UK-based fintech Flux announced on Wednesday it has joined forces with Pleo, a smart payment card issuer to create an “invisible expensing” experience for businesses in the UK. Flux reported that once the service, which will launch in the summer, goes active, it will send real-time itemized digital receipts directly to Pleo when cardholders shop online or in-store at Flux-supported retailers using their Pleo cards. The Flux team further explained:
“Many businesses describe expensing as a pain point, with SMEs collectively losing over £8 billion each year to the administrative burden created by business expense management, and a staggering £1.9 billion is lost to unauthorised or inflated expense claims. By streamlining the expensing process, our digital receipts will save Pleo’s customers time and make it easier to claim back expenses — letting them get back to what they do best!”
Speaking about the partnership, Luke Richardson, Director of Brand and Communications at Pleo, stated that both Pleo and Flux have a shared common value, which is to “remove unnecessary friction in an increasingly digital world.” Richardson then noted:
“For us, that’s with business spending. We’re excited to get to work with this new strategic partnership as it will allow us to automate even more of the Pleo experience so our customers can focus on what’s important: doing great work.”
Roisin Levine, Head of Banks at Flux said:
“We’re incredibly excited to be working with Pleo to bring the UK its first fully-automated, invisible expensing solution, and we look forward to rolling this out by Q4 2020 to the 7,000 companies using Pleo in the UK.”