By leveraging Thredd's issuer processing technology, Paytron can now enable its customers to issue virtual cards to employees across the globe as part of its newly launched employee expense management tool. This payment card offering will enable rapid expense reimbursements via Paytron’s centralised expense management platform, further transforming the expense management process from a lengthy paper-based exercise to an entirely digital process.
Employees using the Paytron solution upload their expenses to Paytron's centralised platform prompting notification of the designated expense approver followed by payment via virtual card within 24 hours.
This process is intended to eliminate the financial inconvenience faced by employees awaiting reimbursements but also enhances the ability of SMEs to streamline expense forecasting and avoid international currency logistics and challenges.
Built on the AWS cloud, Paytron's global platform acts as a centralised hub for businesses to manage their invoice and expense workflows. This comprehensive solution covers various financial processes, including accounts payable, international transfers, and payroll.
About Thredd
Thredd is the trusted next-gen payments processing partner for innovators looking to modernise their payments offerings worldwide. The company processes billions of debit, prepaid, and credit transactions annually, serving over 100 fintechs, digital banks, and Embedded Finance providers, from consumer to corporate, across 44 countries.
Thredd’s solution accelerates the development and delivery of consumer and corporate payments components embedded within digital banks, as well as for expense management, B2B payments, crypto, lending, credit, Buy Now Pay Later, FX, remittance, and Open Banking players.
About Paytron
Paytron is a modern business account that incorporates innovative finance process automation and cross-border business payments. Sitting between the accounting system and a company’s bank account, the platform streamlines accounts payable processes and spend management for businesses, to improve efficiency, reduce costs, and alleviate frustrations during every step of the payable lifecycle. The platform offers automated data capture, pre-accounting workflows, smart approvals, and the ability to pay hundreds of global suppliers without the need to hire computer engineers or add to the finance department headcount.
