How To Spend

Revolut rolls out expense management product

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Revolut is entering the bustling spend management arena with a new in-app product that enables businesses to issue company cards in a tap and set up time and category-based spend limits.After the launch of Payroll for UK customers this February, Spend Management is the second bold category entry this year for Revolut Business.

The product is being rolled out immediately to the super app’s 500,000 business customers in the UK, US and EEA.

Using the app, customers will be able to issue an unlimited number of physical and virtual debit cards free of charge, and control which account each card draws from, in 28+ currencies across 100+ countries. Businesses can monitor all spend in real-time through a central dashboard.

James Gibson, head of product at Revolut Business, comments: “Businesses are cautious about giving their staff cards because it’s considered risky or a poor way to control funds. But having few cards shared by the team can increase fraud risk and slow down operations. This was the premise we used to design a new feature giving companies real control of their funds and preventing overspending”.

Source:finextra.com

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