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J.P. Morgan Chase & Co.'s J.P. Morgan treasury services unit this week announced several new international commercial card offerings, including an Executive Card with VIP-level services and a cross-border commercial card equipped with chip-and-PIN security. "We are announcing a variety of new commercial card offerings in Europe and the Middle East, and next we will do the same in Asia and Latin America," Alan Koenigsberg, head of J.P. Morgan Treasury Services' International Commercial Card and E-Invoicing, tells CardLine Global. The announcements came in conjunction with EuroFinance's International Cash and Treasury Management conference this week in Copenhagen. Koenigsberg says the EMV chip-equipped International Dollar Card will be offered first in Europe, the Middle East and Africa, but it may be expanded to other regions eventually. It is designed for "corporate customers that are heavy international travelers, who need the convenience of a single currency and the extra security of a chip-and-PIN card that is not available in the U.S.," Koenigsberg says. J.P. Morgan issues cards on the MasterCard Worldwide network outside the U.S. Koenigsberg said that next year J.P. Morgan also will begin issuing commercial cards in Switzerland for the first time. And the company will make single-use commercial card accounts available next year to customers in Europe, Middle East and Africa. "As purchasing cards and T&E cards catch on in more regional countries, we are enhancing our product offerings to provide seamless connections so that corporations can easily track their spending across multiple regions and currencies," Koenigsberg says.
