News
Spendvision’s new eMoney Module Enables Businesses to Track and Manage NFC Transactions
July 2011 by Marc Jacob
Spendvision, a global provider of total transaction management solutions, announced the availability of its new eMoney module, which allows businesses to capture, manage and report on purchases made using Near Field Communication (NFC) technology. The module will enable eMoney transactions to be integrated with all other types of spend, making it easier for staff to record all expenses, irrespective of the payment method used, ultimately affording businesses greater insight into what employees are spending.
Momentum is growing for services that enable consumers to purchase low value items by tapping their mobile phone or a pre-paid card against a reader at the checkout. Indeed, Juniper Research recently predicted that global NFC mobile contactless payment transactions will reach nearly $50 billion worldwide by 2014. However, as more employees start buying goods and services in this way, enterprises are faced with significant challenges as they attempt to incorporate digital cash into the overall picture of corporate spend.
Spendvision’s new module is available worldwide, with the company expecting initial uptake to be most significant in Japan, where the use of NFC is more advanced.
The new eMoney module will also help businesses to manage the split between private and business spending. With the line between work and personal spend blurring, having a single mobile device or eMoney card is becoming the norm and it is vital that businesses are able to easily identify who needs to pay for what. Spendvision facilitates this by enabling employees to select which transactions are business-related on their card or device.
The eMoney module is available as an ‘opt-in’ upgrade to the Spendvision platform, a secure Software as a Service (SaaS) application, meaning that companies do not have to invest in, install or maintain any hardware or software. The module can be configured to work with any processor of eMoney.
