Co. Increasing Card Options

Paymentech is expanding its corporate card services through three new initiatives, including linking with banks in Canada.

Paymentech is expanding its corporate card services through three new initiatives: linking with banks in Canada so corporate customers can offer the same card programs across North America, launching a new purchasing card product aimed at mid-market companies, and rolling out enhanced reporting tools designed to give travel managers deeper visibility into spending patterns.

The moves reflect growing demand from corporate travel buyers for more integrated payment solutions that can span multiple markets and expense categories. As companies increasingly manage travel and entertainment spending through centralized programs, card providers are racing to offer the technology and geographic coverage that large buyers require.

Paymentech executives said the Canadian banking partnerships were particularly significant, as many U.S.-headquartered companies have struggled to extend their domestic card programs to their Canadian operations without taking on a separate local provider.