Payhawk partners with Marqeta to combat fraud

The partnership's objective and capabilities

Many businesses encounter challenges in ensuring that all company expenditures adhere to compliance standards. Even with well-documented spending policies in place, finance teams struggle to monitor and enforce these guidelines, leaving them susceptible to fraud.

That's why this advancement signifies a move towards secure and convenient corporate expense management. The latest feature is accessible in all 32 countries where Payhawk offers its premium Visa debit and credit cards.

Payhawk has built-in spend control policies and automated approval workflows, setting them apart from traditional providers. These capabilities help finance teams manage spending effectively while ensuring employees have access to necessary funds for easy operations and expansion. Leveraging Marqeta technology, these cards allow companies to encourage employees to spend in line with policies and corporate goals, simplifying fraud prevention, compliance, and operational efficiency. 

Moreover, companies using Payhawk's smart cards can establish added controls. These include restrictions on vendors, merchant categories, timing, days, countries, regions, spending limits, ATM withdrawals, online payments, and fund requests. These advancements are made possible through Marqeta's expertise, which has expedited the progress towards comprehensive smart card management.

Payhawk other partnerships

In April 2024, Payhawk announced an integration with American Express. This way, through this partnership, US Business and Corporate Card Members can generate virtual cards with embedded spending restrictions and oversee business expenses worldwide. Furthermore, users can earn rewards on qualifying American Express Cards using virtual cards for transactions. Payhawk's participation in the American Express SyncTM Commercial Partner Programme helped with this integration.

In October 2023, Payhawk teamed up with Wise Platform to provide improved global payment services to its international clientele. This partnership has led to the introducing of a new International Payments feature that incorporates Wise's extensive global payment network into the Payhawk platform. As a result, Payhawk customers can make international payments to employees and suppliers in more than 50 currencies across 160 countries.

Earlier that year, Payhawk partnered with Lune to launch Payhawk Green, assisting companies in sustainable spending decisions and managing Scope 3 emissions. The tool helped businesses comply with UK and EU regulations like SECR and CSRD.