DETROIT - NBD Bancorp has introduced a MasterCard purchasing card for corporate customers, providing a less expensive and more efficient way to authorize, track, pay, and reconcile small-dollar purchases made by their employees. NBD's corporate cash management department offered the card to customers in June after a successful pilot in March.
The NBD Purchasing Card helps businesses cut costs by reducing or eliminating paperwork. It also allows them to maintain purchasing control by pre-selecting authorized users, customizing limits on the dollar amount and number of transactions for each cardholder, and capturing valuable point-of-sale information.
Control features include daily and monthly dollar spending limits, daily and monthly transaction limits and merchant category restrictions.
Further, an NBD Purchasing Card can provide additional data captured at the point of sale, including sales tax, customer code, merchant federal tax identification, postal code and state, and merchant type. NBD is the first bank to be certified by MasterCard to capture and process this enhanced level of data.
The bank's in-house merchant services department will set up new and existing merchants with the capability to accept the purchasing card and capture the incremental data needed for reporting. This gives NBD the ability to assist a corporation in establishing a purchasing card program and, at the same time, service the needs of the corporation's current suppliers.