Brex, the corporate card and spend management platform for startups and enterprises, announced Brex Embedded payments – a new API-driven payments solution that makes it easy for B2B software vendors to accelerate customer workflows with Brex virtual cards.
By integrating with providers across categories like procurement, travel, and enterprise resource planning (ERP), Brex continues to “expand its enterprise footprint, which already includes hundreds of customers like Atari, Sonos, and Five Guys.”
Global B2B payment volume has skyrocketed over the past decade and businesses around the world are increasingly embedding payments into their products “to help streamline their customers’ workflows to generate new revenue streams.”
However, building financial services capabilities “in-house is costly, time-consuming, and creates significant regulatory and financial risk.”
Brex Embedded leverages proprietary APIs and issuing integrations—” including Mastercard’s innovative virtual card platform—to enable any software vendor to seamlessly integrate Brex’s global corporate card and payments capabilities directly into their platform, without the overhead of underwriting, onboarding, and credit risk.”
For Brex Embedded partners, their customers can “make fast, secure global payments in virtually any currency, all while automating their existing financial workflows and payment reconciliation.”
Brex Embedded payments give software vendors, “such as Sabre and Coupa, a single point of integration that allows them to embed Brex virtual cards with up to 40x higher limits, industry-leading rewards, and local currency payments in 50+ countries–saving end customers time and money.”
With Brex, these software vendors can onboard global customers in days, instead of months, and ensure all spend “conducted on their platforms is automatically reconciled for accounting.”
Hundreds of customers like DoorDash, Boomi, and ScaleAI are “already processing nearly $1 billion in annualized payment volume using Brex Embedded payments while saving an average of 440 hours per year on manual GL coding and reconciliation and hundreds of thousands annually on FX fees.”
Brex offers the world’s corporate cards, treasury solutions, and intuitive software “for travel and expenses — all on one AI-powered platform that transforms finance teams from no-sayers to growth drivers by making it easy to empower employees to spend with confidence.”
Tens of thousands of companies, from startups to public enterprises, including Flexport, ScaleAI, DoorDash, and Compass, use Brex to “proactively control spend, increase efficiency, and reduce costs on a global scale.”
