Magazine article American Banker

NationsBank Unveils a Visa Multipurpose Business Card

Magazine article American Banker

NationsBank Unveils a Visa Multipurpose Business Card

Article excerpt

NationsBank Corp. has introduced a Visa purchasing card that can also handle travel and entertainment expenses.

The combined card, which was rolled out last month, was developed for customers wanting one card for all business-related costs, NationsBank said.

Companies receive a single bill from NationsBank that includes all card expenses incurred by their employees.

William Glascock, senior vice president for NationsBank Card Services, called the card a "reengineering of the way companies traditionally use their purchasing and corporate cards.

"We believe this program will revolutionize the way many companies handle their expenses," said Mr. Glascock.

Industry observers reacted favorably to the concept. "What's different about this is NationsBank is combining two products into one, while not sacrificing any of the management-reporting function," said David Robertson, president of The Nilson Report, an Oxnard, Calif.-based industry newsletter.

James Accomando, president of Accomando Consulting Inc. in Fairfield, Conn., noted that "the whole point is not to increase the number of plastics in your wallet, but to increase your utility." He criticized the "segmentation and isolation" in the corporate card arena.

"NationsBank is combining the features of a procurement card with travel and entertainment, and that's the way payment systems need to go,"said Mr. Accomando.

Philip A. Skarston, vice president of marketing and development for Procard Inc. …

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