Expensify Launches Corporate Card in Europe

Key Terms

vat regulatory

A value-added tax (VAT) is a consumption tax charged at each stage of producing and selling goods or services, collected by businesses on behalf of the government. Think of it as a small extra charge added along a supply chain that companies remit to tax authorities; for investors it affects pricing, profit margins, cash flow and regulatory risk because firms must manage collection, reporting and potential refunds across jurisdictions.

virtual cards financial

Digital payment cards that exist only as electronic numbers and settings rather than a physical plastic card; they can be single‑use or set to expire after a short time and are linked to a bank or corporate account. Like a disposable key for one online purchase, virtual cards cut fraud risk, make expense tracking and reconciliation faster, and let businesses tightly control who can spend what — factors that can lower losses and boost revenue or efficiency for banks, fintechs and corporate clients.

commercial cards financial

Commercial cards are payment cards issued to businesses for expenses like supplier purchases, travel, fuel and other operational costs; think of them as company credit cards that replace invoices and petty cash. They matter to investors because they create steady fee and interest income for banks and payment processors, provide insight into corporate spending trends and cash flow, and can affect credit risk and profitability for firms that issue or service them.

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Finance teams across the UK and EU can now issue Expensify Visa^® Commercial Cards for real-time spend visibility, built-in policy controls, and fewer reimbursements.

SAN FRANCISCO--(BUSINESS WIRE)-- Expensify, Inc. (Nasdaq: EXFY), the easiest way to manage expenses, corporate cards, and travel, today announced that the Expensify Card is available to businesses of all sizes in the UK and select European markets, including Spain, Ireland, Poland, and the Netherlands.

“The Expensify Card works quietly in the background to keep your business spend controlled, compliant, and ready for accounting,” said David Barrett, founder and CEO of Expensify. “It’s a preaccounting assistant that eliminates hours of reconciling transactions, chasing receipts, and reimbursing employees. One of our US customers, Pivot Bio, cut down on their expense report audit times by 90%. We can’t wait to share that same time savings with millions of businesses in the UK and EU.”

Key benefits of the Expensify Card include:

• Real-time spend visibility: Transactions appear instantly in Expensify, so finance teams aren't waiting until month-end to see what was spent.
• Auto-categorization and receipt matching: Concierge AI automatically codes and matches receipts to transactions while incorporating member preferences and feedback.
• Spend controls: Spending limits block non-compliant purchases in real-time, and category rules flag out-of-policy transactions before they’re approved.
• Virtual cards for one-off purchases: Single-use and date-limited virtual cards provide flexible options for contractors, subscriptions, or project-based spend.
• Daily or monthly settlement: Settle balances on a schedule aligned with cash flow.
• VAT support: Built-in VAT tracking and enhanced statement reporting make UK and EU compliance easier to manage.
• Accounting integrations: Automatic, two-way syncs with QuickBooks, Xero, NetSuite, Sage Intacct, and more make reconciliation faster.
• Global flexibility: Use the Expensify Card at millions of locations worldwide, with zero foreign transaction fees.
• Easy setup: Connect any GBP, EUR, or US business bank account. No minimums, deposits, personal guarantees, or credit checks required.
• Subscription savings: Teams that use the Expensify Card for business spend qualify for up to 50% off their Expensify subscription.

The launch is part of the company’s broader push into global markets, including support for corporate cards from 10,000+ banks worldwide through its Bring Your Own Cards (“BYOC”) program.

Visit Expensify’s help site for the full list of supported countries.

About Expensify

Expensify is the easiest way to do your expenses, travel, and corporate cards. Built for businesses of all sizes and trusted by 15 million members worldwide, Expensify is a top-rated app across G2, TrustRadius, Capterra, and more. Learn more at expensify.com.

The Expensify Visa^® Commercial Card is issued by The Bancorp Bank, N.A., pursuant to a license from Visa U.S.A. Inc. for US based customers, and by Transact Payments Malta Limited for EEA customers, or Transact Payments Limited for UK based customers, pursuant to license by Visa Europe Limited. Transact Payments Malta Limited is duly authorized and regulated by the Malta Financial Services Authority as a Financial Institution under the Financial Institution Act 1994. Registration number C 91879. Transact Payments Limited is authorized and regulated by the Gibraltar Financial Service Commission. The Expensify Visa Commercial Card may not be used at all merchants that accept Visa cards.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260720653615/en/

James Dean, press@expensify.com

Source: Expensify