Inbanx Taps Corserv to Add Card Issuing to Spend Control Platform

Inbanx has partnered with Corserv to launch Visa commercial credit cards.

In this collaboration, Inbanx will integrate Corserv’s payment card issuing platform into its own budget and spend control platform, the companies said in a Tuesday (May 2) press release.

“We serve our customers with an innovative and easy-to-use solution that adopts the next generation of payment capabilities to allow businesses and their employees to spend efficiently,” Inbanx CEO Rob Kaczmarek said in the release. “Corserv’s payment card platform was the only solution that afforded us the customizability and flexibility to build exactly what we needed for our customers.”

With Corserv’s payment card issuing platform, Payment Cards as a Service API (PCaaSA), Inbanx will be able to issue commercial credit cards with flexible features that include highly configurable spend controls and cooperative authorization, according to the release.

These embedded payment card solutions will integrate with and complement the Inbanx platform that automates expense reporting and budget tracking, prevents overspending and delivers real-time visibility into spending, the release said.

“Our highly configurable PCaaSA platform simplifies complex processes for Inbanx to launch and embed commercial cards in a secure, compliant and flexible way,” Corserv CEO Anil Goyal said in the release. “We are thrilled to work with Inbanx to integrate with their innovative budget and expense management solution.”

Businesses and enterprises are no longer satisfied with corporate card products that can merely facilitate electronic payments, Corserv Chief Business Officer David Luther told PYMNTS in an April 2021 interview.

Even rewards programs tied to that card may not be enough to meet the needs of corporates, Luther said at the time.

Instead, firms seek commercial card offerings that are paired with a range of value-added services like integrated spend controls, expense management automation and support for organizations wishing to migrate their suppliers toward card acceptance, Luther said.

“We’re seeing more FinTechs enter the commercial card space, coming up with creative solutions,” Luther said.

Commercial cards also assist in enforcing rules between trading partners and evening out traditional inequities, Boost Payment Solutions founder and CEO Dean Leavitt told PYMNTS in a November interview.

“It’s about educating the marketplace and also celebrating this equalization among the stakeholders in ways where both sides welcome the use and acceptance of these commercial card products,” Leavitt said at the time.

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