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January 21, 2015 - 05:05 PM ET

American Express in the fourth quarter of 2014 reported $594 million net income for card-billed business in its Global Commercial Services division —the unit that oversees commercial cards—up from $182 million year over year. The increase primarily was due to a pre-tax gain of $719 million from the sale of Amex's stake in Concur Technologies when SAP acquired that company. Overall, Amex's fourth-quarter net income was $1.4 billion, an 11 percent increase year over year. Fourth-quarter total revenue increased to $9.1 billion, from $8.5 billion a year ago, also primarily due to the sale of Concur shares.

January 14, 2015 - 01:05 PM ET

BMO Financial Group and Spendvision partnered to offer BMO corporate clients an expense management solution, Spendvision owner Hogg Robinson Group announced Tuesday. The new solution, BMO Spend Dynamics, will be available "across geographic borders, industry segments and a wide variety of card products" and will rollout in a "multi-phased approach" starting this spring, according to HRG.

January 14, 2015 - 12:25 PM ET

Payments firm CSI released the latest version of its virtual card solution for the Android operating system. Among the new globalVCard mobile features for purchasing card managers are the ability to block and unblock cards in real-time, restrict usage by time of day, week and merchant category, set spending thresholds to receive transaction notifications, monitor payment authorization success rates and grant users the ability to create virtual cards. These new enhancements first were rolled out only to iOS devices last year, a CSI spokesperson said. CSI last week partnered with travel management company Adelman Travel to offer virtual cards to the TMC's clients.

January 09, 2015 - 01:45 PM ET

Payments solution provider CSI now integrates with travel management company Adelman Travel to offer Adelman clients the globalVCard virtual card, CSI announced. The virtual card is available for use on "all transactions, not just lodging," according to a statement from Adelman Travel CIO Ivan Imana. With the globalVCard travel managers can issue to travelers' mobile devices one-time-use credit cards with specified amounts, merchants and expiration dates. Additionally, GlobalVCard automatically faxes to hotels the credit card authorization form at predetermined times prior to a traveler's check-in date and again upon check-in if the form is misplaced. GlobalVCard also collects all transaction data, making reconciliation and bill-back processes easier. CSI previously partnered with Adelman to provide a virtual card solution to Goodman Networks.

December 16, 2014 - 09:25 AM ET

Orbitz for Business on Tuesday announced expense integration with Concur. Bookings made via the travel agency are "directly passed" into the expense system, according to the announcement. "As a result of this integration, an expense report is automatically initiated, which helps employees cut data entry time, increase reporting accuracy and visibility, and helps control and identify fraud."

December 05, 2014 - 05:00 PM ET

SAP on Thursday completed its $8.3 billion acquisition of Concur, the companies announced. Concur will "operate as a business unit within SAP," according to Concur, and its existing management team will continue to lead the unit. SAP expects the acquisition to contribute up to €45 million in cloud subscriptions and support revenue for 2014, according to the companies.

December 05, 2014 - 09:25 AM ET

Rocketrip announced a partnership to "automatically push all relevant expense data to Concur." The Rocketrip platform enables companies to reward business travelers who book travel at prices below predetermined budgets, and earlier this year indicated work underway to integrate with expense management systems. "This integration with Concur means that all receipts will flow directly into Concur during expense submission," according to the announcement. "Rocketrip is now available in the Concur App Center, which offers streamlined integration with Concur Travel, Expense, and Invoice products."

December 02, 2014 - 01:40 PM ET

Amadeus enabled hotel payment with Conferma virtual card technology through its e-Travel Management self-booking tool, Conferma announced. Amadeus already had integrated Conferma into its hotel bill-back solutions. Now, when corporate client travelers book a hotel through e-Travel Management, Conferma automatically will fax a virtual card number to the hotel. At checkout, the hotel will charge the booking to the VCN, and the booking and payment data is reconciled, according to Conferma. 

December 01, 2014 - 10:00 AM ET

American Express Global Business Travel appointed Elyes Mrad to managing director of Europe, the Middle East and Africa. Most recently Hertz International senior vice president of sales and marketing, Mrad will be based in London and report to Amex Global Business Travel president and CEO Bill Glenn. Mrad will "oversee the hundreds of professionals who serve clients headquartered in EMEA" and "be responsible for driving a strong retention and acquisition strategy in the region," according to Amex. 

November 21, 2014 - 01:20 PM ET

Conferma's travel management clients now can create MasterCard virtual cards for supplier payments via a partnership with eNett International, the companies announced Thursday. All companies, regardless of size, can use virtual-card provider eNett to create virtual account numbers, but a Conferma spokesperson told BTN that the solution is geared toward small and midsize clients without "strong banking relationships" or bank credit lines. Conferma and MasterCard on Tuesday globally expanded their existing integration.

November 20, 2014 - 10:15 AM ET

Total revenue for Serko increased 50 percent year over year for the six months ending Sept. 30, the New Zealand-based online booking and expense software provider announced Thursday. Revenue increased to NZ$4.7 million (US$3.7 million), with revenue from travel bookings, Serko's "core revenue growth engine," up 36 percent year over year. Online transaction volume rose 32 percent. Serko's net loss widened to NZ$3.6 million (US$2.8 million) from NZ$347,000 (US$272,000) for the prior-year period, which CFO Tim Bluett attributed to "the planned investment we have made in growing our organization and operational capacity to support the pipeline of growth for the business."

November 18, 2014 - 01:30 PM ET

MasterCard and Conferma globally expanded their existing integration, Conferma announced Tuesday. The partnership, first signed in 2011 and dubbed In Control for Business Travel, previously was available only in Europe. With In Control, clients can create virtual card numbers for individual transactions and reconcile booking data. The integration gives In Control clients, including corporate clients and issuing banks, access to Conferma's network of travel management companies, global distribution systems, self-booking tools and online travel agencies to "streamline and modernize [clients'] travel payment and reconciliation processes" regardless of the booking platform used and across all payment categories, according to Conferma.