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 STUDY: ACCELERATING THE REAL-TIME PAYMENTS DEMAND CURVE – NOVEMBER 2020

About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.

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