Flex by Finaxar helps SMEs spend
Small and medium-sized enterprises (SMEs) can now issue Flex Visa Debit cards to their employees to better regulate business spending using the Singapore-based FinTech platform Finaxar Holdings Pte Ltd’s Flex by Finaxar.
Cards have access to the SMB’s Flex account, and businesses can implement spending controls and choose allowed categories to reduce the risk of abuse.
Business owners can set specific monthly spending limits with transaction limits using the Flex by Finaxar platform and facilitate payments, while giving business owners control over all spending.
“We believe that you cannot manage what you cannot control,” said Dr Tan Sian Wee, managing director of Finaxar Holdings Pte Ltd, in the joint announcement. “Adding advanced expense controls to the Flex app will allow SMBs to exercise complete end-to-end control over their business expenses. “
Flex by Finaxar helps SMEs get more accurate and real-time information on expenses, debts and lines of credit. Cardholders can also access working capital of up to S $ 100,000 (approximately $ 74,000) in the form of interest-free credit, approved within 48 hours, for up to 35 days.
Flex by Finaxar’s partnership with ipaymy allows Singaporean businesses to access lines of credit with their Visa cards to pay for expenses such as rent, salaries, bills and corporate tax.
“Providing SMEs with an easy-to-use, flexible solution with real-time capabilities is at the heart of our innovation,” said Tan. “This will allow SMEs to remain responsive to business requests and reduce manual administrative tasks. “
Related: Finaxar, Visa partner to unify expense management for SMEs
Finaxar announced the launch of its Flex by Finaxar program last year.
Vihang Patel, co-founder and CEO of Finaxar, said at the time that the company “realized that businesses face slow transaction times due to manual administration of invoices, payments and receivables. This has an impact on their cash flow and their overall responsiveness to business demands.