Upload
others
View
4
Download
0
Embed Size (px)
Citation preview
BMO SPEND & PAYMENT SOLUTIONS® VOLUME 13 • ISSUE 1 • SUMMER 2012
Letter from the Executive Managing Director / 2Using your magnetic stripe card in a Chip and PIN world / 3The changing Canadian payments landscape / 4details Online home page redesign / 7What’s new with Diners Club International? / 7
IN THIS ISSUE
Business travel can be stressful.
Whether it’s navigating security
at the airport, filling out expense
reports, or ensuring that travel
decisions are all made in
accordance with company policies
and procedures, there are
challenges throughout the journey.
If happy travellers are productive
travellers, it’s in a corporation’s
best interests to make their road
warriors happy. But how?
Reduce traveller stress One of the greatest frustrations travellers face is getting
through security. Joe Monaghan, a BMO Spend & Payment
Consultant with almost 30 years of product
development-focused industry experience, recommends
making use of available technology to reduce the stress of
getting to and from destinations and dealing with the
inevitable challenges. “Technology lends itself very well to
making travel easier… We can alleviate some of the business
travellers’ frustrations by leveraging platforms that are
available to us today.”
One of the most powerful tools
is one your employees probably
already have – the smart phone.
Get to know your smartphone1. Why not leverage smart phone
technology to allow quicker passage
through security? Traveller
information, including boarding
pass, can be stored and accessed
on a smart phone.
2. Some restaurants and coffee
shops allow you to pay with a smart phone.
3.There are smart phone applications that can help make
expense reporting simpler. For example, some apps allow
the traveller to take a picture of a receipt and then place it
automatically into the appropriate category of an expense
report. No need to fax receipts back to the office! There is
still some effort involved, but having an expense report
partially filled out by the time the trip is over takes a lot of
work out of filing it. The traveller only needs to edit and
audit the report, instead of creating it from scratch.
ApexSHARING THE BEST IN SPEND & PAYMENTS TRENDS AND INNOVATIONS
Leveraging technology to simplify expense management
Continued on page 5
SPECIAL ISSUETRAVEL & ENTERTAINMENT
http://www.bmo.com/spendandpayment
2
Letter from the Executive Managing Director
Technology is evolving at a remarkable pace. As it does, it changes
how, where and when we do business. With technology at our
fingertips, we can use our cell phones to email, surf the web, do our
banking, and pay for purchases. We now have multiple convenient
methods of payment and record-keeping. Our detailed banking
information is accessible online. Credit cards have new and improved
security features, such as the encrypted microchip.
Increased security has changed the way we travel as well, and has had
an impact on the time it takes us to get from one location to another.
In this issue of Apex, we look at some of the emerging technologies
and the impact they’re having. We share ideas about how to use
technology to meet the demands of your business travel experience
along with solutions that can help you spend less time in security
lines at the border and in airports.
At BMO Spend & Payment Solutions, we strive to provide a suite of
solutions and level of service that always meets and exceeds your
expectations. Our goal is to find ways to help you do business more
simply and productively, whether you’re in the office or on the other
side of the world. We are committed to bringing you solutions that
make it easier for you to streamline your processes, balanced with
the security you’ve come to expect from BMO.
Terry Wellesley
Executive Managing Director and Group Head, North America
BMO Spend & Payment Solutions
Managing Editor:Melanie Da-Silva
Editor:Tanja Vukojevic
Editorial Board:Craig WeinerAndre Blanchard Judy StaffordCynthia SchlesingerLourdes SantiagoCarol FerrettiFrank MarzariPaul Shamon Vic Iwanow Jeremy WylieSandra Radice
Contributors:Joe MonaghanGene KlipinLiora Pelunsky Diana Zajc
If you would like to learn more about how BMO’s products and services can help you, please visit our website atbmo.com/spendandpaymentor contact us [email protected]
http://www.bmo.com/spendandpayment
3
The card payment industry is
continually evolving to provide
customers with greater convenience
and security. Chip and PIN technology
used in Europe, Canada and many
other markets for several years is a step
forward for security. The cards have
a built-in, encrypted microchip that
keeps customer information secure and
makes the card extremely difficult to
counterfeit. Because the card owner’s
four-digit Personal Identification
Number (PIN) is required for
purchases, no one else can use the card.
