Debit card users are increasing from year to year, because the benefits felt by the community for using debit Cards are so diverse.
In addition to providing efficiency in making shopping transactions without the need to carry cash, the usefulness of debit cards is also in the form of ease and speed of transactions via ATMs for cash withdrawals and transfers between interbank accounts.
Debit cards are offered by Banks as well as Fintech companies (Financial Technology). Fintech is a technology-based non-bank financial institution. One of them is Spenmo.
Spenmo is an expense management platform that combines features of Corporate Cards, automatic bill payment, employee claim payment, and payroll payment all in one neat interface.
In this article, we will provide you with the details of the corporate card feature offered by Spenmo.
Spenmo claims that with its virtual card, you don't need to set up petty cash, put more effort into reviewing employee claims, and make expenses that don't comply with company policies.
The Spenmo card operates like debit cards, where companies can transfer an amount of money to be used for company needs, then allocate it to teams and employees.
The Spenmo virtual card makes it easy to carry out full supervision and control through budget planning, by ensuring employees only use the budget according to what has been set by the company.
Spenmo provides facilities to make your business payments easier, where conversion or transaction fees in foreign currencies are only worth 2.75% without any other additional costs.
By using the Spenmo card for business expenses, you can easily track company expenses, streamline reimbursement and manual debt reconciliation process, and also get in the habit of minimizing the use of paper receipts for different expense categories.
Spenmo's real-time analytics can give you an overview of your company's spending habits while identifying areas where your company spends the most.
The Spenmo card can be used in any country that accepts MasterCard Worldwide payments, which operates the world's fastest payment network, and is capable of processing transactions using more than 150 currencies.
To apply for a Spenmo Corporate Card you need to fill the below information on their website.
Once company details are submitted, a Spenmo sales representative will contact you to provide a custom demo of the platform before getting started.
Spenmo corporate cards are virtual or cardless in form, amid other conventional corporate card offerings, Spenmo offers virtual cards that can be accessed through its applications and software.
You do not need to bother to come to the branch office in order to apply for a corporate card, to get a spenmo corporate card, you just need to register online and upload some required files as requirements.
Spenmo offers a 2.75% foreign currency transaction fee, with no additional fees.
With this feature, you can trace the transactions made by the company's virtual card. Each payment trail will be recorded in detail and can be accessed through the company's Spenmo account.
The track record of purchases stored in the company's account can be forwarded without having to print out first, thus the series of reimbursement processes can be trimmed so that it is more efficient.
Through the Spenmo corporate card, the finance team will sort out the budgeted budget to then proceed to the process of applying for approval from the boss. With this system, budget allocation can run efficiently and quickly.
Aspire issues corporate cards that are accepted by merchants around the world for business, shopping, travel, and more. This application is easy and free of charge, where you only need to register online, and in a matter of minutes you can access the company's Aspire Corporate Card.
The Aspire Corporate Card comes with no monthly card fees and also offers unlimited cashback. Especially for corporate purposes, Aspire provides up to 1% cash back on business spending for its users.
The form of the card is physical and virtual, so you can open the application and use the company card for various business interests easily.
Both Aspire and Spenmo have virtual card types. Both enable you to transfer a certain amount of money you want to use for company purposes, then allocate it to your team and employees.
Both offer visibility and control over the company's financial management so that you, as the person in charge of the company, do not lose control from the budget creation process to budget approval.
Both are connected to the MasterCard network, access to which is widely accepted by more than 48 million merchants worldwide.
By registering yourself and your company online in just a few minutes, you can immediately enjoy various facilities and services from Aspire.
With Aspire, you can also earn unlimited cash back on your business and travel payments and you do nto need to pay any monthly fees.