Pleo upgrades from prepaid cards to credit cards

Source: Pleo

Pleo is evolving – and perhaps the most important change is our new cards.

We’ve always offered a tool that made it easy for people to buy what they need to do their jobs better.

But in order to offer a market-leading product, we pushed ourselves to go beyond that and to reimagine our card.

So we made a couple of changes - some big, some small, all good for our users.
The benefits of a new Pleo credit card

The first thing to know is that we’re moving away from prepaid cards.

Pleo will still be powered by Mastercard, but now we’ll be empowering our customers with credit cards.

It’s a collaboration with Mastercard and J.P. Morgan, seizing an opportunity that will help our customers hugely.

Tristan Attenborough, M.D. in EMEA Wholesale Payments at J.P. Morgan says: “The technology and our co-development approach means Pleo is now better placed to serve European SMEs and help them manage their expenses through a powerful combination of automatic liquidity management, real-time payments and multicurrency credit cards.”

All of that has three very obvious benefits for our customers:

A credit card is more widely-accepted than a prepaid one. That includes the ability to make payments to Google AdWords, Microsoft Azure, plus many car rental sites and hotel chains.

It’s more stable too. Nobody wants a card that doesn’t work - just as it’s their turn to pay for a team dinner. Now, Pleo cards will have an uptime of 99.9%. It’s still not perfect, but it’s a big step in the right direction.

And it’s more secure. 3D Secure payments (when you try to buy something online and need to enter in a code that’s been sent to you) can now be handled with a simple tap to approve a notification from the Pleo app.

We’re introducing credit too, something that’s going to ensure that your wallet never runs dry.

Yeah, this is a big one.
Credit when your team needs it

They say you never forget your first Pleo wallet top-up.

Managing your company spend is still straightforward with our new credit cards.

Admins add funds to a central wallet, one that every Pleo cardholder in the company has access to.

What’s changed? You’ll no longer see reference codes or waiting times.

We’ll work closer with your bank account too. Connecting with just a few clicks, you’ll be able to instantly fund your wallet and initiate automatic wallet loads.

And here’s the key thing.

Customers will also be able to use credit by Pleo to fund their wallets and ensure they never run dry.

Our state-of-the-art credit offering will enable you to get approved on the spot, with no personal guarantees, credit scoring, or security deposits required.

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