Chip and PIN technology is convenient,
too. No need to sign a receipt or swipe
your card. Just insert the card and enter
your PIN. And for merchants that do
not have Chip terminals yet, there is a
conventional magnetic stripe to ensure
universal acceptance.
The shift to Chip and PIN technology is
occurring at different paces worldwide.
Canada, most European, Latin
American and Caribbean countries
have converted to this technology,
along with increasing numbers of
markets in the Middle East, Africa,
and Asia-Pacific countries. The U.S.
still uses magnetic stripe cards.
MasterCard magnetic stripe cards are
still accepted and cardholders are
unlikely to have difficulty using them
in major metropolitan areas around the
world. However, outside of major
tourist centers, some merchants may be
unfamiliar with magnetic stripe cards.
If you have any problems, ask the
merchant to swipe the card through the
terminal and follow the prompts.
If the clerk is unwilling, ask to
speak with a store manager or call
MasterCard cardholder assistance at
the number printed on the back of
your MasterCard®*.
Some cardholders have reported that a
limited number of unattended kiosks
at train stations or in parking lots are
programmed only to accept Chip and
PIN-enabled cards. If you know you’ll
be making transactions at unattended
kiosks, it’s a good idea to ensure
that you have cash just in case.
BMO®was the first issuer in the U.S.
to convert an entire consumer credit
card portfolio to Chip and PIN
technology when it converted all
Diners Club retail clients. Now Diners
Club corporate clients in the U.S. have
ability to request Chip cards for their
employees that are frequent travelers.
Using your magnetic stripe card in a Chip and PIN world
TIP:Once you’ve converted to Chip and PIN technology, memorize your PIN. You’ll need it if you’re using your card overseas, but it may be achallenge to remember if you’re not using it regularly on home soil.
http://www.bmo.com/spendandpayment
4
The Canadian payment landscape
provides customers with innovative
options that offer them increased
choice, convenience and speed,
whether they’re spending in person or
online. In fact, debit card transaction
volumes now outpace checks. By 2003,
Canadians were the world’s highest
per-capita users of debit cards.
The increased Chip and PIN
technology, mobile phone payments
and contactless cards make payment
almost instantaneous. Contactless
cards let payment providers capture
many small payments that have
historically been made with cash.
Mobile phones are part of the new
payment trend as well. Chips are either
attached to or embedded in mobile
devices, permitting tap & go payments.
More people have mobile phones than
credit cards, so this is an important
and evolving payment method.
Financial institutions are not the
only payment options anymore.
Approximately 20 percent of all online
transactions take place over alternative
payment systems, and the number is
expected to grow to nearly 30 percent
in the next three years. Even traditional
payment methods are evolving to meet
consumer demand. For example,
though checks are being used less
frequently, customers now have instant
access to copies of their cancelled
checks online.
Canada’s Minister of Finance created
a Task Force for the Payments System
Review and asked them to recommend
ways to bring Canada’s payments
system into the future. The task force
discovered that business to business
(B2B) payments haven’t kept up with
new technology used frequently in
customer to business (C2B)
transactions, and suggested eight
initiatives:
• Support phase-out of customer
checks issued and received by
government
The changing Canadian payments landscape
• Drive government adoption of
e-invoicing and payments
• Campaign to communicate vision
for digital economy
• Provide enablers for small and
medium enterprises to adopt B2B
e-invoicing and digital payments
• Support vertical industry adoption of
B2B e-invoicing and digital payments
• Support insurance industry in
phasing out cheque payments to
customers
• Improve capabilities of core
payments infrastructure
• Enable e-payment by providing
incentives and supportive regulation
These initiatives will help to create
a stable payments landscape, which
is critical for both C2B and B2B
transactions. As payment options
increase and evolve, BMO will
continue to balance innovation and
customer choice with security,
reliability and cost-effectiveness
for consumers and merchants.
