Current Affairs - Banking - Discussion

HDFC Bank and Happay, a business expense management solution provider, have entered in to a collaboration to introduce a new prepaid card-linked Travel and Entertainment (T&E) expense management solution which will help Indian firms to efficiently manage their business travel expenditure. Through Happay-HDFC Bank prepaid cards and Happay mobile app, employees of the companies will be able to seek trip advances, get trip itineraries pre-approved by management, do trip bookings and even file trip expenses digitally. This solution will be equally useful from Company's management, as it will help to manage employee cards online - from loading and withdrawing funds from cards, activating and deactivating cards, setting card limits and view travel spend analytics. This solution holds special significance in context of a report published by Forrester Research (an American market research company) which highlighted that Indian business travel is on the rise and T&E expense still remains the second most difficult operating expense to control in an organisation.