Corporate payments provider Wex has expanded its virtual payments offering to 11 currencies for European customers,
according to the company. Issuance and settlement had been available only in euros, U.S. dollars and British pounds, but Wex added the currencies of Australia, Denmark, New Zealand, Norway, Poland, South Africa, Sweden and Switzerland. Wex Europe managing director Myles Stephenson said the ability to pay with a local currency "eliminates the risks of currency fluctuation, improves reconciliation in local currencies to ensure no variances and makes any card network charges fully transparent."
BMO Financial Group clients participating in the Diners Club International rewards program now can pool Club Reward points for company use,
senior manager of T&E corporate card products Alan Docherty told BTN
. Under the new Corporate Collect program, every U.S. dollar spent equals one point and “will roll up to the corporation to use,” instead of the individual cardholder, Docherty explained. American Express in 2013 launched a similar program specifically for small businesses; BMO's program launched in January and is used by a few small and midmarket companies but is open to clients of all sizes, he said. BMO also plans to roll out a virtual card product this spring, following a pilot program launched in July 2014, he said.
AirPlus International for 2014 reported revenue of €341 million ($358.1 million),
an 11.4 percent year-over-year increase, according to parent company Lufthansa Group’s annual report, released Thursday. With operating expenses up 3.4 percent to €302 million, AirPlus reported an operating profit of €39 million, a €25 million increase from the prior year. Full-year billing volume increased 7.2 percent from 2013 levels.
Uber for Business introduced customizable policy controls
that enable administrators to set day, time and pick-up location
parameters for "pre-approved Uber trips," according to a blog post.
For example, if a company has a policy that covers transportation home for
employees working late, administrators can "simply set the days and
time—for example Mon–Fri, 8 p.m. until 5 a.m. for rides originating from the
office." The company noted that "more controls are coming soon"
for its Uber for Business platform, which targets company accounts with
features that already included central billing options and a dashboard for
administrators. Since launching in July 2014, "thousands of companies have
joined our business platform and hundreds of thousands of business trips have
taken place around the world," Uber claimed.
Serko expects revenue for its fiscal year ending March 31 to be as much as 6 percent lower than the NZ$11 million target
forecast in a May 2014 prospectus, according to investor disclosures made Monday. The New Zealand-based corporate travel and expense system provider attributed the revenue shortfall in part to "the timing of billable software development," which will be recognized in its next fiscal year, "client-procurement delays" for its Serko Incharge expense-management solution and the "delayed launch of Serko Mobile," released this month. For the first half of its next fiscal year, ending in September, Serko revenue is forecast to be 8 percent lower than the NZ$8.3 million previously forecast, owing to currency exchange-rate fluctuations, as well as "the delayed launch of Serko Mobile."