http://www.bmo.com/spendandpayment
5
Monaghan envisions a future travel
experience that begins when a traveller
creates an itinerary using an online
booking tool. That itinerary is stored in
the airline’s global distribution system
and is accessible on the traveller’s
smart phone. The itinerary becomes
the framework for the expense report
because it holds pertinent information
– departure and return dates, along
with airline, hotel and car – that is
needed to build the expense report.
When charges are billed by various
vendors within the relevant time frame,
they automatically feed the expense
report. The data is all readily available
to the traveller on the smart phone,
so it’s easy to make any necessary
changes.
From a corporate perspective, this type
of expense report system means that
data will flow directly from the supplier
to the corporation, ensuring its
accuracy. It also makes it easier to
compile and analyze data, which the
corporation can then use to negotiate
deals with different vendors.
Monaghan concedes, “There are
security concerns to be mindful of,
but as the technology improves,
security will improve.” Monaghan
is certain that the technology will
improve. “Frustrations, challenges
and problems breed technology.”
Technology is also being directed
toward expanding payment methods,
as well as simplifying data compilation
and expense reporting.
Payments with memory Corporate travel expense data will
be integrated, making it easier to
personalize and bundle services, to
share experiences with other travellers,
and to recall the history of those travel
experiences.
• Intelligent passenger records
• Digital footprints
– mobile payments and history will
have a positive impact on
personalization
• Contactless cards and group buying
– top and pay, square mobile credit
card reader – cell phones can
become a point of sale machines
– Digital collectives
These technologies are just emerging.
As they become more sophisticated,
they will be directed toward different
payment methods – paying for a meal
using a smart phone instead of a card,
and having the data automatically
placed in an expense report.
Technology can be harnessed to make
travellers as productive as possible
by alleviating some of the common
frustrations. If they get to their
destinations less stressfully, they’ll do a
better job. And that’s a win for everyone.
Our BMO Spend & Payments Solutions
advisors have real-world industry
experience that helps them understand
your business. Their knowledge and
expertise can help you find the
technology solutions that are right
for you. Additionally, BMO has strategic
partnerships with Best in Class booking
and expense management experts.
Talk to us today.
Leveraging technology to simplify expense management Continued from page 1
Tips for travelling withyour tablet device
People rarely leave their cellphones behind on an airplane.They turn them on to checkmessages and email as soon as the “fasten seatbelt sign” goes off.But it’s a different story for theiriPads and e-readers. Tablet devicesare frequently left in seat pockets,and many remain unclaimed,perhaps because the ownersassume that someone has already found and taken them. But thisisn’t necessarily the case.
Airlines have retrieved and areholding hundreds of the devices.They’d gladly return them to theirrightful owners but often can’tbecause most tablet devices don’thave any identifying features.
Tips for travelling with your tablet device:
1. Have your name engraved on it or tape your business card tothe back.
2. Check your seat area carefullybefore disembarking from theplane.
3. Purchase a brightly colouredcase for your device. It’s morelikely to catch your eye whenyou gathering your belongs.Plus, it will be easier to identifyif you’re describing it to theairline’s Lost and FoundDepartment.
http://www.bmo.com/spendandpayment
6
Team building while giving back
BMO Spend & Payment Solutions held its most recent annual sales conference
in Kissimmee, Florida in Fall 2011. Given the economic and social challenges
faced by the residents of this area, and highlighted on the news program
60 Minutes, it seemed appropriate that the team-building exercise be one that
would make a difference in the community.
Approximately 80 members of the BMO Spend & Payment Solutions team spent
several hours at HOME (Helping Others Make the Effort) in Osceola County.
