Whatever the reason, it’s clear that businesses are increasingly willing to invest in their teams’ learning and development. And this is a trend we’re seeing around the world.

economic conditions which are putting pressure on businesses to not just attract but retain and upskill existing talent to address skill gaps.

There are a few ways we can explain this trend: Modern workflows have brought about increased use of specialized digital platforms, requiring specialized knowledge to use. Then there’s the tough

Spending on employee training is growing fast. By the end of 2024, it’s expected to reach a value of over $400 billion globally – up from $383 billion the year prior.

The data shows this trend towards online trainings in action.

But traditional payment methods aren’t fit for this purpose, and so businesses regularly lose out on early-bird discounts or even a chance to attend classes with limited placements.

Employees usually aren’t supposed to make partial advance payments either, as this would lead to chaos with billing.

With trainings increasingly being sold through digital channels that reward prompt, early payment – often requiring the use of credit cards – it pays to be agile.

However, the nature of the training industry makes providing such opportunities to your employees difficult.

2021

2022

2023

2024

* Global workplace training industry market size (in $ bn)

Online learning platforms

Conferences and events

University

That’s why we’re seeing more and more businesses turning to virtual cards to make these payments.

Physical credit cards have their drawbacks: Not all employees have access to their own credit card, and so payment must be made by others or card details shared around – hardly a convenient or secure solution.

Traditional training venues like conferences and events, as well as universities, are still popular for employees. But what remains constant across the board is the use of online payment channels where cards are most convenient.

These platforms allow employees to learn and develop specific skills while earning industry-recognized certifications. These range from broader skills relating to project management and Scrum, to software-specific training from providers like Microsoft and Udemy.

Online learning platforms made up the majority of learning and development spending among AirPlus Virtual Card users.

Convenient and secure payments

Easy centralization of
diverse expenses

Straightforward handling
for employees and
accounting teams

Efficient administration,
processing, and settlement

Dynamic control and
transparency

Individually definable card limits

Virtual cards are the ideal payment method for the modern employee training market. Thanks to real-time control, high quality data, and easy payment, you can enable the learning and development of your employees and remain competitive – made possible by AirPlus Virtual Cards Procurement.