Bank of America Merrill Lynch (BofAML) has launched business travel payment solution ‘Travel Pro’, designed for business travel expenditure.
Using a 16-digit virtual card account number for each transaction (integrated with a TMC), Travel Pro allows companies to centralise their travel spend and capture more detailed data.
BofAML said the solution will save time, improve spending control and reduce reconciliation issues.
BofAML co-head of product management for global transaction services (GTS) EMEA Matthew Davies, said: “Commercial cards are integral to our GTS offering and this launch is part of our commitment to developing new products and technology to deliver solutions that address our clients’ needs and provide a consistent experience as they expand their card programmes.”
Melissa Gargagliano, head of commercial cards for GTS EMEA, said: “BofAML Travel Pro extends a company’s central purchasing capability from predominantly airline tickets to rental cars, hotel rooms and rail tickets.
“This new functionality will provide our clients with greater control over where and how their employees travel, which in turn, will drive cost savings and help maintain travel bookings within company policies,” she added.
Travel pro is available in 27 countries across EMEA and will be followed by a global rollout.