Payhawk, the global spend management solution, has expanded its partnership with Marqeta, the global modern card issuing platform powering some of today’s most innovative embedded finance solutions, to tackle fraud and the misuse of company funds using Advanced Card Controls. The new capability is available across all 32 countries served by Payhawk where it operates its premium Visa debit and credit cards. This marks the next step towards corporate expense management that is safe and convenient in equal measure.

Businesses face an uphill battle to ensure that all company spend is compliant spend. Despite having meticulously mapped out spend policies, many finance teams lack the means to monitor and enforce them effectively, and face vulnerability to fraud.

In comparison to traditional providers, Payhawk’s smart Visa credit and debit business cards come with in-built spend control policies and automated approval workflows. These advanced controls were created to give finance teams control over spending without hampering employees’ access to the funds needed for efficient operation and growth. Powered by Marqeta, they make it much easier for companies to empower employees to spend in a way that aligns with policy and corporate objectives. Combating fraud, ensuring compliance, and increasing operational efficiency has never been easier.

Now, companies using Payhawk’s smart cards can set additional controls, including restrictions on vendors, merchant categories, time and day, and country and region, as well as regulating spend caps, ATM withdrawals, online payments, and fund requests. These innovations are enabled by Marqeta, whose expert collaboration has accelerated the drive towards integrated smart card management.

“Payhawk’s product collaboration with Marqeta makes it easy for businesses to implement sophisticated card spend controls on debit and credit cards issued in 32 countries,” says Hristo Borisov, CEO and Co-Founder of Payhawk. “We are committed to continuously developing new technology providing rich customisation options without compromising on user experience. Our cutting-edge Advanced Card Controls make it easier than ever for finance teams to ensure all card spending is compliant.”

“Tracking and managing employee expenses accurately is a critical part of every business, but it’s also a potential vulnerability,” said Marcin Glogowski, SVP, Managing Director Europe and UK CEO at Marqeta. “At Marqeta, through the use of open API’s we create customised card products on demand with dynamic spend controls that fund expenses in real-time to minimise fraud and manage employee purchasing power. Our partnership with Payhawk showcases the future of corporate expense management which will be built on robust fraud prevention, compliance, efficiency, and seamless customisation.”