After several delays, India’s central bank this fall enacted payment security rules prohibiting the storage by merchants of customers’ credit card details. Instead, digital tokens would stand in. Not entirely ready, the travel industry got an extension, to June 2024, to work out how to use tokens when intermediaries like GDSs, TMCs and OBTs are…
As part of an effort to automate business-to-business transactions for 40,000 customers that use its enterprise resource planning software, Oracle Corp. on Wednesday announced corporate card integration with JPMorgan Chase. The travel card and expenses initiative would reduce the expense reimbursement cycle through a new touchless mobile experience. “When a mutual customer’s linked JPMorgan corporate…
Not yet three years old, New York-based Ramp Business Corporation last month confirmed new financing of $750 million at a valuation of $8.1 billion. It announced that more than 5,000 businesses were on its platform, which “is powering over $5 billion of annualized payments volume.” It’s a tech firm that offers payments rather than a…
JPMorgan Chase agreed to acquire Frosch, a large travel agency with a mix of corporate business, independent contractors and technology, according to a Wednesday report in The Beat. Frosch officials declined to comment on the report, which cited an internal memo, but redirected an inquiry to a spokesperson for JPMorgan Chase. The official had not…
U.S. Bancorp’s acquisition of expense management software builder and travel agency TravelBank culminates a series of investments to build integrated business software and services, accelerate midmarket demand for banking and payments, and fend off financial technology firms. Banks traditionally picked up small business clients through lending and banking, but a digital revolution has changed that,…
In this guest post, Stefan Wälde of AirPlus offers a primer on Request to Pay and highlights its potential for commercial transactions. In the digital age, customers have many options for paying for their products and services. For this reason alone, it was important and right that the European Payment Services Directive (PSD2) was implemented…
With unruly passengers, fears of virus transmission and understaffed airport concessions, a quiet place to sit, work and eat can go a long way. American, Delta and United airlines within the next few months will reopen nearly all domestic airport lounges. Card companies Chase and Capital One are preparing brand new airport clubs, competing with…
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