Expandis a virtual card and spend management platform HSBC, a global banking and financial services organization. HSBC provides extended solutions to US commercial card clients, giving businesses the flexibility and control of virtual cards to manage their spending.
Mutual customers can use HSBC business cards to simplify critical processes such as month-end bookkeeping and make instant business payments to anyone, anywhere. Extend’s digital solution will be available for HSBC US commercial card clients with additional features in early 2023.
Thousands of businesses use Extend to easily create, send and manage virtual cards and ultimately control spending across their organization. Admins can use Extend’s mobile or his web app to set limits and rules for one-time, multiple-use, or recurring cards. You can also set budgets and allow leaders to create virtual cards for specific employees and expenses. And finally, automate the reconciliation of accrued payments.
From pre-booking trips for events to billing expenses for legal clients, small businesses trust Extend to function as their bank business card.
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Faisal JaffriAmericas, Head of Commercial Cards at HSBC, said:
“Virtual card capabilities represent a world of opportunity for our commercial card clients. We are excited to bring these capabilities to our customers.”
The number of virtual card transactions is expected to grow by over 300% over the next five years. The United States represents the largest market for business virtual card transactions, according to. Recent Analyst Predictions.Extend enables banking partners to meet this demand and offer their clients the flexibility, visibility and security of a virtual card. Businesses can self-onboard in minutes with no technical integration or additional contracts or applications required.
Andrew JamisonCEO and co-founder of Extend said:
“HSBC promises its commercial card customers banking solutions that meet their business needs. Its team is committed to delivering on that promise. Celebrate the opportunity you need to experience spending management in a way: activated from the very card you already have, focused on saving time, better understanding your business, and managing your working capital. I have.”