Spendvision’s Payables Solution is a supplier-specific credit card that maintains a zero balance except when an approved transaction needs to take place. The credit cards are managed by a bank, which validates and approves the necessary funds, then pushes funds to a card so the supplier can take payment immediately.
Suppliers are able to draw funds from the card once an approved invoice has been uploaded and the funds have been made available. The card limit is then set back to zero, allowing buyers to reduce overall liability and exposure.
Since its start in 1999, Spendvision has worked in partnership with banks, financial organisations, corporates and governments. The company’s technology delivers both expense management and payables automation from a single SaaS platform. Partners include National Australia Bank and Visa, as well as direct customers like University of Sydney and Rio Tinto.
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