JPMorgan has advanced its commercial card expansion initiative in Europe, the Middle East and Africa (EMEA) to provide corporate clients with higher degree of visibility and flexibility on spending and expenses in today’s challenging economic environment. JPMorgan has introduced several new commercial card product offerings and service enhancements in the region, while a number of new product offerings are due to launch early next year.
New products and service enhancements introduced this year include:
- The launch of the executive card, for the frequent corporate traveller 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 JPMorgan’s prepaid cash card in pounds sterling 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 programme 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).
- The launch of JPMorgan’s international US dollar card, a cross-border US dollar solution complete 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 while delivering powerful security, antifraud and reconciliation features.
- Carbon emissions reduction fund (CERF): recognising the importance of corporate and social responsibility, the CERF gives all the benefits of a corporate card programme with the value-added option of offsetting carbon emissions associated with employee travel.