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Brussels, Belgium, August 27, 2009 - MasterCard Europe today has announced an alliance with leading European data consolidator Dataflexnet, aimed at expanding MasterCard’s enhanced data transfer relationships with travel management companies across Europe. The aim is to increase the reach of MasterCard’s issuing partners to mid to large corporations so that they will be able to benefit from integrated transaction data to help track, reconcile and analyse travel costs by employees, an area of spend which is currently sized at more than 31 billion euros across Europe alone1.
As part of the agreement, Dataflexnet will leverage its specialist capabilities to work individually with travel services and back office systems providers to fully integrate travel invoice data with MasterCard’s global payments platform, making it easier for even more companies to benefit from state-of-the art payment and reporting tools. Dataflexnet will also perform data quality control on transaction data being exchanged between travel management companies and MasterCard in order to optimise the end-to-end travel management process.
Rene Stynen, Head of Large Market Commercial Products, MasterCard Europe, comments: “In times of increased cost pressure, companies are looking for ways to control their travel-related spend, maximizing efficiencies and reducing costs. With our suite of commercial payments products such as the lodged card solution and through our issuing partners, MasterCard is providing companies with proven ways to optimise their corporate travel programmes. This partnership with one of Europe’s leading data experts demonstrates our commitment to delivering tailor-made electronic payments solutions to companies and organizations of any size”.
Reza Satongar, CEO of Dataflexnet, adds: “Over the years it has become increasingly obvious that enhanced data will continue to play an integral part in helping companies to analyse and monitor their T & E expenditure. This is especially true in the current economic climate. Since the early 90s Dataflexnet has been helping financial institutions to manage data from travel management companies and to present the enhanced data to corporate and credit card companies alike. Dataflexnet has two decades worth of experience in the travel technology market and we are delighted that through our alliance we are now able to support MasterCard’s ambition to expand their lodged account foot-print across Europe.”
MasterCard lodged cards are being offered by a number of financial institutions across Europe. Rather than being cards in the traditional sense of plastic debit or credit cards, an account number is created and managed centrally for controlled use across multiple employees in the user’s business. With the increasing focus on centralising the travel management function, lodged accounts have proven to be an ideal management tool to support this.
Rene Stynen concludes: “Besides time and cost savings, MasterCard’s commercial payments solutions provide corporations with enhanced information for their negotiations with airlines, hotels and other travel service providers. And with automated T&E expense reconciliation and reporting, companies can increase the adherence to travel policies while reducing the administrative burden on their employees.”
About MasterCard Europe and MasterCard Worldwide
MasterCard Europe is the entity responsible for managing MasterCard Worldwide’s business in Europe - for Europe. With headquarters in Waterloo, Belgium, MasterCard Europe works with 51 European countries stretching as far afield as the eastern border of Russia. Through its network of local offices, MasterCard Europe can understand and meet the diverse needs of customers in the very different types of markets throughout Europe, enabling people to do business in their own way in their own language.
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 21 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.
Dataflexnet is one of the UK's leading suppliers of travel technology and one of Europe’s leading Data Consolidators for the business travel agent. Established in 1996, we have made it our business to grow yours by creating labour saving and time-saving solutions to benefit your operation. Streamline your processes, reduce your costs. Whether traveller, travel management company, travel manager or financial department, SAP’s integrated solution will optimise your travel management processes and streamline your workflow. SAP® Travel Management and Dataflexnet Galileo Gateway provide the ultimate integrated solution to allow your employees to manage travel more effectively so you can really get a handle on one of your organisation’s largest expenses.