Expensify, Inc. (Nasdaq: EXFY), the easiest way to manage expenses, corporate cards, and travel, today announced a referral agreement with Visa. The deal gives businesses a new route to expense management. Under the agreement, Visa can refer eligible clients and corporate card programs to Expensify. As a result, companies that want a simple, connected way to manage spend gain another option.
Visa’s clients now have additional options to help their business customers meet the need for expense management tools. This means they can maintain their current card solution and provide enhanced visibility for their customers. Expensify’s expense management platform helps to do just this.
- With an eligible Visa card you can:
- Automatically sync transactions
- Intelligent coding of expenses
- Match receipts automatically
- Enforce Expense Policies
- Set custom spending limits
- Quickly reconcile automatically
Plus, these features mean that finance teams save time. Automatically syncing your card activity, intelligent coding of expenses and matching receipts means less busy work. Enforcing policies and setting custom spending limits will ensure that company spending is controlled. Plus, quickly reconciling and ERP integration means all transactions are connected to your books.
Visa also commented on the partnership. Edward Galvin, VP of NA Visa Commercial Solutions, shared the company’s view.
“Businesses are looking for simpler ways to manage expenses while continuing to use the card programs they already rely on,” said Edward Galvin, VP of NA Visa Commercial Solutions. “This referral agreement with Expensify provides another strong option to help financial institutions and corporate card programs support clients looking to simplify expense management and gain greater visibility into business spend.”
Keeping Card Perks While Adding Spend Controls
Nick Tooker, Head of Partnerships at Expensify, explained the thinking behind the deal.
“Corporate cardholders shouldn’t have to give up the points, perks, and banking relationships they’ve built just to get modern spend controls,” said Nick Tooker, Head of Partnerships at Expensify. “Our pitch is simple: Link your Visa card to Expensify and you get world-class expense management without changing anything about how you pay.”
Referred Visa clients can work directly with Expensify. They will gain access to its expense management platform, onboarding resources and support. This makes it easy for businesses to capture receipts, control expense policies and reconcile corporate card transactions.
Basically, the deal allows companies to hold onto cards they trust. At the same time, they get modern tools for tracking and controlling spend.
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News Source: Businesswire.com
