Emburse and Mastercard team up for expense automation for Amazon Business customers
Card giants and payments fintechs are jockeying for a slice of online shopping giant’s Amazon’s fast-growing B2B operation. Emburse, a California based accounts payable automation company partnered with Mastercard to develop an integrated solution for Mastercard corporate cardholders and Amazon Business customers.
“In the 12 months ending on May 31, 2020, American SMB sales from business customers on Amazon Business were over $7 billion”, an Amazon spokeswoman said. Amazon Business announced new features which target the needs of business and under this Mastercard corporate cardholders can have automated receipt generation and an itemisation of their expenses within their Emburse expense automation solution.
Earlier, Amazon Business customers had to upload purchase e-receipts into their expense solution and, if their employer required line-item breakdowns of purchases, manually create an expense item for each product, the press release said.
With this integration, receipts will be handled automatically and sent straight into the customer’s receipt wallet following which items can be automatically categorized based on customer purchasing history and company policies.
“Business-to-business payments are changing, to work harder and smarter, and capitalize on the accelerating shift to the digital economy. Mastercard is modernizing the business payment ecosystem to provide greater control, automation and efficiencies,” said James Anderson, Executive Vice President of Global Commercial Products, Mastercard.
Last month, Emburse launched pre-approved corporate cards under which virtual cards will be issued within the company’s Chrome River EXPENSE T&E app. The company is now a Featured Partner in the Amazon Business Partner Network.