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Controller Empowers Companies to Regain Control of Travel Spending
Helps Match and Reconcile 100% of Central Travel Expenses
N.Y. – October 21, 2013- MasterCard (NYSE:MA) today announced MasterCard Travel Controller™, a new solution for the corporate travel industry. From airline
tickets to rental cars, hotel rooms and more, MasterCard Travel Controller
offers travel management companies and their corporate clients the
ability to reconcile expenses more quickly and securely, which helps control
spending, reduce operational costs and ensure compliance with corporate travel
of every size risk tremendous annual budget losses through unmanaged
These companies look for ways to prevent ‘leakage’ and opportunities for cost
savings. Controlling spend to achieve contracted terms and policy compliance is
fundamental to effective travel management.
travel and entertainment (T&E) is the second largest controllable expense
after salaries and benefits, and yet companies worldwide are overwhelmed with
huge amounts of travel spend data requiring expense reconciliation," said
Richard Crum, Group Head for Travel & Entertainment, Global Commercial
Products & Solutions, MasterCard. "With minimal upfront investment and
systems integration, Travel Controller gives companies the opportunity to
remedy this pain point."
Controller provides an integrated solution for issuers, Travel Management
Companies (TMCs) and their corporate clients. It is unique in its
functionality to match and reconcile 100% of central travel expenses to booking
data. The solution also provides companies with the data needed to
allocate charges to the appropriate cost centers and allows companies to expand
their control over travel spend by setting custom virtual accounts for each
- Travel Controller product
features and benefits include: Using unique virtual account numbers for
each transaction guarantees 100% match of travel booking data to the card
- The detail and company-specific
data necessary to manage travel expenses is captured when travel is booked, and
linked to the unique virtual account number.
- The travel expense reconciliation is simplified by ensuring that companies get the specific data they need to integrate automatically into the expense management and ERP systems.
- Because the booking data is
linked to a unique card number, Travel Controller can ensure that the detailed
information is available on both the original transaction as well as on credit
and on refunds – something very difficult to manage on a typical "lodged" card.
- A Travel Controller transaction
seamlessly integrates into a company’s expense management system to ensure
managers have visibility over the total cost of a business trip.
Controller is currently being piloted with select banks, TMCs and end corporate
customers, and will be commercially available in early 2014.
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments
industry. We operate the world’s fastest payments processing network,
connecting consumers, financial institutions, merchants, governments and
businesses in more than 210 countries and territories. MasterCard’s products
and solutions make everyday commerce activities – such as shopping, traveling,
running a business and managing finances – easier, more secure and more
efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.
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