Bank of America Is Top U.S. Issuer of Visa® and Mastercard® Commercial Solutions
Technology and Client Advocacy at the Heart of the Bank’s Leadership
Bank of America has retained its ranking as a top issuer of Visa and Mastercard commercial credit and prepaid solutions in the U.S. The 2018 rankings were published by The Nilson Report, a financial industry publication covering card and mobile payments.
Bank of America’s commercial card programs are managed within the Global Transaction Services (GTS) business that develops solutions to address a company’s overall treasury and working capital needs.
“Our clients increasingly see the value that card solutions bring to their treasury organizations,” said Jennifer Petty, head of Global Card and Comprehensive Payables Solutions in GTS at Bank of America. “The commercial card industry is rapidly evolving, and it is important for us to help our clients grow their card programs and create efficiency by leveraging capabilities like APIs, mobile capabilities and seamless integration of virtual cards into travel and procurement processes.”
Client demand fuels our innovation and as such, Bank of America invests heavily in our card platform to increase security, expand product capabilities and extend geographic reach. Recent examples include:
- Launch of mobile wallet for commercial and prepaid cards in North America.
- Enhanced Virtual Payables and Virtual Travel solutions.
- Mobile-friendly cardholder and program administrator tools.
- Contactless cards across the globe.
“We’re passionate about being advocates for our clients and understanding their goals and challenges as we help them transform their payables from paper to electronic,” said Fernando Iraola, co-head of Global Corporates Sales GTS at Bank of America Merrill Lynch. “We appreciate the trust our clients have in us. That trust is reflected in our market leadership position, continued growth in card programs and payments, and other treasury solutions across our platform. ”The bank’s leadership in card programs is attributed to both the technology investments and its dedicated team of professionals who advise companies on the best solutions for their needs and best practices for card program implementation, adoption and administration.
For more information about Bank of America’s commercial card solutions, visit our website.
Please visit The Nilson Report for more information about the publication.
Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 66 million consumer and small business clients with approximately 4,400 retail financial centers, including approximately 1,800 lending centers, 2,200 financial centers with a Consumer Investment Financial Solutions Advisor, and 1,500 business centers; approximately 16,400 ATMs; and award-winning digital banking with more than 37 million active users, including over 27 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
Reporters May Contact:
Louise Hennessy, Bank of America Merrill Lynch, 415.913.3641