National City Corporation Introduces Purchasing Card for Business
National City Corporation, a $33 billion diversified financial services company, has launched a new service for business customers: the National City Purchasing Card for Business. The card aims to streamline the purchasing process for corporate customers, reducing time and effort in procurement. The company has partnered with ProCard, Inc., a technology leader in the procurement card market, to design and develop the card.
Key Takeaways:
- National City's Purchasing Card for Business is designed to reduce paper-driven transactions, time delays on delivery, and allow businesses to track and monitor purchases.
- The card offers various services, including low-dollar or infrequent purchases, cost reduction, access to leading-edge technology, and complete reporting according to company specifications.
- The partnership with ProCard, Inc. will provide a total package of payment solutions, including procurement, EDI, accounts payable, and payments.
- National City has committed to assisting merchants in establishing a system to accept the purchasing card, adding value to customer service and enhancing the business relationship.
- The industry estimates that the procurement card industry is a $400 billion market in the United States and a $1.2 trillion market worldwide.
Statistics:
- The procurement card industry is a $1.2 trillion market worldwide.
- National City Corporation is a $33 billion diversified financial services company.
- The company operates banks and other financial service subsidiaries principally in Ohio, Kentucky, and Indiana.
- The partner, ProCard, Inc., has over 350 users of the ProCard System in the U.S. with transaction activity on three continents.
Sources:
- National City Corporation, PRNewswire, "National City Corporation Introduces Purchasing Card for Business", May 15, 1995.
- ProCard, Inc. (no date available in the original text)
- Industry estimates (no specific source available in the original text);