Barclaycard Global Commercial Payments has said that newly issued UK Barclaycard corporate cards will be enabled to make contactless transactions. This will give businesses of all sizes greater control to track smaller transactions which are currently made using cash.
Contactless technology allows cardholders to pay for goods of £15 or under by simply holding a contactless-enabled card over a reader. There is no need to enter a PIN or sign for the payment and all transactions will appear on the corporate card statement.
Dennis Bauer, managing director of Barclaycard Global Commercial Payments, said: “As the first corporate card issuer to offer contactless, this is another major step toward Barclaycard becoming the UK’s leading business payments provider. We want to give commercial cardholders the best payments experience possible and will continue to invest in cutting-edge technology to make businesses more efficient and commercial payments easier. Contactless will enable businesses to track smaller transactions which are currently often made with cash. This gives businesses greater control over expenses as well as providing corporate customers an efficient and secure payment experience at the point of purchase.”
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.