Collaboration is the name of the game in this week's Commercial Card Innovation roundup as industry players enhance their existing solutions with integrated card capabilities. Plus, new card-based products step into the scene targeting payroll, business travel spend and more.
Airbase Loops Its Corporate Cards Into QuickBooks Desktop
Airbase has announced an integration with QuickBooks Desktop that will streamline the connectivity between its spend management and card-based payments technology and QuickBooks' general ledger solutions. Included in the collaboration is the ability for business end-users to generate cash back from virtual cards within accounts payable, and to manage employee spend on cards. In a statement, Airbase Founder and CEO Thejo Kote said, “Developing deep and fully automated integrations with accounting and workplace software is one of the many things that differentiates Airbase from its competitors. QuickBooks Desktop is one more example of our commitment to creating an excellent user experience for all small to mid-market companies."
See also: Airbase Debuts Standalone Bill Payments Offering For SMB AP
Corserv, Boost Collaborate On Business Card Acceptance
Corserv has announced a new collaboration with Boost Payment Solutions to connect financial institutions to technology that can optimize commercial card workflows for their own business clients. Targeting mid-sized banks and credit unions, Corserv is enabling these financial institutions to launch their own branded virtual commercial card solutions. Partnering with Boost means the offering will enhance its functionality by enabling suppliers to seamlessly accept virtual card payments. "Virtual cards are growing in importance as more businesses move from the labor-intensive check payment and ACH processes to making and accepting electronic payments via Straight Through Processing (STP),” said Carl Mazzola, chief strategy officer for Boost.
See also: Commercial Cards Fuel The Next Wave Of Bank-FinTech Competition
WEX Debuts Payroll Card Product
WEX is introducing a new corporate card product designed to facilitate real-time funds transfers for payroll. Dubbed the WEX Pay Card, the solution allows employers to move funds to the card to pay employees, while those employees can transfer those funds to their own bank accounts via WEX's mobile app PayControl. Cardholders can also view their account balance, issue checks, prepare transfers and more. For employers, the card eliminates the need to issue paper checks and can streamline payroll workflows, the company said.
Read more: WEX Intros Pay Card For Quick Biz Funds
Automated Business Designs Invests In Payroll Cards
Also investing in payroll card technology is Automated Business Designs, which recently announced a partnership with Brink's Money Paycard. The tie-up allows ABD, which offers staffing and recruiting software, to integrate Brink's payroll card technology for its corporate clients that need a card-based method of paying their talent. By embedding the payroll card solution within its staffing software, ABD said it can streamline back-end workflows for hiring clients.
Read more: In A Tight Jobs Market, Employers Reconsider The Payroll Card
Bank Of America Creates New Business Travel Card
Bank of America is bracing for the return of business travel — and of businesses' need to manage travel spend - with the launch of a new commercial card. The solution is paired with a cardholder app as well as tailored benefits and rewards. Dubbed Executive Explorer, the card is available for business clients of the bank across North America, Europe and Asia.
