J.P. Morgan Enhances Commercial Card Product

J.P. Morgan Chase (New York) has expanded its commercial card offering in Europe, the Middle East and Africa. The bank said the new services will provide its clients with greater flexibility and visibility on spending and expenses.

New products and service enhancements introduced this year include:

• The launch of the Executive Card, for the frequent corporate traveler who requires premium benefits and services including superior VIP airport lounge access, VIP Luggage Delivery, concierge services, travel accident and lost luggage insurance coverage, and emergency medical and dental coverage.
• The launch of J.P. Morgan's Prepaid Cash Card in British Pounds and Euro.
• Robust information and management reporting in over 15 languages.
• Local language enhancements in Europe including statements, applications, and telephony. New languages added include French, German, Italian and Spanish.
• Increased card program coverage, which grew more than two-fold and is now available in 95 countries and 28 currencies.

New product developments in the region to be delivered by early 2010 include:

• Self-issuance capabilities in Switzerland (Swiss Franc). J.P. Morgan already offers self-issuance capabilities in British Pounds, Canadian Dollars, Euro and U.S. Dollars.
• The launch of J.P. Morgan's International Dollar Card (USD), a cross-border dollar solution with chip and PIN security, and the ability to support clients' needs in the Middle East, Africa, and Central and Eastern Europe, including Russia.
• Single-Use Accounts, an electronic payables tool that provides customers with the flexibility, float and rebate of a purchasing card along with security, antifraud and reconciliation features.
• Carbon Emissions Reduction Fund gives all the benefits of a corporate card program with the value-added option of offsetting carbon emissions associated with employee travel.

J.P. Morgan's corporate card programs are supported by an online platform that provides. Card administrators can order new cards, modify spending limits, instantly adjust cardholder profiles and monitor corporate compliance. Users also have access to more than 70 standard reports that provide the transaction detail needed, including vendor analysis, unusual activity analysis, hotel spending, car rental spending, and delinquency reports.