TripActions Launches Virtual Card Product for Corporate Travelers
Photo Credit: An example of the new TripActions credit card in use at a coffee shop. TripActions
Skift Take
Virtual cards aren't anything new in corporate travel, despite limited adoption. But stronger integration with travel booking apps like TripActions could help mainstream the technology, which benefits both travelers and administrators.
As the global battle for the lower end of the corporate travel management market rages on, top players are beginning to move beyond travel itself into solving problems above just booking and servicing.
TripActions has been steadily growing its travel management platform and now boasts a global workforce of more than 1,000 as it moves into markets around the world. Its new product looks beyond travel to help both travelers and administrators handle one of the most annoying parts of corporate travel: payments.
The company launched a virtual card payments product under the name TripActions Liquid today, secured by a $500 million debt facility led by Silicon Valley Bank. Companies can now issue a physical Visa credit card to their travelers for use booking travel on TripActions and for spending on the road, easing the burden on travelers' own finances while giving travel managers real-time information on wha
