Are company credit cards a thing of the past?

May 15, 2018

It's a burning question that we ask a lot at Pecan HQ. As a growing FinTech we know just how fast products need to change in order to keep up. And how hard traditional solutions have to work to stay on top of their game. 

Call them what you like, company credit cards, corporate cards and business credit cards haven’t had a lot of challengers in their market. With a monopoly on business spending cards that give access to cash-as-credit, the appeal is simple: separation of business and personal spending.

However, for lots of companies, the way they think about expenses is changing.

While traditional business credit cards offer the separation of business and personal spending as well as ease of use they also mean slower visibility of transactions, lack of control on spending and sometimes cash-flow problems and the company grows.

Our CEO Nikki Evans explains more:

“The key element that every company credit card offers is the separation of business and personal expenses. But there’s no reason to use credit to do that. That got us thinking: if you could used a pre-paid company card you could easily track all spending, control budgets better and give employees the power to get things done without loads of red tape, or waiting for reimbursements. This is what Pecan is all about and why we are starting a revolution in the business credit card market. We think there is room for an alternative to company credit cards. Especially for small businesses, start-ups, and larger enterprises who want to enforce their expense policies, while empowering employees. That’s just one of our major benefits anyway!”

"Pecan isn’t here to replace all business credit cards. What we do is give companies a fresh outlook on their expenses by offering them something different, something integrated and something that makes their working lives a lot easier.

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