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Extend augments business spending control through virtual credit cards

Thursday 6 January 2022 12:09 CET | News

US-based digital credit card platform Extend has announced it allows companies to issue virtual credit cards (VCCs) to their vendors and merchants without adopting any new products or change banks.

Extend company officials found that VCCs were not reaching their full potential because they weren’t available to small businesses that could benefit from them just as their larger corporate clients did. They also stated that physical cards couldn’t keep up with subscription spending, and that other limitations created a problem for consumers and smaller companies.

The team created a platform where users could extend the capabilities of the company credit cards they already had. That means they don’t have to join a new bank, a neobank such as Brex, Ramp, or Marqeta, or sign up for a new card to access VCC benefits. Customers can start using Extend and issue VCCs within five minutes of signup.


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Keywords: product launch, virtual card, credit card, spend management, fintech
Categories: Payments & Commerce
Companies:
Countries: World
This article is part of category

Payments & Commerce