Travel management company TripActions has made its Liquid integrated
payment and expense management solution available in Europe through a
partnership with Stripe.
TripActions Liquid launched in February 2020 and has
received a number of additions over the last year, including bringing
all of the company’s payment and expense management products into a single
system for its US customers in October.
According to the company, Liquid gives finance teams real-time
spend visibility and control on a global scale. Policy controls are embedded
into smart corporate cards issued by Stripe, allowing corporates to automate
expense management from the point of transaction to reconciliation. Admins can
tailor spend controls based on role, expense category, business context and
other factors.
Virtual and physical cards issued by Stripe are available in
US dollars, euros, or British pounds sterling and can be used by employees for
common business purchases such as booking travel through TripActions, routine
expenses and recurring subscriptions.
Moreover, the TripActions app features a mobile receipt
scanner to allow employees to extract data from physical receipts and
auto-populate expense reports. Travellers can also connect personal card
accounts and import transactions for reimbursement.
Meanwhile, employees can receive rapid reimbursements executed
by TripActions’ partner banks through direct deposit when they connect the app
to a European bank account that supports SEPA or BACS transfers. Management
teams can configure Liquid to flag transactions that require attention and
automatically approve and reimburse everything else.
Finally, finance teams can automate the reconciliation
process.
Other partners involved in the delivery of TripActions
Liquid include Visa, Modern Treasury and Plaid.
The expansion of Liquid into Europe comes after TripActions added
another $275 million to its funding pot, bringing the total raised to date to
nearly $1.3 billion. The TMC – ranked the sixth largest in Europe in BTN Europe’s
annual listing – added a number of European customers with the acquisition of
UK-based TMC Reed & Mackay earlier this year.