CleverCards to acquire spend management solutions provider ExpendiaSmart

By Megha Bhattacharya

Global payments platform CleverCards today announced that it has entered into a definitive agreement to acquire the business of ExpendiaSmart including the related Italian Licensed Electronic Money Institution, subject to regulatory approval. ExpendiaSmart is a provider of spend management solutions, enabling large businesses and enterprises to manage expenses using its spend management software and smart corporate cards.

“Sharing our obsessive focus on customer and user needs, the ExpendiaSmart team have built a solid business by earning the trust of large enterprise customers across many industries. The CleverCards platform will empower ExpendiaSmart customers to accelerate their digital transformation. With CleverCards, Businesses, Governments and Public sector organisations simply send a digital prepaid Mastercard to an email address or mobile phone number by SMS or WhatsApp, enabling anyone, anywhere, anytime, to be paid instantly. This makes it possible for recipients to spend online, or use their mobile in-store contactlessly using Google Pay, Samsung Pay or Apple Pay immediately. I am excited to welcome the outstanding ExpendiaSmart team” said Kealan Lennon, CleverCards Founder & CEO.

Subject to regulatory approval, the addition of the Licensed Electronic Money Institution to the CleverCards group will boost its speed and agility in serving these markets and customers across Europe. In February this year, Mastercard and CleverCards signed a strategic partnership to expand the usage of digital cards across Europe.