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Purchase Card Programs: Fintech or Bank?

Fintech purchase cards offer a more flexible, convenient, and cost-effective alternative to traditional bank purchase cards. Learn why fintech purchase cards are the future of financial management.


Fintech purchase card programs have eclipsed traditional bank offerings


Traditional purchase card offerings from banks have been around since the 1990s, with little competition. But recently fintech startups have edged into the marketplace, creating a small niche that is rapidly growing, and for good reason. These companies offer a number of advantages over traditional bank purchase cards, including:


A simplified user experience

Fintech purchase cards are designed from the ground up by companies that take user experience seriously. Their clean, intuitive mobile apps and digital platforms that make it easy to manage your cards and track your expenses.

Lower costs and fees

Fintech offerings typically have significantly lower fees than traditional bank purchase cards.

Greater scalability

Fintech purchase card programs can be easily scaled up or down to meet the changing needs of your business without the red tape that characterizes bank products.

Tailored customization

Fintech purchase cards allow you to tailor your card program to your specific business needs, such as setting spending limits for individual employees or departments, restricting card usage to certain categories or vendors, and customizing card designs.

Real-time insights

Fintech purchase cards provide real-time transaction insights, so you can stay on top of your spending and make informed financial decisions.

Transitioning to a fintech purchase card program

If you're looking for a more flexible, convenient, and cost-effective way to manage your business finances, a fintech purchase card is the way to go.

Here are some specific examples of how fintech purchase cards can benefit your business:

  • Reduce costs: Fintech purchase cards can help you reduce costs by offering lower fees and higher rewards.

  • Reduce downtime: Fintech purchase cards can be issued in minutes rather than days, with adjustments to their spend limits managed in real time rather than over the phone with a bank.

  • Increase control: Fintech purchase cards can help you increase control over your finances by allowing you to tailor your card program to your specific business needs as they change.

  • Gain insights: Fintech purchase cards can help you gain insights into your spending by providing real-time transaction data and analysis of trends.

Fintech purchase cards are the future of financial management. By offering a more flexible, convenient, and cost-effective way to manage finances, fintech purchase cards are helping businesses of all sizes to save money and improve efficiency.

Ready to move your purchase card program forward? Reach out to a Speedchain expert to learn more about our industry-leading customization, control, and ease of use.


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