Mercury Spend is introducing a new approach to spend management for modern and scaling businesses. Mercury, the technology company providing radically different banking, announced the expanded solution on August 11.
The company launched Mercury Spend to help businesses manage employee and AI agent spending. The solution combines intelligent budgets, spending controls, policy enforcement, and financial visibility.
Meanwhile, businesses continue to build companies with smaller and more efficient teams. However, many traditional finance tools have not evolved at the same pace. Mercury Spend brings spending controls directly into the Mercury banking dashboard.
As a result, businesses can manage budgets, cards, policies, and financial data from one location. The platform also introduces a new class of cards designed specifically for AI agents.
“Companies can be smaller and faster than they were two years ago, and they’re a mix of people and agents doing real work,” said Immad Akhund, CEO and co-founder of Mercury. “Founders need a scalable and programmatic way to manage spending, understand where money is going, and automate the busywork of receipts and accounting. With Mercury Spend, founders can give their teams and agents a real spending infrastructure, not just a card.”
The new offering focuses on making financial operations easier for scaling companies. Furthermore, Mercury Spend allows founders to establish spending rules without requiring constant finance team involvement.
Budgets and AI Agent Cards Add Spending Controls
- Mercury Spend provides a centralized budget and policy system for growing teams.
- Founders can create budgets for specific business purposes within minutes.
- These budgets can cover areas such as travel, software, and procurement.
- Teams can then issue employee cards with spending limits that enforce automatically.
- Transactions that exceed assigned budgets can be declined at the point of sale.
Businesses can also restrict transactions using merchant names or merchant category codes. In addition, Mercury is introducing AI Agent Cards for businesses using artificial intelligence.
Companies can issue these cards to AI agents that complete purchases within human-defined policies. However, only a human can create an agent card.
The cards remain trackable, auditable, and cancellable throughout their use. AI agents can complete transactions within defined limits. They cannot bypass, modify, or expand those spending restrictions. This structure gives companies greater control as they delegate more operational work to AI systems.
At the same time, Mercury Spend supports automated accounting workflows. Transactions can move automatically to the appropriate budget. Administrators can also configure rules that determine how spending enters accounting systems.
Mercury uses a Gmail integration to collect receipts from connected inboxes. The system then matches receipts with the relevant transactions. Employees can also submit receipts through text messaging. They can reply with a receipt photo to complete the process.
Policy Enforcement and Financial Visibility
Mercury Spend also introduces automated policy enforcement for business expenses. Cards can automatically freeze when employees fail to provide required receipts. The same process applies when a required memo or category remains incomplete. Cards stay frozen until employees complete the outstanding requirements.
Therefore, businesses can enforce expense policies without relying entirely on manual follow-up. The solution also connects spending information with a company’s existing cash position and runway. This approach gives businesses a broader view of financial activity. Team spending appears alongside the company’s overall financial position.
Consequently, businesses do not need another platform to configure or connect their spending data. Mercury is also connecting Mercury Spend with its AI layer, Command. Every Mercury Spend function can be accessed through Command using natural language. Customers can tell Mercury what action they want to complete.
The system performs the requested work after receiving customer approval. Users can manage spending, review cash positions, and create automated rules. They can also send invoices and complete other financial tasks through a single conversation. This reduces the need to navigate multiple menus or switch between financial tools.
Mercury Introduces Limited-Edition IO Card
Alongside the Mercury Spend launch, Mercury is releasing a limited-edition IO card.The company designed the card with sculptor, ceramicist, and designer Simone Bodmer-Turner. The design comes from an original sculpture Bodmer-Turner created specifically for Mercury.
Mercury used premium layered printing to reproduce the sculpture’s tactile and dimensional qualities. The limited-edition card adds a design-focused element to the company’s latest product launch. Mercury Spend is now available to Mercury business banking customers. The launch positions the solution around spending control, financial automation, and AI-enabled business operations.
It also reflects the changing structure of modern companies. As businesses combine human employees with AI agents, spending infrastructure must support both.
Mercury Spend brings these capabilities together within the company’s existing banking environment.
Explore Finance Tech News for the latest innovations in financial technologies and expert insights shaping the future of digital finance!
News Source: Businesswire.com
