Comdata Corporation Introduces BusinessLink

Monday 15 March 2004 17:06 CET | News

Comdata Corporation has launched BusinessLink, a suite of payment services that drives cost out of business processes through increased operational efficiencies in key areas, including fleet management, purchasing, T&E, payroll distribution and authenticated identification.

Comdatas end-to-end payment platform enables real-time processing-a distinct advantage for customers who require enhanced security and control. The cornerstone of the new BusinessLink product is its ability to allow a company to establish purchasing authorizations and controls at the individual cardholder level, and the flexibility to change them in real-time via the Web if, and as, needed. Comdatas BusinessLink offering is also the first to offer both credit and debit functionality on one payment card, as well as the first in the transportation industry to offer virtual card capability as part of the fleet solution. The virtual card service is designed as a secure, fast method for making unscheduled, emergency and Internet purchases. BusinessLink achieves operational cost efficiencies for companies through its suite of service offerings, which can be used in any combination: -- Controlled Spending - BusinessLink Controlled Spending can be a set up to efficiently handle traditional purchasing, fleet, and T&E transactions, and allows transactions to be assigned to a companys specific general ledger codes at the point of purchase. BusinessLink cardholders receive real-time transaction authorization based on company-established rules and policies. Companies using BusinessLink can select merchant categories, purchase limits, permitted time parameters and more, and these rules can vary from cardholder to cardholder. The authorized purchase information is captured and recorded to the companys appropriate general ledger code while the transaction data is made available on Comdatas secure customer Internet portal, This feature can save up to 25 percent of the cost of purchasing over traditional purchase-order-driven processes. -- Integrated Debit and Credit Functionality - In addition to corporate credit card functionality, the BusinessLink card offers PIN-based debit capabilities, providing, for the first time, a business-to-business payment system that also allows employers to distribute company-provided personal funds to employees for access at ATMs and via purchases at point-of-sale debit terminals. All on one card. -- Employee Payroll and Expense Reimbursement - A valuable benefit to employees with and without bank accounts, BusinessLink enables companies to distribute payroll or expense reimbursements on the card, resulting in 20 percent savings or more over paper-based payroll distribution. With PIN-secured debit functionality, employees can access funds at the ATM, through debit point-of-sale purchases at any Maestro(R) debit-accepting location, or have all or part of their funds directly deposited into their bank accounts. -- Authenticated Identification -The BusinessLink card can provide the added functionality of serving as a facilities access card, with several levels of authentication built in to circumvent I.D. card tampering or theft. Employees benefit from the enhanced security and convenience of reducing the number of cards carried. -- Virtual Card - Through BusinessLink, unique, single-use MasterCard numbers can be issued to the subscribing company, allowing for emergency or unscheduled purchases, all fully integrated into the master BusinessLink account. Virtual card numbers are particularly useful for commercial fleet customers whose drivers must often pay for a break-down or maintenance/repair while on the road. An emergency purchase amount can be authorized once, or numerous times within a specified time period, without an actual card and without the liability of an open card for unauthorized purchases. Settlement of these unplanned purchases is easy, quick and follows the same company process as any other transaction.

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Categories: Payments & Commerce | Payments General
Countries: World
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