Hristo Borisov, CEO and co-founder of Payhawk, emphasizes the importance of this partnership: “Payhawk’s product collaboration with Marqeta makes it easier for companies to implement sophisticated card issuance controls for debit and credit cards issued in 32 countries.
“We are committed to continually developing new technologies that offer extensive customization options without compromising on usability. Our state-of-the-art Advanced Card Controls make it easier than ever for finance teams to ensure all card issuance is compliant.”
Benefits of enhanced card controls
Advanced card controls allow businesses to set specific restrictions on interaction with suppliers, merchant categories, transaction times and geographic locations. Businesses can regulate spending limits, ATM withdrawals, online payments and payment requests, reducing the risk of fraudulent activity.
Marqeta’s expertise in creating bespoke card products with dynamic spend controls plays a critical role in this initiative, as Marcin Glogowski, SVP, Managing Director Europe and UK CEO at Marqeta, notes: “Accurately tracking and managing employee spend is a critical part of any business, but it also represents a potential weak point.
“At Marqeta, by using open APIs, we create customized card products on demand with dynamic spend controls that fund spend in real time to minimize fraud and manage employee purchasing power.”
