Mastercard upgrades transparency into Amazon Business purchases for commercial cardholders
Mastercard has announced an upgrade to the back office experience for commercial cardholders by providing enhanced data for Amazon Business transactions. With this collaboration, mid and large-size businesses now have a more intuitive and transparent way to understand and manage their expenses. A detailed understanding of each line item, such as item description, price and relevant tax information, for all Amazon Business purchases, helps businesses better track expenses, expedite financial reconciliation and streamline the filing and auditing of expense reports.
This product is currently available in Germany, the UK, and the US for Mastercard commercial cards issued by Bank of America Merrill Lynch, Barclays Bank, Citi, J.P. Morgan, Lloyds Bank, NatWest and The Royal Bank of Scotland.
Companies that enrol Mastercard commercial cards through bank partners are able to:
- View the details, quantities, unit price and tax for individual items they purchase
- See the shipping amounts associated with the financial charge
- Directly update information either in their expense management system or in the Smart Data platform
Mastercard has enhanced Smart Data, its expense reporting and analytics suite, to leverage this enriched data to provide new reports and custom reporting tools. This capability is available to enrolled commercial card programmes from participating financial institutions.