TravelBank and U.S. Bank are announcing a partnership that integrates the TravelBank travel and expense management platform with the new U.S. Bank Instant Card to provide a modern and seamless all-in-one solution for corporate expense management.
The Instant Card and TravelBank expense integration is the first and only solution that will allow program administrators to issue Instant Cards directly from their expense management platform.
"With Instant Card, TravelBank's clients will be able to send a virtual card to an employee or contractor and set spending limits and expiration dates," said Tory Passons, Vice President, Commercial Card at U.S. Bank. "Funds are available immediately, the card can be used for contactless payment, and there is full integration with TravelBank's innovative travel and expense reporting platform."
Currently, most companies rely upon lengthy and outdated expense and reimbursement processes, leaving employees with out-of-pocket expenses to front, finance admins with an unnecessary amount of work, and businesses with an unrealistic view on finances. With this new integration, employees can instantly get a virtual corporate card pushed to their mobile wallet with a pre-approved budget and other set expense policy limits, while companies get access to real-time reporting, expense capture, policy management and approvals, reimbursements, general ledger sync, and analytics provided by TravelBank's award-winning design and user experience.
This new and seamless technology will offer companies an easy solution to deal with situations such as contractors needing to procure gas and supplies for a project, recruiters flying in a candidate for an on-site interview, or consultants who need to charge various project-related expenditures. On top of the expense management, customers can seamlessly manage their business travel program through TravelBank's online booking platform, which includes 24/7 traveler support.
"The mainstream adoption of mobile wallets is going to be key to bringing back businesses across the country," said Duke Chung, co-founder and CEO of TravelBank. "In a post-pandemic world, companies need to prepare to provide a contactless commerce experience where employees can seamlessly and efficiently make business purchases. We're inspired and committed to revolutionizing digital payments and expense management for work and are pleased to be doing so alongside an innovative and established financial institution like U.S. Bank."
Together, TravelBank and U.S. Bank are addressing the increasingly common payment challenges many organizations are facing and are helping to keep business operations running smoothly while reducing the burden of expense management and reconciliation.