Payhawk, the global spend management solution, has expanded its partnership with Marqeta, the global modern card issuing platform that powers some of today’s most innovative embedded financial solutions, to combat fraud and the misuse of corporate funds using Advanced Card Controls. The new feature is available in all 32 countries that Payhawk serves and where the company operates its premium Visa debit and credit cards, and is the next step towards equally secure and convenient spend management for businesses.
Companies face a difficult task when it comes to ensuring that all corporate spending is compliant. Although many finance teams have carefully crafted their spending policies, they lack the resources to effectively monitor and enforce them and are vulnerable to fraud.
Compared to traditional providers, Payhawk’s smart Visa credit and debit business cards come with built-in spend control policies and automated approval workflows. These advanced controls are designed to give finance teams control over spending without making it difficult for employees to access the funds needed to operate efficiently and grow. Powered by Marqeta, they make it much easier for companies to empower employees to spend in a way that aligns with policies and business goals. Fighting fraud, ensuring compliance and increasing operational efficiency has never been easier.
Businesses using Payhawk’s smart cards can now set additional controls, including vendor, merchant category, time and day, and country and region restrictions, as well as regulating spending caps, ATM withdrawals, online payments, and payment requirements. These innovations are enabled by Marqeta, whose expert collaboration has accelerated the push toward integrated smart card management.
“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,” says Hristo Borisov, CEO and co-founder of Payhawk. “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.”
“Accurately tracking and managing employee spending is a critical aspect of any business, but it also represents a potential vulnerability,” said Marcin Glogowski, SVP, Managing Director Europe and UK CEO at Marqeta. “At Marqeta, we use open APIs to create customized card products on demand with dynamic spend controls that fund spend in real time to minimize fraud and manage employee spending power. Our partnership with Payhawk demonstrates the future of corporate spend management built on robust fraud prevention, compliance, efficiency and seamless customization.”
To learn more about Payhawk’s card controls, click here.
