Bank of America Merrill Lynch (BofAML), a leader in card services for middle-market, large corporate and public sector clients, has launched BofAML Travel Pro, an award-winning, market-leading business travel payment solution that enhances travel expense management.
The firm is the first commercial card issuer in EMEA to launch this product to clients. It is currently available across 27 countries in the region and is to be followed by a global rollout.
BofAML Travel Pro is designed specifically for business travel expenditure. Using a unique 16-digit virtual card account number for each transaction (integrated with a travel management company), it allows companies to centralise their travel spend and capture more detailed data. This is said to save time, improve spending control and reduce reconciliation issues.
Melissa Gargagliano, head of commercial cards for global transaction services EMEA, said, “BofAML Travel Pro extends a company’s central purchasing capability from predominantly airline tickets to rental cars, hotel rooms and rail tickets. This new functionality will provide our clients with greater control over where and how their employees travel, which, in turn, will drive cost savings and help maintain travel bookings within company policies.”