Business digitization and digital wallets
Business digitalization seeks to optimize internal processes through technology and present additional opportunities for increasing value or revenue. The use of digital wallets is just one way that a business can start to transform digitally, providing they have the appropriate financial software to support them.
Digital wallets or e-wallets are applications that allow users to store their personal credit card or company credit card information. They then use a mobile device to pay; instead of paying with a credit or debit card, this makes for a much faster and more secure process than traditional methods, as there's no need to carry around cash.
At a time when everyone is looking to enhance and simplify daily processes, it's no surprise that payment options offering flexibility are increasing in popularity. Users can track their real-time transactions without the need to open their online banking applications.
Payhawk, digital wallets, and your company cards
Payhawk now integrates two of the most popular digital wallet solutions, Google Pay and Apple Pay.
What inspired us to add this to our set of features and Enterprise Suite? The same reason that we develop all of our features. We want to help businesses to have seamless payment and expense management experiences. By integrating with digital wallets, we have helped make company cards more reliable for users and ensure a quick and easy payment process.
"Managing cash is expensive, risky, and cumbersome. I think we, as a society, should aim to become cashless on all fronts," Gilles Feith, CEO at LuxAir, а Payhawk customer, said.
The world is going cashless, so it's only natural to build integrations that enhance accountability and make business spend traceable and easy to manage.
Card security and payment convenience
Digital wallets offer added security and convenience, which are both fundamental components to our product offering at Payhawk.
Convenience is essential. We want our users to have synergy between their Payhawk cards and other work software. Digital wallet accessibility is enviable; users simply have to unlock their devices. All Apple devices support Apple Pay, while the Google counterpart is compatible with Android. And both e-wallets enable online payments, which makes e-commerce feel effortless.
Security is a major component too. And it's woven into every feature that Payhawk releases. Neither Google nor Apple Pay stores users' card details on their devices or provider's servers. Instead, Apple Pay uses a device-specific number and a unique transaction code. At the same time, Google creates a temporary code to handle the transaction instead of sharing your payment details directly with the merchant. These methods ensure an extra layer of protection, on top of Payhawk's security, and protect users' money if their device gets stolen or hacked.
With the addition of Google Pay and Apple Pay to our payment options, Payhawk can help your business make both cashless and cardless payments. Download the ebook to learn how and why businesses big and small use virtual and physical company cards to spur business digitization and become cashless.