British Airways and MasterCard Launch Bankcard Corporate Card With Reward Program.LOS ANGELES--(BUSINESS WIRE)--Aug. 26, 1997-- Issued by First USA Paymentech, Co-Branded Card Offers Greater Acceptance and Increased Information Management British Airways British Airways in full British Airways PLC International passenger airline based in London. In 1936 British Airways Ltd. was founded through the merger of three smaller airlines. and MasterCard International announced a comprehensive bankcard bank·card n. A card issued by a bank authorizing the holder to receive bank services and often functioning as a debit card. corporate card that combines an airline mileage rewards program for the business traveler with acceptance at more than 14 million merchant locations. In addition, it offers flexible reporting capabilities for company travel management. Individual cardholders can earn mileage redeemable on British Airways or one of its airline partners: American Airlines American Airlines Major U.S. airline. American was created through a merger of several smaller U.S. airlines and incorporated in 1934. It continued to buy the routes of other airlines, becoming an international carrier in the 1970s; its routes include South America, the , Alaska Airlines Alaska Airlines, (NYSE: ALK) is an airline based in Seattle, Washington, United States. It operates hubs at Seattle-Tacoma International Airport, Ted Stevens Anchorage International Airport, Los Angeles International Airport, and Portland International Airport. , America West, Canadian Airlines Canadian Airlines International Ltd. was, from 1987 until 2001, Canada's second largest airline after Air Canada, carrying more than 11.9 million passengers to over 160 destinations in 17 countries on five continents at its height in 1996. , Qantas, and various European carriers. First USA Paymentech will issue the card and provide an array of information management options for companies that utilize the British Airways MasterCard Corporate Card to streamline their payment process. As the card program administrator, Paymentech will offer companies flexible data delivery and solutions instead of only one proprietary package. ``This new MasterCard co-branded corporate card can be used for just about any purchase an employee would need to make because of its broad global acceptance at more than 14 million merchant locations,'' said Steve Abrams, senior vice president, U.S. Corporate Products, MasterCard International. ``As a result, more corporate payment information is available from one source. Also, increased acceptance means greater convenience and less worry about having to issue cash or a personal check.'' ``Up until now, business has generally had two corporate card options: one with limited acceptance and reporting flexibility and a proprietary reward program, or widely accepted corporate bankcard products with no rewards,'' said Dale Moss, executive vice president, Sales and Marketing USA, British Airways. ``Now, a company can have both individual rewards and corporate accountability.'' The British Airways MasterCard Corporate Card benefits a company's bottom line in many ways. Because employees can use the card at more places, such as parking garages, taxi companies or quick copy shops, more purchases can be moved onto the company card, thereby reducing the need for cash advances. This in turn delivers more comprehensive spending data for the company to track and analyze, and allows streamlined T&E reimbursement Reimbursement Payment made to someone for out-of-pocket expenses has incurred. . Paymentech offers various options for data management, including automated travel expense reimbursement and desktop reporting packages that can be integrated with a company's accounting systems. ``All of the choices in software deliver the ability to conduct an in-depth analysis of spending trends (which can be useful for negotiating volume discounts with vendors), track employee compliance and map information into a company's accounts payable or general ledger General Ledger A company's accounting records. This formal ledger contains all the financial accounts and statements of a business. Notes: The ledger uses two columns: one records debits, the other has offsetting credits. systems,'' said James W. Baumgartner, president of Paymentech's commercial card subsidiary. ``Our program consultants work with our customers to determine which technology solution best accomplishes our objectives -- improving our customers' bottom line.'' ``A company also can use the British Airways MasterCard Corporate Card to benefit its traveling employees,'' said Moss. ``Because of the widespread acceptance of MasterCard, employees can use this card for just about all of their business travel expenses. This translates to greater convenience and more mileage earning opportunities for the employee.'' By enrolling in British Airways' Executive Club, individual cardholders can gain additional privileges and earn miles toward free travel. ``In addition to earning miles on every purchase with the corporate card, Executive Club members may earn miles when they fly on British Airways or any of its partner airlines, or with automobile rentals, overnight stays at hotels, and more,'' said Moss. British Airways flies to Britain from 21 gateway cities The Gateway Cities of Southern California are those located in southeastern Los Angeles County. There is some cross-over between these cities and those composing South Los Angeles, East Los Angeles, the South Bay, and the San Gabriel Valley. in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Based in London, it is the world's largest carrier of international passengers and flies to 165 destinations in 82 countries. British Airways can be reached through its World Wide Web site at http://www.british-airways.com . MasterCard International, a payments company with one of the world's most recognized brands, is dedicated to helping more than 23,000 financial institutions around the world offer consumers a variety of payment options. MasterCard remains focused on helping shape the future of money by expanding acceptance of its global brands (MasterCard(R), Maestro(R), Mondex(TM), and Cirrus(R), the world's largest ATM network) and maintaining reliable, secure networks facilitating global value exchange. MasterCard has nearly 400 million credit and debit cards debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. that are accepted at more than 14 million merchant, cash and ATM locations worldwide. In 1996, gross dollar volume generated exceeded $550 billion. MasterCard can be reached through its World Wide Web site at http://www.mastercard.com . First USA Paymentech Inc. (NYSE NYSE See: New York Stock Exchange :PTI PTI - Portable Tool Interface ) provides full-service electronic payment solutions. Paymentech is a leading transaction processor, is the third-largest processor of bankcard transactions in the United States, issues commercial card products to businesses and other entities, and provides commercial card payment and information processing information processing: see data processing. information processing Acquisition, recording, organization, retrieval, display, and dissemination of information. Today the term usually refers to computer-based operations. . Paymentech can be reached through its World Wide Web site at http://www.paymentech.com . CONTACT: Fraser/Young, Inc. Agnes Huff huff - To compress data using a Huffman code. Various programs that use such methods have been called "HUFF" or some variant thereof. Opposite: puff. Compare crunch, compress. , Ph.D., 310/451-0300, ext. 373 |
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