Payhawk combines company cards and expenses into one integrated experience and has now launched a US credit card. Payhawk originally has a presence in the UK and Europe and has recently announced the expansion of its spend management solutions for the US market.
Payhawk US Credit Card Launch
With the US credit card launch, Payhawk seeks to support various companies across the UK, Europe, and the US. The Payhawk US credit card launch is accompanied by the opening of a New York office location. The company’s record year of growth by 524% and a growing number of employees (250% more) are all of what led to the US credit card as part of its expansion strategy.
In addition to the US credit card expansion, the Payhawk spend management solution offers a mix of credit cards and debit cards for corporations to help manage company finances. The transatlantic expansion also places Payhawk in a position to serve businesses with overlapping operations spread throughout the two continents – Europe and North America. Currently, Payhawk serves 2.6 Million firms with over 100 employees.
Payhawk currently strongly focuses on enterprises and already serves scaleups and enterprises in 32 countries. Their products include business credit cards in various forms, such as virtual cards, physical cards, and team cards. The card features a variety of management tools to set budgets, spending rules, real-time receipts, and more, all easily controlled by finance teams through the Payhawk platform.
Payhawk Credit Card Features
As part of their services, the credit cards come with invoice management which digitizes bookkeeping and eliminates the manual work by automatically extracting data through Ai. Payhawk products also feature integration that easily syncs expenses with ERP systems and accounting software of the customers’ choice.
The Payhawk US credit card launch perfectly aligns with the regional corporate purchasing habits as part of its strategy. The US Visa credit card is accepted globally with credit limits of up to $250,000. To enroll, US customers must join a waiting list for cards with up to 1.5% cash back on card payments. The first US customers are set to go live in October of 2022.
Hristo Borisov, co-founder, and CEO, of Payhawk, said, “Our goal is to focus on providing the best solution on the market for global scaleups and enterprises. Naturally, these businesses have an international presence, and we want to cater for that. Today, more than 10% of our customer base is already on a waiting list for our US credit card.”
Payhawk is a spend management solution for scaleup businesses and is headquartered in London. The company uses technology to provide an all-in-one service for businesses to manage their finances with a more automated approach. Payhawk creates tools for finance teams to easily take control of company finances through company cards and more.
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