GE Capital has introduced a corporate card program denominated in euros.
The currency debuted in electronic form this month and is used in 11 European countries. GE Capital, a major corporate card issuer, said its MasterCard product would be useful for multinational clients.
GE Capital is issuing euro-denominated travel and entertainment and purchasing cards in France, Germany, the Netherlands, Italy, and Ireland. Rollouts in Spain and Belgium will take place in April, and in other European countries later.
"Multinationals will no longer have to deal with different banks in different Euroland countries," said Jeffery R. Dye, senior vice president, GE Capital Corporate Expense Management Services, a unit of GE Capital Card Services.
To support the product, GE Capital is providing monthly statements and call center service in six languages.