Expend integrates instant Mastercard and Visa transactions into expense management
Expend, the business expense management digital platform, have announced record take-up of their industry-first product ‘Card Connect™’. They are the first UK platform to process business expense data instantly, from Mastercard and Visa business card transaction feeds, directly into an expense capability.
Expend clients can now benefit from real-time expense settlement, streamlining financial management and improved efficiency.
Expend CEO, Johnny Vowles says: “Traditional expense management is an ‘eye roll’ moment for firms of all sizes, and their employees. Paper-based receipts, clunky claims processes, and long sign-off routines create headaches and delays for finance teams and colleagues. However, with Expend’s Card Connect, we are continuing to revolutionise the expense management market.”
He adds: “Card Connect has two important attributes. It enables companies to connect all of their business cards to our single platform, which has multi-card acceptance. This means that users can view and submit all of their expense claims in one app, whether, for example, they paid on their corporate Barclaycard or business HSBC card.
“The second is that these card payments can be viewed in the app instantly, as they happen. There is no wait time between making the payment and seeing it in the Expend app.
“All expenses paid for on different payment methods can be handled in one single platform, saving the headache of multiple logins and banking apps to collate expense data.
“Clients tell us that the choice of card is valuable. For example, some have a favoured business card on which they are accruing travel points or loyalty benefits. It also reduces friction when firms move to Expend, which is a card-agnostic platform. So, managers with a high travel and entertainment profile can continue with their existing credit facilities and can register their preferred cards seamlessly.”
He concludes: “Expend Card Connect continues our mission to improve real-time visibility and zero-touch processing of personal expenses, and answers a pressing customer need.”