Banks Ally To Provide Multinational Payment Services

Five worldwide banks today announced an alliance they say will improve their ability to provide multinational services with their payment tools, such as local currency billing, local language customer service and local expertise for legal and regulatory factors.

In addition to increased multinational services in 25 countries for users of the banks' commercial cards, users also will be able to access Web management tools for data management and consolidation using MasterCard and Visa payment programs, according to the alliance. This data can be integrated into existing accounts or enterprise resource planning systems.

The partnering issuer banks, together called the Zenix Card Alliance, are Societe Generale, which covers France and much of Eastern Europe; Nordea, which covers Scandinavia and the Baltic countries; HDFC, which covers India; United Overseas Bank, which covers several countries in Southeast Asia; and the Royal Bank of Scotland, which covers the United States, the United Kingdom, Ireland, Germany and Austria. Those banks now will offer to corporations using their corporate and purchasing products cards for overseas operations through the Zenix Card Alliance.

Stuart Minster, head of U.S. commercial cards at RBS Card Services, said in a statement that the alliance "enables us to provide an innovative, world-class global payment solution locally. With worldwide coverage, unmatched acceptance and strong reporting tools, we combine local capabilities and local service with global reach and global reporting to create programs tailored to client needs."