Visa Offers Amazon Business Cardholders Enhanced Transaction Details
Visa is the first card issuer in the United States to offer its business customers a comprehensive view of their Amazon Business purchases. These enhanced features will give Visa commercial card holders line-item details of their purchases and the ability to integrate this data with popular reconciliation tools.
“Tracking and reconciling online purchases made with commercial cards can be a time-consuming task, and at Visa, we are continuously looking for innovative ways to simplify the process,” said Vicky Bindra, global head of products & solutions at Visa Inc. “Visa’s collaboration with Amazon Business and our bank partners will ultimately help our commercial accountholders in the U.S. spend less time on reconciliation of their purchases and allow more card management options – all with the existing value and cost-savings that come with an Amazon Business account.”
The functionality, which will first be made available to Bank of America Merrill Lynch, Citi and PNC Bank, works with Amazon Business, a service that offers a number of benefits, including:
- The ability to search, compare and buy products from suppliers on Amazon, including a business-only selection and pricing.
- Free two-day shipping on eligible orders of $49 or more.
- Tracking of multiple shipments from one account, which eliminates the hassle of dealing with many suppliers and multiple invoices.
- Account management tools, including the ability to set up multiple user accounts and spending limits.
“As organizations’ buying patterns move toward online marketplaces, access to this critical data will help with reconciliation and audit,” said Jennifer Petty, head of Card and Comprehensive Payables for Bank of America Merrill Lynch. “We’re excited to announce this strategic relationship with Visa and Amazon Business to deliver this valuable service to our clients.”