Using the new card, which combines online card and data management tools and provides monthly rebate payment, businesses can save money each month by streamlining corporate invoice and expense payment workflow processes.
Huntington treasury management group director Michael Anderson said the commercial card will also help business customers to manage their finances since they will be able to do their banking with one, local financial institution, where they know their bankers.
The total estimated US commercial card spend on indirect and direct purchasing is estimated to reach $200bn this year.
Suited for businesses with annual accounts payable volume of $5m to $50m, the new card will help reduce overall financial payments risk by leveraging real-time spending controls through MasterCard InControl/PurchaseControl.
Additionally, businesses can help prevent risk of a lost or stolen card through virtual cards for transactions such as e-commerce, telephone, mobile telephone or mail orders, and can limit a card number to a specific supplier or invoice.
