Expensify has signed a referral agreement allowing Visa to refer eligible clients and corporate card programmes to its expense management platform.
The agreement gives Visa clients, including financial institutions and corporate card programmes, another option for business customers that need expense management alongside their existing corporate cards. Referred clients deal directly with Expensify for access to its platform, onboarding resources, and support. Nasdaq-listed Expensify, which offers expense, corporate card, and travel management tools, has 15 million members worldwide.
Expense tools for existing Visa cards
Businesses that link an eligible Visa card to Expensify can use automatic transaction sync, AI-powered expense coding, automatic receipt matching, expense policy enforcement, customisable spend limits, and automatic reconciliation, as well as integrations with accounting and ERP systems. The aim is to simplify receipt capture, the management of expense policies, and the reconciliation of corporate card activity for companies already using Visa cards.
Nick Tooker, Head of Partnerships at Expensify, stated that corporate cardholders should not have to give up the points, perks, and banking relationships they have built in order to get modern spend controls. According to Tooker, businesses can link their Visa card to Expensify and gain expense management without changing how they pay, allowing card issuers to keep the card relationship while their clients add expense tools.
Card programmes and spend management
Edward Galvin, VP of North America Visa Commercial Solutions, stated that businesses are looking for simpler ways to manage expenses while continuing to use the card programmes they already rely on. According to Galvin, the agreement offers financial institutions and corporate card programmes another way to help clients simplify expense management and gain greater visibility into business spending.
Banks are increasingly combining spend management tools with commercial cards. Capra Bank, for example, has expanded its partnership with Zact to launch SpendLink, which brings commercial cards, expense management, payables, and travel together under the bank’s own brand. Expensify’s agreement takes a referral approach instead, connecting existing Visa cards to a separate expense management platform.
