When Amazon announced the launch of its B2B service, Amazon Business, in the U.K. earlier this month, Visa simultaneously revealed that it is working with Amazon Business to link its commercial cards within Amazon Business to help clients manage expenses and spending. This week, Visa said it is bringing that same collaboration to the U.S.
An announcement Monday (April 10) by the credit card company said it will enable a comprehensive view of Amazon Business purchases made with its commercial cards. That includes line-item details, Visa said, with that data able to integrate into 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 Visa Global Head of Products and Solutions Vicky Bindra in a statement. “Visa’s collaboration with Amazon Business and our bank partners will ultimately help our commercial account holders 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 feature will first be available to commercial cards issues through Bank of America, Citi and PNC Bank, Visa noted.
“B2B payments require enhanced data for proper audit, reporting and purchasing control,” said Citi Treasury and Trade Solutions Global Commercial Cards B2B Product Head Morgan Salmon in another statement. “We are pleased to join Visa and Amazon Business in offering a streamlined purchase and reconciliation process for our clients.”
Amazon Business first rolled out in 2015 as Amazon looked to strengthen its position in the B2B eCommerce and procurement space.
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