Spend management platform Yokoy is launching a new lodge card product offering payment, processing and expense reporting.
The Switzerland-based fintech company is targeting medium and large organisations with its “digital-first” Smart Lodge Card, which will also provide “real time” data and automated reconciliation for travel transactions.
Philippe Sahli, CEO of Yokoy, explained : “Whenever businesses struggle with payment reconciliation, the primary issue is typically the volume and complexity of transactions like cancelled transactions.
“By using the Yokoy Smart Lodge Card, companies are able to address this problem and automate the whole matching and reconciliation process.”
The Yokoy’s new lodge card will directly feed all travel and transaction data into the spend management platform where it can be reconciled without the need for any manual processes.
The virtual card has been integrated with TravelPerk’s booking tool, as well as travel agencies using travel profile data service Umbrella. Yokoy is also planning further integrations with other “market-leading” travel companies.
Founded in Switzerland in 2019, Yokoy has been expanding in Europe by adding Spain as a market last year, as well as being appointed the travel expense partner for the Dutch government.