Treasury Management Internation Logo

BofA Merrill Announces Enhancements to Global Card Capabilities for Companies and Public Sector Clients


NEW YORK – Bank of America Merrill Lynch, a leader in card services for middle-market, large corporate and public sector clients, today announced that it has enhanced its global card capabilities with new products, services and geographies. The expanded capabilities are the latest developments of a multi-year investment strategy, and reflect the continuing importance of card products to creating optimal working capital solutions for corporations and public entities.

“Everything we’ve done over the last year to enhance our global card programs has been in direct response to client demand,” said Kevin Phalen, head of Global Card and Comprehensive Payables in Global Transaction Services (GTS). “The feedback we receive from clients at our proprietary conferences and day-to-day interactions is critical to designing our investment plans and determining how and where to expand our geographic footprint. We look forward to growing our business with new and existing clients in 2015 and beyond.”

Some of the significant enhancements introduced over the last year include:

  • Expanded the country footprint: The global reach of our card programs was extended to Guatemala and Turkey.
  • Enhanced delivery capabilities: We now provide real-time account management and integrated global data consolidation in Hong Kong and India.
  • Investments in servicing: For our clients’ corporate travelers, we continue to invest in our phone and mobile based solution set. The enhanced functionality allows users to access data and live support via their preferred channel anywhere around the globe, 24×7.
  • B2B card solutions: We expanded our B2B payment solution utilizing virtual card accounts cards into the Asia Pacific region. Today, clients can enjoy the working capital benefits of the solution in 27 countries across Asia Pacific, EMEA, Latin America and North America.
  • Chip and PIN: In April, the company announced the expansion of chip and PIN technology to all Purchasing and Travel credit card products available to clients in the United States. The bank has been a leader in chip and PIN technology, having been the first issuer to offer the enhanced security to U.S. travelers, enabling them to make successful transactions at overseas merchants and un-manned terminals.
  • Mobile solutions: We launched a mobile application of Global Reporting and Account Management, the expense reporting solution for card programs. Executives who are on the go can now leverage the tool’s capabilities to help control spending, optimize profits and facilitate compliance with their own travel policies.

“Improved transparency and tighter control over expenses continue to be hot topics for organizations of all sizes in every region around the world,” said Percy Batliwalla, head of Sales for GTS. “As card programs grow in efficacy and sophistication, they are becoming an increasingly powerful tool for treasury departments – providing them the granular information they need to better manage and forecast their finances.”

Visit the Bank of America Merrill Lynch website for further information about the bank’s Card and Comprehensive Payables Solutions.

Most recent episodes

HSBC’s Sibos Spotlight: Investing in the Future – from Diversity to Green Deposits

In the final instalment of HSBC’s Sibos Spotlight, Eleanor Hill (TMI) invites Nadine Lagarmitte and Suraj Kalati (HSBC) to consider how corporates’ attitudes to...


HSBC’s Sibos Spotlight: The ESG Landscape – what every treasurer needs to know

In the third edition of HSBC’s Sibos Spotlight Podcast series, TMI’s Eleanor Hill invites Farnam Bidgoli (HSBC) to provide an in-depth overview of the current ESG...


The Path to Transformational Global Cash Visibility

Davina Bradley (CEVA Logistics) and Conor Deegan (CashAnalytics) join TMI’s Eleanor Hill to explore how treasurers can transform their cash visibility and forecasting within their business in a matter of weeks using a...


HSBC’s Sibos Spotlight: Embedding ESG in Trade and Supply Chains

In the second podcast from HSBC’s Sibos Spotlight series, TMI’s Eleanor Hill speaks to Surath Sengupta (HSBC) about embedding ESG into trade and supply chains....


Lost in Transaction: Overcoming Payments Pitfalls

From simple errors to duplicates, fraud and sanctions violations, there are a number of areas where payments can go wrong – especially in the real-time environment. In this podcast, TMI speaks to Andrew Ferrao...


HSBC's Sibos Spotlight: Central Bank Digital Currencies

The first edition of HSBC’s Sibos Spotlight series sees TMI’s Eleanor Hill joined by Mark Williamson and James Pomeroy (HSBC) to discuss the hot topic of Central Bank Digital Currencies (CBDCs). Our guests discuss...


Payments Vision 2025: The Inside Track

Wim Grosemans, Steven Lenaerts (BNP Paribas) and Wim Raymaekers (SWIFT) join TMI’s Eleanor Hill to outline their vision for the payments landscape in 2025. Our guests consider how recent developments such as instant...


Stepping Out from the Shadows

“Treasurers needs to step out of the shadows and into the sunshine in terms of their strategic contribution.” claims Zitah McMillan, Co-Founder and CEO, Predictive Black. In this podcast, hosted by TMI’s Eleanor Hill, our guest declares that the...


Why the ‘One Size Fits All’ Approach is Outdated - A Cash Segmentation Treasury Masterclass

With the ongoing low interest-rate environment and increasing regulatory change, it’s more important than ever for treasurers...


Instant Payments: Instant Rewards

TMI’s Eleanor Hill sits down in the virtual TreasuryCast studio with J.P. Morgan’s Global Head of Real-Time Payments, Cyrus Bhathawalla, to discuss how treasurers can capitalise on the evolving nature of real-time payments. Our guest contemplates the elements...