American Express Global Corporate Payments and global hotel reservation platform HRS have teamed up to launch a cashless virtual payment solution for hotel stays.
Hotel bills can be settled by travel buyers centrally without cash or credit card payments changing hands at hotel check-in desks with a single-use virtual account number.
It enhances transparency in business travel charges and adds an extra security layer, HRS said, with pre-approved transaction cost and time limits.
"For business travellers, both booking and accounting becomes far easier. What’s more, the travel manager receives detailed reports of all hotel bookings and invoiced billing amounts through the payment solution. This is done digitally, which makes the processes far more efficient and cost-transparent," said Tobias Ragge, CEO of HRS.
"The v-Payment is recommended for all centrally arranged expenses, but in particular, for handling hotel bookings for travelers who don’t have a company credit card," added Karen Penney, VP of American Express Global Corporate Payments UK.
Penney also highlighted reduced foreign exchange costs for companies sending travelers overseas, as vPayment accounts can be set up in US dollars, Euros or UK pounds.
The system is available this month in 20 European markets and can be used in all hotels worldwide that accept American Express payments.
