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Bank of America Merrill Lynch’s Travel Pro Wins Gold PYMNTS Innovator Award Global Corporate Card Provider Honoured For Virtual Payment Solution

Global Corporate Card Provider Honoured For Virtual Payment Solution 

Bank of America Merrill Lynch (BofA Merrill), a leader in card services for middle-market, large corporate and public sector clients, has received a Gold accolade for its global product BofA Merrill Travel Pro, which was acknowledged as the best virtual development at the 2016 PYMNTS Innovator Awards.

BofA Merrill was the only global bank recognised in the awards and received the highest number of votes in its category for launching BofA Merrill Travel Pro, an electronic card solution which improves the efficiency of its clients’ business travel expense processes.

Mel Gargagliano, head of Commercial Cards for Global Transaction Services (GTS), EMEA at BofA Merrill said, “We are very proud to have been acknowledged by PYMNTS.com. We continually consult with the market and invest in our corporate card product to deliver maximum value for our clients, so it is an honour to be recognised globally for BofA Merrill Travel Pro.

“Our focus is on innovation, not only to meet clients’ needs but to also predict them and ensure we are developing new capabilities that deliver tangible value.”

BofA Merrill Travel Pro is the first solution in the market that effectively addresses the existing challenges facing clients in the business travel industry, such as reconciliation issues and insufficient data. Using a unique 16-digit virtual card account number for each transaction (integrated with a travel management company), it allows companies to centralise their travel spend and capture more detailed information. This saves time and improves spending control.

Karen Webster, CEO of PYMNTS.com congratulated BofA Merrill on its award, saying, “We had a record-breaking amount of votes this year and thanks to an impressive calibre of judges, I think we were able to truly recognise the best of the best in the payments industry.”

The PYMNTS Innovator Awards honour unique initiatives that take “payments to the edge”. In addition to facing nine judges at the top of the payments industry, award candidates also received thousands of votes from their payments peers. Gold, silver and bronze awards were distributed across 16 categories including Most Innovative, Most Disruptive, and Best Technology.

BofA Merrill Travel Pro was also honoured in Treasury Management International magazine’s 2015 Technology Innovation Awards in the Best Card Solution category.