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Industry roundup: 2 September

PNC launches business-to-consumer payment capability

PNC Treasury Management has announced it has expanded its payment offerings by adding push-to-debit card capabilities, called Direct to Debit Card. This addition to PNC's payment ecosystem provides businesses with the option to send consumers payments 24/7, 365 days a year through an eligible debit card. Visa offers the Visa Push Payment Gateway Service to enable push-to-card capabilities for non-Visa cards in the US and Canada.

Built through a collaboration between PNC and Visa, through Visa's real-time push payments platform, Visa Direct; Direct to Debit Card looks to bridge the gap in business-to-consumer payments by providing businesses with a convenient way to pay consumers without using bank account numbers or third-party payment apps. This solution routes payments to consumers using their 16-digit debit card number, which are processed in real-time. Companies can utilise Direct to Debit Card for a multitude of business needs, including traditional payroll processing, paying on demand and independent contractor payments.

PNC Treasury Management has invested in an omni-payment ecosystem to provide clients with seamless options that meet a variety of business needs. PNC was an early adopter of Real-Time Payments (RTP), Request for Payment commercialisation and blockchain technologies, and offers a suite of treasury management APIs. The bank has also has developed treasury management receivables services.

 

East & Partners releases latest Asian trade finance league tables of banks

East & Partners Asia has released its trade finance league tables for H2 2020. This league table of trade finance market share in Asia covers the relative positioning of the top 19 providers for the Top 1,000 multinational corporations (MNCs) and large domestic/ regional corporates in the region. It covers a range of solutions including documentary trade, supply chain finance, structured trade finance and e-Trade solution.

The tables are split into primary market share and primary wallet share: 

  • Primary market share: Percentage of corporates that nominate each financial institution as their primary trade financier, also known as primary relationship share.
  • Primary wallet share: Average percentage of trade finance volume that corporates allocate to their primary provider.

Top trade financiers in Asia

Source: East and Partners’ Asian Trade Finance Markets Program

East & Partners Asian Institutional Trade Finance Markets Program monitors demand for Trade Finance, Engagement, Products and Relationships, in the Top 1000 Corporates in 10 countries across Asia, covering the markets of China, Taiwan, Hong Kong, Singapore, Malaysia, Thailand, Philippines, Indonesia, India and South Korea. The top 100 revenue ranked corporates in each of the ten Asian markets were targeted for interview.

 

Emburse and Mastercard streamline Amazon Business purchase expenses

Emburse, an expense management and accounts payable automation solution provider, has announced a tool for Amazon Business customers. Through an integrated solution, Mastercard corporate cardholders can now have automated receipt generation and itemisation of their expenses of Amazon Business purchases within their Emburse expense automation solution.

Amazon Business customers previously had to upload purchase e-receipts into their expense solution and, if their employer required line-item breakdowns of purchases, manually create an expense item for each product. E-receipts then needed to be reconciled with corporate credit cards. Leveraging merchant Level 3 card transaction data eliminates the need for Amazon Business customers to manually submit their receipt to their expense management solution, following the purchase click on the Amazon Business site.

The integrated solution automatically renders e-receipts directly in the customer’s receipt wallet within the expense solution. Once in the receipt wallet, each transaction is automatically parsed into individual line items and categorised based on the customer’s purchasing history and company policies. This eliminates the need for customers to manually enter each product as a single expense, and is designed to provide greater line-item clarity for administrators to ensure spend is compliant. Emburse is now a Featured Partner in the Amazon Business Partner Network.

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