The solution provides leaders a fuller view into their team’s spend while reducing the time employees wait for expenses to be approved and reimbursed.
Emburse partners with Mastercard for Emburse Cards. (Credit: Alina Kuptsova from Pixabay)
Emburse, a leader in travel and expense (T&E) management, today announced Mastercard as the new payments network for Emburse Cards. The partnership will help modern finance teams embrace the digital economy and make purchase transactions safe, simple, smart and accessible while automating traditionally manual reconciliation processes
With Emburse Cards, finance professionals can easily issue and manage virtual and physical corporate cards from one centralized platform, with pre-approvals for employee budgets, and automated reconciliation. The solution provides leaders a fuller view into their team’s spend while reducing the time employees wait for expenses to be approved and reimbursed.
The Mastercard network will give Emburse customers added security and reach for both physical and virtual cards. Customers will also receive MasterCoverage and Mastercard ID Theft Protection for fraud and identity protection, providing additional peace of mind to both business leaders and the employees who travel. Additionally, cardholders will have access to Mastercard’s HealthLock benefit, an end-to-end analytics-driven platform that helps protect cardholders’ medical identities and data.
“In the digital economy, finance leaders have to manage greater transaction volumes, distributed teams, and increased risk of online fraud,” said Eric Friedrichsen, CEO of Emburse. “With Emburse Cards, we aim to deliver greater security with less effort, while shortening the time between expenses being incurred, reconciled and reimbursed. Mastercard’s leading global payment technology and security makes them the perfect network partner to help us deliver the best possible solution to our customers.”
Additionally, bringing Emburse and Mastercard technology together will allow for more extensive use of data and insights, lifting the burden off finance departments to manually enter and interpret key information. By automatically populating transaction details, like hotel and airline information, into expense reports submitted via one of Emburse’s expense management products, finance and procurement teams immediately gain granular analysis of travel spend. These insights can be used to negotiate better rates with vendors and identify opportunities to increase policy compliance.
“As travel and expense management grows increasingly complex, it’s become imperative to provide a streamlined and digitized process for expense management,” said Marie Elizabeth Aloisi, US Commercial Solutions and Acceptance, Mastercard Healthcare Solutions. “From the security, flexibility and control that virtual cards provide, to the ease and familiarity of a physical card, we’re thrilled to work with Emburse to provide its corporate customers with a secure, end-to-end way to manage their T&E expenses, as well as choice in how they pay.”
Source: Company Press Release