Amazon

Visa Unveils Detailed Payment Data For Amazon’s Business Customers

Anyone who’s worked in corporate America for longer than a second can understand the agonizing annoyance at entering in every item purchased on a company credit card. Amazon is looking to make this process a bit easier for those who use Visa.

Through its Amazon Business offering, those customers will have any purchases made on corporate Visa credit cards transcribed seamlessly with company tools. Commercial account holders that will immediately receive this offering include Bank of America Merrill Lynch, Citi and PNC Bank.

Visa’s Global Head of Products and Solutions, Vicky Bindra, commented on this new Amazon Business offering and what it means for those commercial account holders: “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. 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.”

In addition to the detailed line item feature, commercial card holders will also have access to free two-day shipping, customized account management tools and shipment tracking. This offering is likely to propel the eCommerce giant to new heights. If any other eCommerce sites were wondering whether or not taking on Amazon was possible, the race just got a little bit tighter.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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