Mastercard and SAP Concur team up for expense and invoice management for businesses in the Asia Pacific
For some time, payments companies have been partnering with expense management platforms, but now with the explosion of virtual cards and digital wallets, card giants are getting directly involved too.
In a move that sidesteps its traditional commercial card issuer base, card network giant Mastercard has teamed up with SAP Concur to launch an expense and invoice management process for banks, businesses and government agencies in the Asia Pacific region for transactions with corporate cards.
In the press release, Mastercard mentions that using commercial cards with SAP Concur solutions for “corporate travel booking, expense management and invoice processing will help to speed up reconciliation and payments while strengthening cost controls and improving compliance”.
“In today’s competitive environment and rapidly evolving digital economy, Mastercard’s integration with SAP Concur solutions will deliver the tools and insights that businesses and governments need to control costs and manage expenses tightly, transparently and efficiently”, said Mostafa Sabet, Vice President, Product Management, Asia Pacific, Mastercard.
The press release also highlighted that as more and more businesses and governments are seeking visibility across payments, and to optimize credit and leverage data to make strong supplier relationships, the partnership would provide “closer alignment between commercial card providers and their clients”.