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Pleo launches new credit card service with J.P. Morgan

Denmark-based smart payments card provider Pleo has announced the launch of a new credit card in partnership with Mastercard and J.P. Morgan. Pleo states that the new offering will replace their old prepaid cards with new credit cards.

According to Pleo, the new offering is expected to provide benefits to the customers including wider acceptance than a prepaid one, stable with better uptime and simplified on-tap 3D Secure Payments. The company also aims to enhance the management of company spending with a new credit feature wherein admins add funds to a central wallet, one that every Pleo cardholder in the company has access to. It also aims to improve customer experience through instant connections to the bank, reduced waiting times and ability to instantly fund wallet or initiate automatic wallet loads.

Tristan Attenborough, M.D. in EMEA Wholesale Payments at J.P. Morgan said, “The technology and our co-development approach means Pleo is now better placed to serve European SMEs and help them manage their expenses through a powerful combination of automatic liquidity management, real-time payments and multicurrency credit cards.”

Pleo claims that their credit offering will enable customers to instantly get approved without the requirement for personal guarantees, credit scoring or security deposits.

Established in 2015, Pleo offers smart payment cards for employees in a bid to enable them to buy the things they need for work, all while keeping the companies in control of spending. Pleo aims to revolutionise business spending by reducing administrative complexity, eliminating expense reports and simplifying bookkeeping.

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