The FINANCIAL — With the payment requirements of multinational corporations becoming increasingly complex, a global network of leading commercial card providers has joined forces to launch Zenix Card Alliance.
"The partner Banks, which include RBS, Société Générale, Nordea, HDFC and United Overseas Bank, can now offer payment solutions for employees of multinationals in 25 countries worldwide." UBS reports.
Corporations currently being offered commercial card solutions domestically by one of the Alliance Banks will now be offered Corporate and Purchasing card solutions for their overseas operations through Zenix Card Alliance.
This enables companies to take advantage of local currency billing and settlement to save costs, local language customer service, utilise local expertise in business practices and the local legal/regulatory environment.
These card programmes will be much more convenient for client employees when travelling and working abroad. They will also provide a global overview of a company’s expenditure to aid further cost savings with their suppliers such as airlines and hotels, a key requirement of large corporations.
Multinational organisations will have access to secure web management tools using MasterCard and Visa payment schemes. This will allow organisation, consolidation and management of financial data from company cardholders wherever they are located and will be capable of being integrated into existing accounts or ERP systems.
Business Travel Managers and Financial Controllers can therefore utilise the global data to propel efficiency and further cost savings in liaison with a host of suppliers and service providers.
Raghav Prasad, Head of Commercial Cards at RBS commented, "We are delighted to be launching Zenix Card Alliance with our Partner Banks. With worldwide coverage, unmatched acceptance and strong reporting tools, we combine local capabilities with global reach to create programmes tailored to our clients` needs.
"Not only will this aid an employee working in an international environment but also provide invaluable data analysis and control which will enable Financial Directors to go out into the marketplace and source more cost effective and efficient solutions for their business.
"Our partners in this alliance are some of the biggest, most respected names in the banking world, with an unmatched reputation for quality products and service in our markets. We will deliver world class products and service that will meet and exceed our customers` expectations."
Zenix Card Alliance has very wide coverage that includes the US, UK, France, Germany, Austria, Czech Republic, Denmark, Estonia, Finland, Greece, Hong Kong, India, Indonesia, Ireland, Latvia, Lithuania, Malaysia, Poland, Norway, Romania, Russia, Singapore, Slovakia, Sweden, and Thailand. Additional coverage will be arranged on client demand.
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