Companies from across Europe are investing in digital payment platforms with security the top consideration when choosing an upgraded system, according to a survey from payments specialist AirPlus.
The poll of more than 500 purchasing managers in nine countries, including France, Germany, Italy and the UK, found that 38 per cent had already introduced new payment methods at their organisations with another 41 per cent currently looking at doing so.
While 72 per cent of managers said that introducing new payment platforms was mainly targeted at customers, nearly half (49 per cent) mentioned that it was also to help their business travellers.
The most important characteristic of these new payment solutions for purchasers was security, which was mentioned by 58 per cent of respondents, followed by reliability (45 per cent) and transparency (31 per cent).
The AirPlus study also revealed that most companies had already invested in or planned to invest in digital payment platforms which could increase the automation of processes.
The top priority for companies when considering their payment arrangements was to minimise risk, followed by simplifying processes for employees so they can “focus on their core tasks”.
Stefan Waelde, head of business development for B2B payments at AirPlus, said companies were “not afraid to invest” in new digital payment platforms.
“The days when employees had to pay in advance with personal credit cards – for example, when ordering and paying via online shops – and the accounting department had to struggle through mountains of paper invoices are long gone,” he added.
AirPlus revealed a new brand identity in November after it was acquired by Sweden’s SEB Kort Bank from previous owner Lufthansa Group for €450 million last summer.