With the introduction of Spendesk Financial Services, the company now gets end-to-end control of its payment services. Credit: D Shevon/ Shutterstock.

Spendesk, a spend management platform for mid-sized businesses, has launched its payments institution, Spendesk Financial Services. 

This new institution, regulated by the ACPR (Autorité de contrôle prudentiel et de résolution), in collaboration with Visa, allows Spendesk to offer secure payment solutions to its clients within France and across the European Union. 

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With the introduction of Spendesk Financial Services, the company now gets end-to-end control of its payment services. 

By centralising operational processes, it offers account management, provision of various payment methods such as physical and virtual business cards, and transfers, all integrated within spend management solution. 

The platform serves 5,000 client businesses and over 200,000 users throughout Europe.  

The fully integrated spend management solution encompasses from procurement and spend management to payment execution, facilitating the development of new services and payment features, including the recent Spendesk Procurement. 

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The institution aims to prevent external fraud on payment methods through industry best practices and real-time transaction monitoring. 

To establish its payment institution, Spendesk has partnered with industry players and has become a principal member of the VISA network for card issuing. 

Spendesk CEO Axel Demazy said: “The autonomy enabled by Spendesk Financial Services allows us to continue innovating while providing clients with enhanced security and simplified management.  

“Our goal is to become the standard for payment at work in Europe and this launch is a crucial step forward. Spendesk Financial Services, in strategic collaboration with VISA, enables us to control the entire payment chain and unlock new innovation.” 

Visa France MD Romain Boisson stated: “This collaboration aligns with our commitment to strengthening our presence in the B2B market, particularly with French small and medium-sized enterprises.” 

Spendesk Financial Services president Stéphane Dehaies said: “We now have complete control over our technological infrastructure, allowing us to innovate faster and respond more effectively to the needs of European SMEs and mid-market companies.”