SAP Concur, the world’s leading brand for travel brand for integrated travel, expense, and invoice management solutions; HDFC Bank, India’s largest private sector bank; and Mastercard, the world’s leading payment technology company announce a strategic partnership that will empower Indian corporates of all sizes to reconsider the way they pay for, reconcile and manage company spending. To make this actually happen, HDFC Bank will be providing a corporate credit card for business travellers, providing a one-stop solution for payment and expense management during business trips. Enhancing employee experience, increasing visibility, saving money, and improving corporate efficiency, the Mastercard powered corporate credit card will enable seamless integration of all business-related spend into SAP Concur offerings.

As per a recent SAP Concur survey conducted amongst 500 Indian business travellers, about thirty-one percent were stressed about filing expense reports after a business trip in the middle of a busy workday. Owing to the existing gap in business travel expense management solutions, the survey also disclosed that 32 percent of employees lost over Rs. 7000 of their personal money on a travel related business expense that wasn’t reimbursed.

HDFC Bank and SAP Concur solutions Corporate program powered by Mastercard offers best in class reward points, complimentary travel insurance coverage, complimentary lounge access, globalWi-Fi access and Corporate Liability Waiver Insurance (CLWI). Along with these unparalleled benefits, the solution facilitates cashless payments, offering an enhanced employee experience. With the introduction of this new HDFC Bank and SAP Concur card, powered by Mastercard, corporates will be able save up to 10 percent due to increased efficiencies and strategic insights. Expenses

can be tracked through electronic card feeds, eliminating errors and increasing visibility at all times.

Parag Rao, Country Head, Payments Business and Marketing, HDFC Bank says, “As India’s largest credit card issuer, it is our endeavour to have a card specifically designed for every Indian. Today, we are delighted to partner with SAP Concur solutions to introduce a compelling proposition for corporates and business travellers. With this card, corporates will be able to offer the best business traveller experience through cashless payments that integrate with management solutions for Concur Expense. Corporates can gain greater insights and control, while ensuring regulatory and tax compliance through this solution. Together with SAP Concur solutions, we aim to reinvent the way Indian corporates experience business travel”.

With the introduction of this new HDFC Bank and SAP Concur card, powered by Mastercard, corporates will be able save up to 10 percent due to increased efficiencies and strategic insights

“Success in business today means finding ways to be more productive while reducing costs. However, as spending gets easier, driving control and improving employee experience gets more complicated. By automating and integrating travel, expense, and invoice management, we are helping our customers build an intelligent spend management platform. This enables them to uncover valuable spend data, simplify processes, and make smart decisions. Using our joint solution, organisations can make strategic decisions based on insights unique to their business and gain a consolidated view of their budget, drive control on how employees spend money, automate payments to speed up processing, and ensure compliance and data accuracy”, says Mankiran Chowhan, Managing Director, Indian subcontinent, SAP Concur.

Porush Singh, Division President, South Asia Mastercard says, “The new corporate card solutions allow access to enhanced features for traveller convenience and increased protection against fraud including inbuilt proprietary tools that will help to capture and consolidate accurate financial reporting to enable deep analysis for greater cost savings”.