Payhawk has expanded its partnership with Marqeta to tackle fraud and the misuse of company funds using Advanced Card Controls. The new capability is available across all 32 countries served by Payhawk where it operates its premium Visa debit and credit cards.
This marks the next step towards corporate expense management that is safe and convenient in equal measure.
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Businesses face an uphill battle to ensure that all company spend is compliant spend. Despite having mapped out spend policies, many finance teams lack the means to monitor and enforce them effectively, and face vulnerability to fraud.
Payhawk’s smart Visa credit and debit business cards come with in-built spend control policies and automated approval workflows
These advanced controls were created to give finance teams control over spending without hampering employees’ access to the funds needed for efficient operation and growth.
Hristo Borisov, CEO and Co-Founder of Payhawk, said: “Payhawk’s product collaboration with Marqeta makes it easy for businesses to implement sophisticated card spend controls on debit and credit cards issued in 32 countries. We are committed to continuously developing new technology providing rich customisation options without compromising on user experience. Our cutting-edge Advanced Card Controls make it easier than ever for finance teams to ensure all card spending is compliant.”
Marcin Glogowski, SVP, Managing Director Europe and UK CEO at Marqeta, added: “Tracking and managing employee expenses accurately is a critical part of every business, but it’s also a potential vulnerability. At Marqeta, through the use of open API’s we create customised card products on demand with dynamic spend controls that fund expenses in real-time to minimise fraud and manage employee purchasing power. Our partnership with Payhawk showcases the future of corporate expense management which will be built on robust fraud prevention, compliance, efficiency, and seamless customisation.”
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