To allow companies to supervise their finances while keeping them safe from payment failures, Mesh Payments has rolled out a cardless payment offering for companies that simplifies recurring and one-time payments. The company noted that the product offers a full view and management over business spending in addition to allowing for orchestration, reconciliation and data on spending, according to a Tuesday (Sept. 22) announcement.
Companies have Mesh Payment’s cardless payment offering take the place of their current corporate card set-up, according to the announcement. Furthermore, Mesh Payments noted that small- to medium-sized businesses (SMBs) harness more than 40 subscription-based software packages on average, and a number of them are essential to business operations.
“Today, not only are businesses finding it increasingly challenging to align and control decentralized corporate spending, but they are also realizing that corporate cards pose a major business continuity risk. All it takes to interrupt a business's mission-critical services is their bank flagging a suspicious transaction and suspending their corporate card," Mesh Payments Co-Founder and CEO Oded Zehavi said in the announcement.
Global-e Chief Operating Officer Shahar Tamari noted that all of the company's subscription and Software-as-a-Service (SaaS) expenses replied upon its business card before putting Mesh Payments into place.
“Since we started using Mesh Payments digital, cardless payments solution, we've gained complete visibility and control over our subscription and SaaS spend,” Tamari said in the announcement.
In November, Mesh Payments unveiled a collaboration with Visa to let it integrate Visa virtual cards into its supplier payment offering. Mesh said at the time that the connection would reduce friction in supplier virtual card acceptance, while letting purchasers enjoy the expediency and transparency of prepaid commercial cards.
Their collaboration is geared toward cross-border B2B payments, which encounter an especially big challenge for payments speed and traceability, per Mesh at the time.
Mesh focuses on sellers throughout emerging markets, letting these companies link up with business purchasers globally.