TravelBank and U.S. Bank team up for the virtual card and expense management solution
With pandemic hitting the travel industry the hardest, travel management platforms trying to bounce back with the help of new partnerships. This week, California based expense management and business travel platform, TravelBank – which despite its name is not actually a bank – has teamed up with banking giant U.S. Bankcorp to integrate its travel and expanse management platform.
The partnership will allow program administrators to issue U.S. Bank Instant Cards directly from their expense management platform and also let them instantly put the virtual card into the mobile wallet with a pre-approved budget and set expense limits.
“Funds are available immediately, the card can be used for contactless payment, and there is full integration with TravelBank’s innovative travel and expense reporting platform,” said Tory Passons, Vice President, Commercial Card at U.S. Bank.
Under this new platform, companies would have access to real-time reporting, expense capture, policy management and approvals, reimbursements, general ledger sync, and analytics.
“The mainstream adoption of mobile wallets is going to be key to bringing back businesses across the country,” said Duke Chung, co-founder and CEO of TravelBank, according to the release. “In a post-pandemic world, companies need to prepare to provide a contactless commerce experience where employees can seamlessly and efficiently make business purchases.”
Over the past couple of months, companies have launched a number of B2B platform and virtual cards for the travel industry. Last month, Onyx CenterSource has launched contactless virtual credit cards for its hospitality and travel clients while in June and July respectively, Amadeus has partnered with Troovo to integrate Troovo’s Robotic Process Automation (RPA) into its B2B wallet and TravelgateX and PayParc have signed an agreement to create a B2B digital wallet which will be operated via API integration.