Amazon has partnered with Visa to provide enhanced transaction data on customer purchases made with Bank of America Merrill Lynch, Citi and PNC U.S.-issued Visa cards. This way, Amazon Business customers will receive additional details on their purchases—offering greater visibility and accuracy of expense recording.
The line-item details will help clients get a better idea of their organization’s spend and to streamline their reconciliation with regards to expenses. With the addition of enhanced transaction data, Amazon Business customers can receive detailed data on purchases made with their Visa card and integrate it seamlessly with popular expense reconciliation tools. Data examples include item description, quantity, invoice number, PO number, tax rate and tax amount.
“We hear from our customers, of all sizes and in all industries, that reconciliation is a top pain point for them. They have indicated a need to access detailed data about their individual Amazon Business orders, including line item detail, which provides transparency into what was purchased and is necessary for accounting entries and monthly reconciliation of a company’s credit card statement,” a spokesperson from Amazon Business told FierceRetail. “Without that level of detail, they manually collect receipts and/or invoices from their suppliers and match those to their credit card charges, resulting in a time-consuming and labor-intensive task.”
Other Amazon Business benefits include free two-day shipping on eligible items, multiuser business accounts, approval workflows, tax exemptions and dedicated customer support.
"The ability to easily view and control spend is a top priority for business customers. By working with Visa, we are now able to offer business customers the enhanced reporting they need for greater efficiency,” said Prentis Wilson, vice president of Amazon Business. "We are excited about this new level of data we are providing to users of Bank of America Merrill Lynch, Citi, and PNC Visa commercial cards."
Amazon Business is available in the U.S., U.K. and Germany. There are now more than 45,000 business sellers who have accessed the Amazon Business Seller feature set.
What’s next for Amazon Business?
“We’re listening to customers all the time and remain committed to making new features and benefits available to them which enable them to innovate within their own business environments. Investing in the development of features that matter most to business customers is a natural progression for us,” the spokesperson said.