Market Overview

Mastercard Commercial Cardholders Get Even Greater Transparency into Amazon Business Purchases

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Bank of America Merrill Lynch, Barclays Bank PLC, Citi, J.P. Morgan,
Lloyds Bank, NatWest and The Royal Bank of Scotland are the first to
offer this enhanced transaction data to Mastercard commercial cardholders

Digital innovation is transforming the way we do business, making
existing processes simpler, smarter and faster. Today, Mastercard
announced an upgrade to the back office experience for commercial
cardholders by providing enhanced data for Amazon
Business
transactions.

For many businesses, reconciling B2B transactions can be challenging due
to lack of robust reporting tools. Goods and services are sourced and
shipped from a large number of suppliers, leaving business customers
with a tremendous volume of expenses to process and often little
information for each transaction.

With this collaboration, mid and large-size businesses now have a more
intuitive and transparent way to understand and manage their expenses. A
detailed understanding of each line-item, such as item description,
price and relevant tax information, for all Amazon Business purchases,
helps businesses better track expenses, expedite financial
reconciliation and streamline the filing and auditing of expense
reports. This product is currently available in Germany, the United
Kingdom, and the United States for Mastercard commercial cards issued by
Bank of America Merrill Lynch, Barclays Bank PLC, Citi, J.P. Morgan,
Lloyds Bank, NatWest and The Royal Bank of Scotland.

"More detailed transaction data helps make doing business easier," said
Jeff Feuerstein, senior vice president, Commercial Products, Mastercard.
"Our collaboration with Amazon Business streamlines financial reporting
and cuts down on time spent reconciling transactions against statements.
It gives our customers a clearer understanding of money spent."

Companies that enroll Mastercard commercial cards through bank partners
are able to:

  • View the details, quantities, unit price and tax for individual items
    they purchase
  • See the shipping amounts associated with the financial charge
  • Directly update information either in their expense management system
    or in the Smart Data platform

Mastercard has enhanced Smart Data, its market-leading, expense
reporting and analytics suite, to leverage this enriched data to provide
new reports and custom reporting tools. This capability is available to
enrolled commercial card programs from participating financial
institutions. Mastercard Smart Data is used by nearly 250 issuers
globally.

About Mastercard
Mastercard (NYSE:MA), www.mastercard.com,
is a technology company in the global payments industry. Our global
payments processing network connects consumers, financial institutions,
merchants, governments and businesses in more than 210 countries and
territories. Mastercard products and solutions make everyday commerce
activities – such as shopping, traveling, running a business and
managing finances – easier, more secure and more efficient for
everyone. Follow us on Twitter @MastercardNews,
join the discussion on the Beyond
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