Secure logistics and security provider Brink’s is going after small and midsize
enterprises with a combined Travel + Expense MasterCard debit card and expense solution. Brink’s is white-labeling the card and expense solution from
;nancial solutions startup Bento for Business.
The solution consists of both plastic cards for purchases and a platform,
available on desktop and on Android and iOS mobile devices. It allows administrators to set spending limits for travelers by day, week or month; to disable
cards; and to block merchants where the cards can’t be used and times and days
when they can’t be used. Administrators also can ;lter the dashboard to see
spend by employee, card number, spend category, time frame or expense tags. If
a traveler tries to make a purchase outside the allowed parameters, the system
will decline it and the travel manager will receive an alert.
Meanwhile, when travelers make a purchase, the app prompts them to photograph the receipt. Travelers then pair the receipt to a transaction and make a note
as needed. Travelers can request additional funds through the app, and administrators can approve such requests through the app, as well, said Brink’s North
America general manager for payments Miguel Zepeda. In the future, receipts
and charges will pair automatically, according to Bento CEO Farhan Ahmad.
Client companies must open an account with Brink’s issuing bank partner
Bancorp Bank and transfer in money to fund the debit cards, they explained.
In February 2015, Bento raised $2.5 million in seed ;nancing from investors
led by Anthemis Group. Other investors were Blumberg Capital, LionBird and
Pivot Investment Partners.
U.S. business travelers soon will be able to use their fitness smartwatches
not only to track their steps as they race to their gates but also to pay for
the coffee that fuels their sprints. American Express, MasterCard and Visa
have enabled corporate card use for the Fitbit Ionic smartwatch, coming in
October, and MasterCard and Visa also integrated with Garmin’s Vivoactive
If the bank that issues a corporate card enables it on these devices and
the corporate travel program OKs it, travelers then can connect their corporate cards through the Fitbit and Garmin apps. As for mobile wallets and other
smartwatches, the user taps or waves the watch at a near-field communication-enabled terminal to pay.
Card networks began enabling mobile wallet use for corporate cards in
2015, but corporates have been slow to allow their travelers to use them. The
low number of participating merchants and card issuers has shown low motivation, and safety concerns worry the corporates. Mobile wallet providers and
card networks, however, claim the payment method is safer because it uses
tokenization, which replaces a cardholders’ account number with a token account number, and because it can be paired with biometric authentication,
such as fingerprint readers.
Considering Fitbit already partners with corporate clients—Barclays, BP,
Bank of America, IBM, Kimberly-Clark, Target and Time Warner, according to
Fast Company—to develop internal wellness programs and offer discounts
for the device, uptake for fitness smartwatches could be faster.
Brink’s White-Label Pay-
ment & Expense Solution
NEW REVENUE STREAMS
COMPETITIVE MARKET INTELLIGENCE
CONNECT TO ALTERNATIVE FORMS OF PAYMENT THROUGH UATP
ELIMINATE CREDIT CARD FEES