Spendvision Adds NFC to Expenses Tracking System

UK-based Spendvision has announced the release of an NFC-enabled “eMoney” module for its widely-used expense management and tracking system.

The module will allow corporations using virtual or actual purchasing card technologies to capture, store, and report on transactions made using NFC devices, as well as allowing individual users to designate such transactions as personal or business in real time.

According to Spendvision,

“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 cash register. … 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.”

The Company’s COO Shane Bruhns explains further:

“As employees increasingly begin to use ‘wave and pay’ technology to pay for anything from transport fares to newspapers, from refreshments to stationary supplies, businesses will need to find a way of incorporating these payments into the expenses mix.

… With so many low value transactions to be accounted for, the key to integrating them with other types of expense is to provide employees with a simple, quick way to log and manage all their payments, including eMoney. That’s exactly what our new module is designed to do.”

The Spendvision eMoney module is available worldwide immediately on an opt-in SAAS-delivery basis.

It is expected to be particularly attractive to major corporate clients in Japan and other countries where NFC technology has experienced far higher adoption than in the U.S.

Spendvision’s basic platform is also the foundation of Visa’s IntelliLink Spend Management , the global solution for Visa corporate card users introduced in October 2009.

Assuming that Visa sees a market among its own customers, it is likely that this technology is, or will soon be, available to all or most Visa corporate card customers.