DiviPay Launches Virtual Corporate Expense Card
DiviPay, an Australian fintech start-up, has launched an expense management and virtual card platform that helps SME’s control company spending and automate their team’s expense reporting. The platform is now open to registrations for early access and a number of Australian businesses are already using it to save up to 30 hours a month on expense reporting.
DiviPay enables companies to provide staff with access to company money while controlling exactly how that money can be spent. After signing up to the DiviPay platform, managers are prompted to create budgets for their team and set their desired level of control by either allocating budget members a pool of funds or requiring approval for every expense.
Each budget member is then instantly issued a unique virtual card that can be loaded directly into their mobile wallet and spent both online and in-store. Once a payment is made DiviPay automatically categorises the expense and pushes the data directly into the company’s accounting software ready for reconciliation. The company says that businesses can now register for early access.