Within the market for commercial cards, JPMorgan Chase has been known more for its strength in the procurement and purchasing card segments than in the corporate travel card segment. In a move that signals its commitment to meeting all the needs of multinational clients, the bank announced today a partnership with Airplus International, the European travel manager owned by Lufthansa.
According to Reuters:
“The deal will provide the New York-based bank with access to AirPlus’ European travel payment systems and will give AirPlus entry to JPMorgan’s North American corporate customers, executives from the companies said.
The pact, announced on Thursday, includes commitments by both companies to invest in connecting their systems to make joint product offerings.”
Since the travel booking and travel payment segments are both almost entirely automated, the systems connections will be critical to achieving success in growing market share.
Click here to read more.