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May 2, 2014

Wells Fargo expands commercial card portfolio to Europe

Wells Fargo & Company has expanded its commercial card portfolio to Europe by offering the European Commercial Card.

By Verdict Staff

Wells Fargo & Company has expanded its commercial card portfolio to Europe by offering the European Commercial Card.

Supported by MasterCard, the Wells Fargo European Commercial Card can be used in 37 million outlets across the globe.

Mary Mazzochi, senior vice president and manager of the Commercial Card product suite at Wells Fargo, said, "Our middle market and large corporate customers are increasingly conducting business globally."

"The European Commercial Card solution is designed to streamline our customers’ purchasing process in pound sterling or euro, whether it’s for small purchases, travel and entertainment, or large expenditures."

"The European Commercial Card product launch follows successful introductions in the United States and Canada and rounds out our international program offering based on our customers’ needs," Mazzochi added.

Leveraging a global card expense reporting tool through Wells Fargo’s Commercial Electronic Office (CEO) portal, the European Commercial Card solution balances enhanced controls and local, regional, and global management oversight with international traveler convenience.

This tool enables company financial officers and their staff to monitor commercial card transactions, including travel expenditures (e.g. airfare, hotel, rail), use data for local, regional or global strategic sourcing opportunities, and maintain visibility over expenses.

The European Commercial Card has been supported by 24/7 multilanguage customer service.

The company further said that all new USD WellsOne Commercial Cards will be embedded with microprocessor chips defined by E.M.V. (Europay, MasterCard, and Visa) standards.

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