Spendesk launches payment institution to expand its platform

By Gloria Methri

Spendesk, the complete spend management platform for mid-sized businesses, has officially launched its payment institution, Spendesk Financial Services. Regulated by the ACPR and including a strategic collaboration with VISA, Spendesk Financial Services enables the company to deliver innovative and secure payment solutions to its clients across France and the European Union.

With this, the spend management firm now has end-to-end control over its payment services infrastructure. This strategic initiative represents a significant milestone in the evolution of its platform. The company offers its 5,000 client businesses, representing more than 200,000 users across Europe, a fully integrated spend management solution.

Beyond payment management, Spendesk Financial Services enables the platform to centralise operational processes and introduce new features faster.

Financial services include account management and the provision of various payment methods, such as physical and virtual business cards and transfers. Integrated within Spendesk’s spend management solution, Spendesk Financial Services supports an end-to-end customer journey from procurement and spend management to payment.

The introduction of the payment institution enhances the platform’s efficiency, offering improved service levels and responsiveness for a continuously optimised user experience. It also serves as an innovation engine, paving the way for the development of new services and payment features, such as the recent launch of Spendesk Procurement.

“With Spendesk Financial Services, we are not just managing payments. We now have complete control over our technological infrastructure, allowing us to innovate faster and respond more effectively to the needs of European SMEs and mid-market companies,” said Stéphane Dehaies, President of Spendesk Financial Services.

“The autonomy enabled by Spendesk Financial Services allows us to continue innovating while providing clients with enhanced security and simplified management. Our goal is to become the standard for payment at work in Europe, and this launch is a crucial step forward. The strategic collaboration with VISA enables us to control the entire payment chain and unlock innovation,” said Axel Demazy, CEO of Spendesk.

“We are delighted to work with Spendesk Financial Services, which shares our ambition to provide secure, efficient, and innovative payment solutions to their clients,” said Romain Boisson, Managing Director of Visa in France. “For nearly 50 years, Visa has been innovating to simplify and streamline payments for those in France and beyond. This collaboration aligns with our commitment to strengthening our presence in the B2B market, particularly with French small and medium-sized enterprises.”