Diners Club Spain, in the process of transforming itself into a leader in B2B payment solutions
Diners Club Spain is culminating a strategic transformation process to become the leader in B2B payment methods. This was stated by Jos & eacute; Maldonado, CEO and general manager of the company, during the celebration of the II Foro de Agencias de Viajes, with the presence of general, commercial and financial directors of the main travel agencies in the country.
In his speech, Maldonado stressed that “the management of non-strategic expenses has much room for improvement, and at Diners Club Spain we intend to provide a solution to their drawbacks”. The strategic ones, however, are fully under control," he added.
In this sense, the company's CEO is committed to continue advancing in this strategic objective by 2024, to consolidate Diners Club Spain's leadership position in this type of payment.
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Why is it important to focus on non-strategic payments? To this question, the CEO of Diners Club Spain gives several explanations: "Because of their weight, because they are complex, because of the cost of managing these purchases and because of the excessive volume of manual processes they entail.
In addition, “there are unresolved friction points”, he explains, such as fraud, poor exploitation of information, excessive manual administrative tasks, high transaction cost, delayed payments and excessive decentralization.
To solve this, "our transformation process is oriented to the trends that are setting the trends in the design of B2B payment solutions: process automation, user experience, the exploitation of data intelligence to improve risk and liquidity, new online payment methods, the irruption of automated devices for payment, as well as the use of new payment methods;The company concludes that the use of new payment methods, as well as the optimization of purchases in cross-border terms, because conditions with foreign exchange operators in small payments tend to be expensive.
For his part, during the meeting, Raúl Sánchez, Commercial and Business Development Director of Diners Club Spain, analyzed where the industry of payment methods associated with business travel is heading. We are facing a new paradigm caused by the economic changes and the strong impact of the rise in interest rates from 2022," he said.
Segón Sánchez, Diners Club, in its commercial proposal, provides added services of great value for companies. These include the reconciliation between the agency invoice (accounting) and the Travel Account statement (payment), the coverage and usability of insurance coverage, the information and management of data and the consultative management by its sales team.
In her speech, Jessica Püttmann, Product and Marketing Director of Diners Club Spain, told how Diners Club Spain has evolved from a mere issuer of credit cards to what it is today: “a payment facilitator focused on B2B payment solutions”. Püttmann also focused much of his presentation on explaining the features and benefits of virtual cards. For Püttmann, the virtual card payment option provides payment security, detailed information on expenses and traceability, the latter also aimed at facilitating reconciliation. In addition, Püttmann emphasized that these are solutions that provide financing; flexibility of use, agility in payments, as well as exhaustive control of long-tail expenses.