Bank of America Merrill Lynch (BofAML), a commercial card issuer with operation in EMEA, has launched a business travel payment solution, BofAML Travel Pro, to enhance travel expense management for clients in the region.
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Designed specifically for business travel expenditure, BofAML Travel Pro will allow companies to centralize their travel spend and capture detailed data using a unique 16 digit virtual card account number for each transaction integrated with a travel management company.
The solution will extend a company’s central purchasing capability from predominantly airline tickets to rental cars, hotel rooms and rail tickets besides providing greater control over where and how their employees travel, thereby saving cost and time and reducing reconciliation issues.
BofAML Global Transaction Services (GTS) EMEA co-head of product management Matthew Davies said: "Commercial Cards are integral to our GTS offering and this launch is part of our commitment to developing new products and technology to deliver solutions that address our clients’ needs and provide a consistent experience as they expand their card programs."
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By GlobalData
