All new U.S. Bank of America Merrill Lynch corporate travel and expense cards will have chip-and-PIN technology,
the bank announced. BoA Merrill Lynch will replace existing clients' cards with chip-and-PIN cards at the time of renewal. BoA Merrill Lynch in 2012 first began issuing chip-enabled cards in the United States and since has issued more than 100,000 cards with embedded microchips, according to the company. Banks typically have issued chip-and-PIN cards in the United States only to certain senior executives within an organization. The embedded microchip carries card and user information that a user verifies with a personal identification number, making the transaction process more secure than magnetic swipe cards. The United States plans a full transition to chip-and-PIN
cards by 2015.
Databasics announced a new integration with practitioner database MedProID,
making the expense management provider compliant with the United States Physician Payments Sunshine Act. Databasics claimed the integration simplifies Sunshine Act compliance by allowing users to "quickly and easily" search in "multiple ways" an attendee's national provider identifier through Databasics and link the information to an expense, thereby fulfilling the act's reporting requirements. The Sunshine Act, which took effect this month, is designed to increase transparency of financial relationships between doctors and pharmaceutical and medical companies. SAP this month also announced an integration with MedProID
Illinois-chartered First American Bank warned customers not to use their FAB debit cards "or any other cards" in local taxis.
Taxi companies that use Taxi Affiliation Services and Dispatch Taxi to process card transactions were affected, including American United, Checker, Yellow and Blue Diamond and others, according to the bank's website. FAB in the Feb. 28 online statement said it reported the breach to MasterCard and made "repeated attempts" to deal with taxi-payment processors Bank of America and Bank of America Merchant Services to stop processing payments until the breach was resolved. However, Bank of America Merchant Services in an email to BTN
said that "at this stage in the investigation, it has not been determined that a data breach on a merchant or any of our systems has occurred." In the meantime, FAB is closing and reissuing compromised cards. FAB did not respond to a request for comment.
AirPlus International by late 2014 will offer its central bill solution on the MasterCard network.
It is "designed
for large, U.S.-based multinational enterprises" that are clients of
JPMorgan Chase Bank, according to AirPlus. First launched in March 2012
on the UATP network as part of a partnership with JPMorgan, the AirPlus Company
Account option will continue to be offered to UATP customers. The new offering
will have the same functionality as the UATP product, but "brings it to a
more widely accepted platform" which can accommodate payments to those
"low-cost carriers" that do not accept UATP, according to an AirPlus
Visa plans to integrate with SAP Financial Services Network,
enabling corporate clients to electronically automate invoice payments through SAP, the card network announced. The integration, taking effect this summer, will allow corporate clients of participating Visa commercial issuers to route payment instructions to Visa via the SAP network, according to Visa.
WSCA-NASPO and U.S. Bank extended their existing purchasing agreement for up to seven years,
the bank announced. The contract with the Western States Contracting Alliance-National Association of State Procurement Officials Cooperative Purchasing Organization was also expanded to include fleet cards, in addition to the purchasing, travel and one card products already available. The contract allows states, cities and public educational entities to issue one payment per month to cover all purchases on each card type. Travel and procurement managers also can monitor transactions online "almost immediately," while suppliers receive "immediate payment," according to U.S. Bank. WSCA-NASPO holds the first-ever negotiated multistate airfare program
, developed in 2013 with Southwest Airlines.
HRG's wholly owned Spendvision expense management unit announced its "first total travel and expense management product."
The integrated system provides booking capabilities for air, hotel, car rental and ground transportation reservations "without ever having to leave the Spendvision platform," according to the company. The system can be deployed as a standalone solution or "alongside existing internal systems," and can integrate "with any travel management company," which enables client users to deploy it "without having to change existing travel processes." HRG in March 2012 acquired
the shares of Spendvision it did not already own and two months later laid out plans
for merging expense management technology with its core travel booking system.
Expense and invoice management firm Chrome River raised an additional $17 million in financing.
Bain Capital Ventures
lead the Series C funding round, along with existing investors Argentum and First
Analysis. According to a prepared statement from Chrome River CEO and
co-founder Alan Rich, the new round of venture capital funding will be used to
expand in domestic and international markets and add product features,
including "new mobile functionality." The funds also will allow Chrome
River to invest in "significant modules and services" to complement its
accounts payable solutions. Argentum and First Analysis previously invested $3
million in the company. Chrome River in 2013 ranked 81st
on Deloitte's annual
Technology Fast 500 list after posting four-year revenue growth to 2012 of