|February 25, 2014|
AirPlus International Announces Company Account On The MasterCard Network In The U.S.
|AirPlus International announced today the introduction of its Company Account on the MasterCard(r) network. The central bill solution previously ran on the UATP network and will provide the same functionality when it runs on the MasterCard network.|
Developed in coordination with its United States strategic bank partner, JPMorgan Chase Bank, N.A., the Company Account on the MasterCard network was designed for large, United States-based multinational enterprises.
"By bringing the Company Account to the MasterCard network in the U.S., AirPlus has shown its trendsetting approach to product development, providing local solutions tailored to key business travel markets around the world," said Patrick W. Diemer, Managing Director, AirPlus International. "This United States-focused offering continues a heavy influx of investment for our firm in the Americas."
According to J.P. Morgan Global Commercial Card President Molly Walsh, "J.P. Morgan and AirPlus worked together to enhance a central payment solution designed to support large, global travel programs based in the United States and help improve how travel expenses are managed."
Central bill solutions have historically been viewed as an effective approach to travel management, increasing policy compliance, reducing the risk of fraud, and providing for greater transparency into travel costs.
"This solution offers key advantages for both the travel manager and the traveler," said Volker Huber, President, Americas, AirPlus International. "Firstly, it utilizes AirPlus' comprehensive reconciliation process, saving program administrators' time and reducing the risk of errors. Secondly, it eliminates the need for travelers to file their big-ticket items -- air, rail, hotel, car rental -- on their expense reports, cutting down on time, and limiting the amount of credit they carry on their individual corporate cards."
The product will be available in 2014 to U.S.-based clients of the J.P. Morgan | AirPlus strategic partnership, pending successful end-to-end testing and a pilot program.