Visa and four major UK banks have collaborated with Amazon to provide their customers with enhanced transaction data on purchases made via the new Amazon Business service.

Amazon today announced the launch of Amazon Business in the UK, a service which is designed to meet the procurement needs of businesses of all sizes. It was initially rolled out in the US in 2015, serving more than 400,000 businesses and generating more than $1 billion in sales in its first year.

Amazon Business customers can take advantage of a range of tailored features such as free one-day delivery on orders over £30, VAT-exclusive pricing, VAT invoicing and Amazon Business Analytics to gain visibility into how their business is spending.

Visa, in collaboration with Amazon, has become the first card network to provide its UK commercial account holders with a comprehensive view of their Amazon Business purchases.

The new enhanced transaction data, available to Barclaycard, Citi, HSBC, and Lloyds Bank commercial account holders, provides line-item details on all purchases for Amazon Business customers.

Bill Burkland, head of Amazon Business UK, said: “Whether you are a sole trader, a buyer in a mid-size company or a chief procurement officer in a large multi-national organisation, Amazon Business has the products and capabilities to serve your needs. Amazon Business combines more than one hundred million business products with a new set of unique business features – from reporting and analytics to spending limits and purchasing workflow approvals.”

Kevin Jenkins, regional managing director, UK and Ireland at Visa, added: “For most businesses, back-office activities such as corporate account reconciliation can be a tedious chore that eats into valuable productivity. So we’re delighted to be partnering with Amazon Business and four of the UK’s leading financial institutions to streamline this process.

“By bringing together data from Amazon Business purchases and Visa’s processing in collaboration with our bank partners, we will ultimately help our UK commercial account holders spend less time reconciling their purchases, giving them more time to spend on their businesses.”

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