Soldo Launches Spend Management App With Wirecard

Commercial card company Wirecard Card Solutions, a unit of Wirecard, is lending its prepaid corporate spend capabilities to Soldo as the two launch a spend management app for SMEs.

Soldo, a U.K.-based FinTech that provides corporate and family spend accounts, will link its Corporate Expense money management program to Wirecard commercial prepaid money cards in a new app for its business customers, the companies said Wednesday (June 7).

Soldo will offer the Corporate Expense prepaid Mastercard tool to U.K. and Italian SMEs. The app can provide business managers with notifications about real-time spend so they can more efficiently manage employee use of corporate money cards. Soldo’s platform supports control over transactions, withdraws and spend made during corporate travel from within the app, the companies said.

“Soldo is simplifying spending with an intelligent account that will put an end to the painful process of cash advances, make bookkeeping effortless and automate receipt tracking,” said Soldo founder and CEO Carlo Gualandri in a statement. “It’s the first Business Spending account of its kind in the U.K. and Italy, giving financial autonomy to employees and departments while allowing the account holder to retain control via a management dashboard that ensures peace of mind with enhanced security.”

“Soldo have streamlined the process of managing expenditure with this simple and straight-forward solution for corporates,” added Wirecard Card Solutions Managing Director Tom Jennings in another statement. “Italy is a mature market for prepaid where the payment method is widely accepted and prepaid users represent the mass market.”

Wirecard revealed this year that it would partner with AFEX to launch prepaid corporate money cards with cross-border payment capabilities across Europe.