Emburse , a player in travel and expense (T&E) management, has announced Mastercard as the new payments network for Emburse Cards. This partnership aims to assist modern finance teams in adapting to the digital economy, ensuring secure, straightforward, intelligent, and accessible purchase transactions while automating traditionally manual reconciliation processes.

With Emburse Cards, finance professionals can issue and manage virtual and physical corporate cards from one centralized platform, complete with pre-approvals for employee budgets and automated reconciliation. The solution provides management teams with a comprehensive view of their team's spending, reducing the time employees wait for expenses to be approved and reimbursed. The Mastercard network enhances security and coverage for both physical and virtual cards in the Emburse ecosystem.

Customers will also benefit from MasterCoverage and Mastercard ID Theft Protection for added protection against fraud and identity theft, providing peace of mind for business leaders and traveling employees. Additionally, cardholders gain access to Mastercard's HealthLock benefit, an analytics-driven platform safeguarding cardholders' medical identities and data. Emburse about the Mastercard collaboration Eric Friedrichsen, the CEO of Emburse, discusses the challenges faced by finance leaders in the context of the digital economy.

He points out three key challenges: the growing number of transactions, the presence of dispersed teams (referring to teams working remotely or in different locations), and an increased risk of online fraud. Friedrichsen goes on to explain that the introduction of Emburse Cards aims to address these challenges. The primary objectives are to enhance security measures, make the process more efficient, and reduce the time it takes for expenses to be recorded, reconciled, and reimbursed.

The CEO emphasizes that the collaboration with Mastercard, known for its advanced global payment technology and strong security features, positions them as an ideal network partner to achieve these goals and provide the best possible solution to their customers. The integration of Emburse and Mastercard technologies allows for more extensive use of data and insights, automating the entry and interpretation of crucial information for finance departments. By automatically populating transaction details into expense reports via Emburse's suite of expense management products, finance and procurement teams gain immediate and detailed analyses of travel expenditures.

These insights can be used to negotiate better rates with vendors and pinpoint opportunities to enhance policy compliance. Mastercard’s view In the evolving landscape of travel and expense management, there is a growing demand for a simplified and digitized expense management process. Marie Elizabeth Aloisi, from Mastercard Healthcare Solutions, emphasizes this need.

The collaboration with Emburse aims to deliver a secure and comprehensive solution for corporate customers dealing with their Travel and Expense (T&E) expenditures. This solution encompasses various benefits, including the security, flexibility, and control offered by virtual cards, as well as the ease and familiarity associated with physical cards. The joint effort ensures corporate clients have flexibility in payment options while maintaining a secure and end-to-end approach to managing their T&E expenses.

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