Mastercard partners Innervation Rewards to launch SlipMate

By Pavithra R

Mastercard has announced partnering with Innervation Rewards, an incentive and rewards company, to launch SlipMate, an intelligent expense management solution designed for South African companies to reconcile employees’ corporate expenses from their Mastercard prepaid corporate card.

SlipMate offers a mobile app that empowers employees to capture, submit and track expense claims easily. The solution is backed by Standard Bank and Tutuka, and is built on Amazon Web Services (AWS) to ensure always-on availability and scalability. Embedded analytics provide HR and finance departments with visibility over the full expense claim process, from submission to pay-out.

“Building on our decades-long track record of understanding employee behavior and what drives people to succeed, together with our track record of disbursing funds to corporate employees, we developed SlipMate as a way to ease the complexity of operating in the modern business environment. In addition, as technology and innovation propel the business world into the future, with so many employees working remotely and having to convert part of their homes into workspaces or offices, having an efficient and user-friendly expense claims process can contribute to an improved employee experience and support talent retention,” said Steve Mallaby, CEO at Innervation Rewards.

The app’s Optical Character Recognition (OCR) capabilities for accurate capturing helps corporates to save time on administration and reconciling paper receipts. The automated receipt filing feature allows for real-time expense approvals allowing for faster reimbursements to the delight of employees. The expense claim processes are recorded for reporting and analytics to be used by management.

Employees will receive Mastercard corporate prepaid cards to securely pay for all travel and entertainment expenses. The card programme also gives companies more control over their employee spend, with option to add purchasing controls to eliminate fraud to improve policy compliance.

“We mark a new milestone in this partnership with Innervation Rewards to launch SlipMate. As we expand our solutions and support corporates and businesses in South Africa in their transition to digital, we continue to address the challenges that traditional channels pose by making corporate payments simpler, more secure and convenient. By using Mastercard corporate prepaid cards in conjunction with Slipmate, companies will significantly reduce their admin costs and overheads,” said Suzanne Morel, Country Manager for Mastercard, South Africa.

The solution further helps organisations and their employees save time on expense claims and reconciliation through several automated processes combining the smartphone app with company policies and systems that deliver intelligence back to the organization’s HR and finance teams.