HDFC Bank today launched corporate credit card powered by SAP Concur solutions and Mastercard to eliminate out-of-pocket cash expenses for employees and prevent fraudulent claims. SAP Concur, HDFC Bank, and Mastercard, the world's leading payment technology company, today announced a strategic partnership that will enable Indian corporates of all sizes to reimagine the way they pay for, reconcile and manage company spending.
HDFC Bank will now be offering a corporate credit card for business travellers, providing a one-stop solution for payment and expense management during business trips. The corporate credit card will enable seamless integration of all business-related spend into SAP Concur offerings, enhancing employee experience, increasing visibility, saving money, and improving corporate efficiency. The card is supported by Mastercard.
Challenges facing business travellers
As per a recent SAP Concur survey conducted amongst 500 Indian business travellers:
- Thirty-one percent were stressed about filing expense reports after a business trip in the middle of a busy workday.
- Owing to the existing gap in business travel expense management solutions, the survey also revealed that 32% of employees lost over Rs 7000 of their personal money on a travel related business expense that wasn't reimbursed.
The offering from HDFC Bank and SAP Concur solutions is designed with such user challenges in mind, ensuring that business travellers have a stress-free and productive trip.
The key benefits of the partnership include:
- Upfront visibility and control of spends: All business spends incurred by an employee are populated in Concur Expense to ensure faster claim submission, processing, and reimbursement in compliance with the organisation's policies.
- Cashless payment and digital claim process: Minimizes the need to carry cash and delivers efficiency and accuracy in employee reimbursements.
- Integrates partner apps: Provides the advantage of a connected ecosystem by leveraging partnerships with Uber for Business, Booking.com, Airbnb, Hilton and other partners.
- Global Wi-Fi: Complimentary Wi-Fi services across airports, flights, and restaurants that will keep travellers connected without worrying about roaming fees, unsecured connections, or configuring SIMs.
- Complimentary lounge program: Provides several complimentary lounge visits at international and domestic airports.