MUFG Union Bank Launches New Commercial Card Program for Corporate Clients
September 14 2015 - 11:00AM
Business Wire
Cards will have latest chip and PIN technology; clients may
select MUFG or Union Bank branded cards
MUFG Union Bank today announced the launch of its Commercial
Card Program designed for corporate clients’ procure-to-pay
needs.
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View the full release here:
http://www.businesswire.com/news/home/20150914005194/en/
Corporate Purchasing Card (Photo:
Business Wire)
The Commercial Card platform offers benefits that include
advanced technology, dedicated client support, security,
convenience, and improved visibility and control over the payables
process. In addition, the bank’s Commercial Cards can help clients
identify opportunities for cost savings, control expenses,
streamline reporting, and improve cash flow. The entire Commercial
Card portfolio uses chip and PIN technology, which is the latest
technology and provides the highest level of fraud protection to
clients.
The Commercial Card products include:
Purchasing Cards: Designed to help organizations manage
their business expenses while streamlining the procurement of
products and services.
Corporate Travel Cards: Developed for organizations’
challenges around managing costs and improving the visibility of
their business-related travel and entertainment expenses.
Executive Card: Designed as a travel card for senior
executives, with the added benefit of higher travel accident and
lost/damaged luggage insurance.
MultiCard: Combines all the features of a Purchasing Card
and Corporate Travel Card into a single card with optional Fleet
management capabilities.
ePayables Virtual Cards: Enables companies to generate
card transactions through a file from their ERP or Accounts Payable
system. There are two types of ePayables cards: Buyer-Initiated
Payment (BIP), which allow the buyer to deposit the card payment
directly into the suppliers’ merchant account (like an ACH
payment); and Supplier-Initiated Payment (SIP) technology, which
sends an email with a card number to the supplier, who then
processes the transaction to deposit the payment into their
merchant account.
“We are pleased to offer our new Commercial Card Program to our
corporate clients who are seeking the latest technology and
services to meet their transaction banking needs and improve
productivity,” said Managing Director Ray Fattell, Head of Product
and Innovation at MUFG. “Our team employed a buyer-initiated
payments approach in developing these products that distinguishes
us in the marketplace. We are committed to providing innovative
product solutions that enable CFOs and treasury managers to
optimize their business processes.”
The bank’s Transaction Banking Payables Product Team developed
the Commercial Card Program and is working with MasterCard® to
issue the cards. To learn more about the bank’s Commercial Card
Program click here.
About MUFG Union Bank, N.A.
MUFG Union Bank, N.A., is a full-service bank with offices
across the United States. We provide a wide spectrum of corporate,
commercial and retail banking and wealth management solutions to
meet the needs of customers. We also offer an extensive portfolio
of value-added solutions for customers, including investment
banking, personal and corporate trust, global custody, transaction
banking, capital markets, and other services. With assets of $113.5
billion, as of June 30, 2015, MUFG Union Bank has strong capital
reserves, credit ratings and capital ratios relative to peer banks.
MUFG Union Bank is a proud member of the Mitsubishi UFJ Financial
Group (NYSE: MTU), one of the world’s largest financial
organizations with total assets of approximately ¥284.9 trillion
(JPY) or $2.3 trillion (USD)¹, as of June 30, 2015. The corporate
headquarters (principal executive office) for MUFG Americas
Holdings Corporation, which is the financial holding company and
MUFG Union Bank, is in New York City. The main banking office of
MUFG Union Bank is in San Francisco, California.
1 Exchange rate of 1 USD=¥122.45 as of June 30, 2015
©2015 Mitsubishi UFJ Financial Group, Inc. All rights reserved.
The MUFG logo and name is a service mark of Mitsubishi UFJ
Financial Group, Inc., and is used by MUFG Union Bank, N.A., with
permission. Member FDIC. Equal Housing Lender.
MasterCard and the MasterCard logo are registered trademarks or
service marks of MasterCard International Incorporated.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150914005194/en/
MUFG Union Bank, N.A.Jane
Yedinak+1-415-773-2497jane.yedinak@unionbank.comorJoanne
Curran+1-213-236-5017joanne.curran@unionbank.com
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