or could use a refresher), here’s the scoop on what we do at Travel Clearing and how we simplify business travel payments. Think of Travel Clearing as the “invisible” assistant managing your corporate travel expenses. While others handle the flights, we’re working quietly in the background to centralize every other payment—hotels, taxis, car rentals, and more—straight to your travel account with Amex, First Card, Diners/Eurocard, or AirPlus. No matter the payment method, Travel Clearing will automatically choose the best option—whether it’s a virtual card or a direct payment—and in the end, it all gets collected in one place: your travel account. Why does that matter? Because with everything automatically processed, tracked, and reconciled into your travel account, your finance team gains full visibility, fewer errors, and less time spent chasing receipts or tracking down expenses. And for traveling employees, it means less out-of-pocket spending, no lost receipts, and more freedom to focus on the purpose of their trip, not the paperwork. Plus, we’ve partnered with all the top TMCs, so our solution is widely available without the need for lengthy development projects—just a seamless, integrated experience that keeps travel spending on track. It’s a smarter, simpler way to bring clarity and control to corporate travel, while making life easier for everyone on the road. Ready to see how Travel Clearing can transform your travel payments? Let’s connect and make business travel simpler, smarter, and stress-free. #TravelClearing #CorporateTravel #businesstravel #BackOnLinkedIn

Adoption of virtual card solutions is on the rise and projected to continue to grow, including spend on virtual cards used for corporate travel. Interesting insights I wanted to share. #brilliantlyboring #pncbank #commercialcard

MakeMyTrip to acquire Happay from CRED: Online travel company MakeMyTrip has signed a business transfer agreement to acquire Happay Expense Management Platform from CRED. Happay was acquired by CRED in late 2021 in a deal worth $180 million. Entrackr exclusively reported the acquisition at that time. Happay provides expense management for corporates to manage travel and tax benefits for their employees. The company offers specialized solutions for large businesses with multiple branches and surface logistics companies. Under the new agreement, the Happay brand, its expense management business, and its dedicated team will transition to MakeMyTrip. The transaction is expected to close within the next 90 days, subject to closing conditions. According to the press release, Happay’s team will continue to support the existing client base while working in close partnership with MakeMyTrip’s corporate travel services team. “The acquisition of Happay’s brand and expense management platform is a natural next step in our strategy to lead this space. By integrating Happay’s expertise, which spans over 900 corporate clients, MakeMyTrip is set to redefine the benchmarks once again in corporate travel and expense management in India,” said Rajesh Magow, co-founder and Group CEO, MakeMyTrip. Happay’s payments business and team, which has focused on developing an innovative technology stack and business payments products, will remain with CRED. Most recently, this vertical launched B2B payment solutions on Bharat Connect in partnership with NPCI. “Our focus at CRED is on developing products that enable financial progress. By enabling each vertical to play to its strengths, we’re positioning both teams - who’ve built market-leading products and capabilities - to scale in their domains. I’m excited about the payments team’s opportunity to transform the B2B payments experience into one that’s frictionless, reliable, and one that’s set for rapid growth,” said Kunal Shah, founder, CRED. MakeMyTrip claims to serve more than 59,000 corporate clients via MyBiz (a platform for small and medium-sized corporates) and more than 450 large corporates through Quest2Travel (a platform suited for large enterprises). MakeMyTrip, listed on the Nasdaq, reported a revenue of $211 million for the second quarter of this fiscal year, a 24.3% increase compared to the same quarter in the previous fiscal year. For the quarter ending September 30, 2024, the company posted a profit of $17.9 million, up from $2 million in the second quarter of fiscal year 2024. While details on the value of the deal are not available yet, the fact that CRED has retained the payments business indicates the strategic nature of the hive off.  But it seems safe to say that CRED will be taking a write off on the deal, with only the quantum to be figured out.  Nothing wrong in a change of plans, and with the frenetic… #MakeMyTrip #Happay #CRED

The Insights for Travel dashboard pulls complete data from companies' spending and lets finance and travel managers view them by booking type—such as airfare, hotel and ground transportation—and see breakdowns on spending based on categories like client or project, according to Center. Dashboards within Insights include views of departmental spending, booking behavior, vendor negotiations and policy compliance.

Introducing BCD’s new Principles of Payment library, a vault of educational materials to build understanding of #PaymentAndExpense management so travel teams are in control – not the other way around. Learn more: https://ow.ly/5ubR50Tt8bL BCD Travel

The very best source of travel data should really be found in a company's expense system. With few exceptions, all travel expenditures end up in the expense system whether you book through a traditional TMC, a supplier website, or OTA. And in today's world of content fragmentation and more consumer choice than ever, Finance and Travel should be best friends! Alas, the two remain largely at arms length which results in travel struggling with data and finance losing efficiency. This is a problem that can be solved. My latest blog digs into why finance, and more specifically, automated expense should be a panacea for corporate travel owners today more than ever. #BusinessTravel https://lnkd.in/e2V6Ds4J

The very best source of travel data should really be found in a company's expense system. With few exceptions, all travel expenditures end up in the expense system whether you book through a traditional TMC, a supplier website, or OTA. And in today's world of content fragmentation and more consumer choice than ever, Finance and Travel should be best friends! Alas, the two remain largely at arms length which results in travel struggling with data and finance losing efficiency. This is a problem that can be solved. My latest blog digs into why finance, and more specifically, automated expense should be a panacea for corporate travel owners today more than ever. #BusinessTravel https://lnkd.in/e2V6Ds4J

Does your business spend hours each month on the reconciliation of hotel spend? Through the implementation of a virtual payment solution, CTM helped a customer improve the efficiency of their travel program, saving time, and money. Learn how: https://okt.to/trXklN #casestudy #BusinessTravel #expensemanagement #travelsolutions

If you have the new ANNA card it’s simple and easy to book business travel through Final Price and get cashback at the same time 🤑 We’ll walk you through the process, but first of all we thought we’d look at how travel expenses work. #cashback #businessaccount