B2B Payments

Emburse Teams With Mastercard For Expense Automation

expense management

Emburse, which works in expense management and accounts payable (AP) solutions, is working with Mastercard and Amazon Business to offer corporate customers new options for streamlined business expense automation, according to a press release emailed to PYMNTS.

The offer will help Mastercard corporate customers using Amazon Business to access new perks like automated receipt generation and itemization of expenses through the Emburse expense automation solution.

The integration is an improvement on the old ways wherein companies would have to manually upload receipts and create expense items for each one if their employer’s required line-item breakdowns. eReceipts also needed to be reconciled with corporate cards.

Now, the receipts will be handled automatically and put directly into the customer's receipt wallet, the release stated. Then the items will be automatically categorized into line-item breakdowns as well, based on the customer's purchasing history and company policies.

“Outside of travel bookings, Amazon is one of the most commonly expensed merchants that we see," said Emburse CEO Eric Friedrichsen, according to the release. "Many of our customers are using Amazon Business for their business purchases and are looking for a solution that automates the expense process. This integration takes what was previously a time-consuming and manual task and makes it happen at the touch of a button.”

James Anderson, executive vice president of Global Commercial Products with Mastercard, said the idea is to create smarter solutions for B2B payments.

"Business-to-business payments are changing, to work harder and smarter, and capitalize on the accelerating shift to the digital economy," he said, according to the release. "Mastercard is modernizing the business payment ecosystem to provide greater control, automation and efficiencies."

Amazon's ventures into the B2B world have been gaining steam, PYMNTS reported, with the unit growing faster than retail and Amazon Web Services by comparison. That said, Velocity Sellers Founder Jake Schwarzbaum said there could be more drive for companies to provide similar marketplace services for B2B needs as well, while regulations could threaten the efficiency corporates need.

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About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.

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