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Article: MasterCard, Air Travel seek travelers' business. (MasterCard International, Air Travel Card)(Consumer News)
- Article from:
- American Banker
- Article date:
- October 29, 1991
- Author:
CopyrightCOPYRIGHT 1991 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MasterCard, Air Travel Seek Travelers' Business
NEW YORK -- Vying for a bigger share of the business travel market, MasterCard International will soon offer corporate credit cards in conjunction with Air Travel Card, an airline industry program that handles $5.5 billion of charges a year.
The alliance is meant to aggressively thrust members of the bank card association into the $325 billion worldwide travel and entertainment market, in which MasterCard has only a token presence.
American Express Co. dominates the corporate travel market. In the United States alone, it captures about 80% of U.S. corporate travelers' business each year, according to ...