Bank of America establishes global card network

Bank of America establishes global card network

Bank of America has entered a partnership with Visa International to provide its multinational corporate customers with a single point of contact for global credit card services.

The Global Commercial Payment Solution is facilitated by Visa International and major commercial card issuers, including Bank of America, Banco Bilbao Vizcaya Argentaria, BNP Paribas and Barclays.

Under the GCPS individual cardholders are served locally through the partnership network, but turn to their principal relationship bank as a single point of contact for coordinating billing in local currencies, global pricing, local-language customer service, local currency reporting and global consolidated spend reporting.

The programme has coverage in the United States, Canada, Mexico, Austria, France, Germany, Portugal, Spain, the United Kingdom, Argentina, Brazil, Chile, Columbia, Peru, Puerto Rico and Venezuela. By the end of 2001, Bank of America says it will expand the service to Japan, Korea, Singapore, Australia, New Zealand, Belgium, the Netherlands, Switzerland and Italy.

"Expanding services globally is a logical progression for us," says Dan Riley, executive vice president of global treasury services at Bank of America. "We listened when our customers said they wanted additional services to help manage business expenses anywhere in the world."

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