MasterCard Europe and MobileXpense have announced today that they will extend their cooperation to deliver enhanced expense management solutions for businesses.
Under this agreement, card issuers and their commercial customers will be able to integrate their MasterCard corporate card programmes directly with MobileXpense's web-based travel and expense management platform. Companies will benefit from a seamless workflow, whereby MasterCard spend data is automatically sent to MobileXpense's online tool, reducing time and cost spent on consolidating the T&E payment process - from booking trips to reimbursing expenses. Having passed a number of due diligence requirements related to the storing and handling of expense information, MobileXpense has recently received MasterCard certification.
Rene Stynen, Head of Large Market Commercial Products, MasterCard Europe, comments: "Today's announcement underlines our commitment at MasterCard to make the end-to-end payments process as smooth and as efficient as possible for businesses of any size. The alliance with MobileXpense is a perfect fit for our strategy of providing powerful, yet customizable integration solutions, offering both robustness and flexibility. In times of significant demands on cost and compliance, automated consolidation and reporting tools have proven to deliver real bottom-line savings and better control for companies' travel management activities. Offering this additional service will allow corporate issuers to provide enhanced value to their customers while differentiating themselves in a competitive marketplace."
According to the results of the 2008 MasterCard Worldwide T&E Expense Management Best Practices Study, data integration can help to drive card utilization at organizations up to 94%, significantly improving T&E tracking and expense reporting efficiency.
Patrick Billiet, Managing Partner at MobileXpense, concludes: "We are delighted to be a 'Certified MasterCard Partner'. Whereas previously we have needed to interface with each individual MasterCard issuer, the new joint interface we have built enables us to integrate all MasterCard corporate, purchasing and lodged card transactions within our system - directly from the MasterCard SmartData global repository. What that means for our customers is tremendous savings in time, cost and complexity on all international implementations. Successfully passing MasterCard's extensive security tests and becoming a Certified Partner bears great testimony to the high quality of our 'Software as a Service' (SaaS) approach".