Collaboration Drives Corporate Card Product Innovation

This week’s Commercial Card Innovation roundup is once again highlighting the value of collaboration.

Industry heavyweights including Mastercard and Visa are embracing the partnership model whether to introduce corporate card products to market or enhance existing solutions with value-added functionality. Plus, American Express looks beyond the card to expand small- to medium-sized business (SMB) services.

Mastercard Teams With SAP Concur In APAC

In the Asia Pacific (APAC) region, Mastercard is collaborating with travel and expense management platform SAP Concur to integrate each other’s offerings. The tie-up will see transactions on Mastercard corporate card products automatically integrated into SAP Concur, the result of rising demand among businesses for greater visibility and automation within their spending workflows. Their joint offering will be available to banks, corporates and government entities in the APAC geography.

Visa Debuts pliant Business Card In Germany

A new partnership between Visa and FinTech pliant will see the corporate card FinTech rolling out its Visa Infinite Business card product in Germany. The solution is geared toward SMBs as well as corporates, with the cards supported by mobile wallets, online gateways and physical point-of-sale (POS) devices across an estimated 200 countries. In addition to the card solution, business users can integrate transaction data into an accounting platform, benefit from a cash back program and automate reporting.

Emburse Debuts Integrated Corporate Cards

Expense management and accounts payable (AP) automation solution provider Emburse is debuting its corporate card product to enhance its employee spend management offering. The company said this week that it is rolling out Emburse Cards integrated with its Captio expense automation platform, allowing employees to no longer have to file expense reports and seek reimbursement when making purchases for their businesses. The solution supports prepaid virtual or physical cards, while employers can automate spend compliance with company policy and obtain real-time visibility into spend.

HSBC Launches Virtual Corporate Cards In UAE

Targeting businesses in the United Arab Emirates, HSBC has announced the rollout of its virtual debit corporate card solution for businesses in the market. The HSBC Virtual Debit Card will operate on the Visa platform and allow businesses to arm employees with single-use virtual card numbers tokenized for specific transactions to promote security. In a statement, Kailash Nair, HSBC regional head of Commercial Cards in the Middle East North Africa and Turkey, said there is an “increased demand for more flexible payment channels” among businesses.

WEX Bank Lands Fleet Card Partnership

WEX Bank, a subsidiary of WEX, has announced a partnership with NASPO ValuePoint. NASPO ValuePoint, the purchasing division of the National Association of State Procurement Officials (NASPO), will connect its member state and local government entities to fleet card services in the form of WEX’s Universal Fleet Card tools. The tie-up aims to reduce the volume of purchase orders that these government entities require in order to secure permission to procure fuel.

American Express Looks Beyond Cards For SMBs

While commercial card innovation continues to accelerate, American Express is exploring the potential of launching SMB working capital solutions beyond the card itself. The company is exploring the rollout of SMB loans in Australia to compete with both big and neobanks in the region. The company is planning to introduce SMB loans to small business American Express cardholders, as well as merchants that accept American Express.