Teampay in collaboration with Mastercard introduces Catalyst

By Pavithra R

Teampay, the leading distributed spend management platform provider, has announced the launch of Catalyst, a first-of-its kind digital corporate card that combines the innovative technology of Teampay’s platform with Mastercard’s capabilities, ushering in a new era of a premium commercial card experience for executives.

“Catalyst by Teampay is a groundbreaking step forward for the future of corporate cards. Teampay is dedicated to streamlining and simplifying the process for spend, no matter how or where purchases are made. Our partnership with Mastercard allows us to deliver a digitally driven proposition offering our customers a state-of-the-art experience. As an exclusive, luxury card for executives, Catalyst is an exciting opportunity to build upon Teampay’s existing capabilities that revolutionize corporate spending,” said Andrew Hoag, CEO of Teampay.

Besides being digitally driven, the new premium offering provides World Elite Mastercard benefits and services, including car rental and travel insurance, purchase protection, Mastercard ID Theft Protection, concierge services, and more. Catalyst combines these elements directly with the ease of use, automation, and transparency provided by Teampay’s spend management software to create a next-generation executive card that will set the foundation for the future of business spend.

Upon company issuance, Catalyst can be pushed to a cardholder’s mobile wallet so they can make purchases immediately online, in-app, and at the point of sale. With its sleek design, the Catalyst card is numberless, allowing cardholders to access their information via digital environment. Additionally, cardholders can easily lock the physical card if misplaced, access their transaction history and balance information, receive alerts, and view card benefits.

“The role of digital has forever transformed the way we transact and has shifted the expectations for quick and simple payments. We’re pleased to couple our leading solutions and benefits with Teampay’s intuitive platform to deliver a digitally-motivated, relevant and secure experience for the commercial card segment,” said Sherri Haymond, executive vice president, Digital Partnerships at Mastercard.

Leveraging Teampay’s existing capabilities, finance teams benefit from real-time visibility into Catalyst purchases and automated reconciliation into their accounting systems. To ensure enhanced user experience and improve offline purchasing, Teampay is also launching a new iOS app, Teampaygo. Through this app, Teampay users and card owners will be able to request funds, check balances, access digital cards, upload receipts in real time, and more.