They weeded, cleared brush, trimmed trees, mulched, planted vegetables, swept,
scrubbed, washed windows, sanded and stained picnic tables and a playground
set to improve the appearance of a home for single mothers and children.
The team was thrilled to have the opportunity to make a difference, and the
highlight of the day was the ice cream party for the kids living at HOME.
http://www.bmo.com/spendandpayment
7
details Online® homepage redesign
The redesigned DOL page was launched onSaturday, May 12, 2012 and includes thefollowing enhancements:
• New Banner to display consistent brandacross all our details Online sites
• New Header containing Contact Usinformation
• New Home Page layout/experience
• Introduction of a My Profile link
• Improved Quick Links
• Introduction of Corporate Links and BMO defined Useful Links
• Enhancements to the Corporate Newsand BMO News (System News)
• Introduction of an Administration Message Space and Contact details
• New Footer containing Privacy, Legaland Security links
What’s new with Diners Club International®†?
• Diners Club International has made enhancements to Global Vision,
including a fresh new look, enhanced navigation and a customizable
home page. You’ll also get to the information and reports you need with
fewer clicks.
• Diners Club is pleased to announce that its airport lounge program has
expanded to almost 500 lounges, including eight new ones in Toronto and
Vancouver, Canada. We also have a new presence in Los Cabos, Mexico,
Guam and Mauritius. To see the ever-expanding worldwide listing of
Diners Club lounges, go online to
www.dinersclubinternational.com/airport-lounges.html
• BMO has recently designed the suite of Diners Club International corporate
cards to have its own unique and distinctive look.
http://www.bmo.com/spendandpayment
8
® Registered trade-marks of Bank of Montreal. ®* MasterCard is a registered trade-mark of MasterCard International Incorporated. ®† Diners Club, Diners Club International with the SplitCircle Device and Club Rewards are trademarks of Diners Club International Ltd.
APEXSUE (07/12)
12-622
PreCheckWould you like to reduce your waiting time in airport security lines? You may be able to — now or in the near future, depending on which airportsyou use. The TSA’s new program, “PreCheck,” allows U.S. citizens travellingwithin the U.S. who pass a background check and meet certain undisclosedTSA criteria to use special lanes, keep shoes, belt and jacket on, leave laptopsand liquids in carry-on bags and walk through a metal detector instead of afull-body scan.
Even if you become a TSA PreCheck member, you won’t be guaranteedexpedited security screening. Random screening checks of PreCheckmembers will help maintain security.
Currently only Delta and American Airlines are participating in this program, though several more airlines are expected to join this year. The airlines can invite members of frequent flier programs to join PreCheck. If travellers agree, theirbackground data will be shared with the TSA. PreCheck is free if your airline invites you to join. If you apply on your own,
be prepared to pay $100. If you are already enrolled in the U.S. Customs andBorder Protection’s “Global Entry” program, you can transfer to PreCheck withyour Global Entry number.
NexusIf you travel frequently between Canada and the U.S., consider the NEXUSmembership card. This card expedites border crossing between the twocountries for low-risk, pre-approved U.S. and Canadian citizens, permanentresidents, and legal residents of other countries who are living in the U.S. orCanada temporarily. It costs $50 (CN or US), to apply for the card. Applicantsmust pass criminal history and law enforcement checks by both countries andbe interviewed by a CBSA and/or U.S. CBP officer before being issued aphoto-identification card that allows them to use automated self-serve kiosks in dedicated areas at certain international and Canadian airports and usededicated lanes at the land border.
Consider registering with these programs now to save time and stress.
Did You Know?
A faster, lower-stress way to go through airport security
Upcoming events Please check our website under“News, Articles & Events” forupcoming events where our BMOSpend & Payment team will be inattendance.
July 28-31, 2012 Washington, DC NACUBO (National Association ofCollege & University Business Officers)
www.nacuboannualmeeting.org