BAML’s recent Press Release on the expansion of their payment card based services show that there is a long term future of payment card and the associated services. The enhancements they have introduced over the last year included:

• expanded the country footprint: global reach of card programs was extended to Guatemala and Turkey.
• enhanced delivery capabilities: now provide real-time account management and integrated global data consolidation in Hong Kong and India.
• investments in servicing: for clients’ corporate travelers - enhanced functionality allows users to access data and live support via their preferred channel anywhere around the globe, 24x7. 
• B2B card solutions: expanded B2B payment solution utilizing virtual card accounts cards into the Asia Pacific region. Service now covers 27 countries across Asia Pacific, EMEA, Latin America and North America.
• chip and PIN: In April, the company announced the expansion of chip and PIN technology to all Purchasing and Travel credit card products available to clients in the United States
• mobile solutions: launched a mobile application of Global Reporting and Account Management, the expense reporting solution for card programs. Executives who are on the go can now leverage the tool’s capabilities to help control spending, optimize profits and facilitate compliance with their own travel policies.

BAML concluded that, “Improved transparency and tighter control over expenses continue to be hot topics for organizations of all sizes in every region around the world,” said Percy Batliwalla, head of Sales for GTS. “As card programs grow in efficacy and sophistication, they are becoming an increasingly powerful tool for treasury departments – providing them the granular information they need to better manage and forecast their finances.”