New commercial credit card
Huntington Bank is to start streamlining invoice and expense payment workflow processes with the new Huntington commercial credit card (view press release). The card combines online card and data management tools and provides a monthly rebate payment.
“Huntington’s new commercial card will help enable businesses to improve working capital, streamline corporate invoicing and mitigate financial risk,” said Michael Anderson, director of Huntington’s treasury management group. “We believe that our business customers will also find that the commercial card makes it easier for them to manage their finances since they will be able to do their banking with one, local financial institution, where they know their bankers.”
The MasterCard-branded card hopes to help businesses: improve working capital by paying suppliers but deferring cash outflow without a financial charge; receive rebate payments up to 13 months sooner than by typical card issuers; decrease costs and reduce risk by moving manual payments processing to an efficient card-based workflow; reduce overall financial payments risk by leveraging spending controls through MasterCard InControl/PurchaseControl to limit what employees can purchase; understand their corporate spending with the MasterCard smartdata.gen2 solution.
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