The Munich DAX Fintech Wirecard issues the SpenditCard, the credit card of the HR startup Spendit replaces employee benefits such as fuel vouchers.
The SpenditCard is essentially a prepaid credit card that cannot be used to withdraw cash. Employers can use the card to pay their employees tax-free fringe benefits. Instead of traditional benefit vouchers, employees receive a credit card. This can be customized to the employer's corporate design. Per year and employee, tax-free benefits of up to €708 are possible, plus an additional €11,000 taxed at a flat rate.
“For Spendit, Wirecard is the ideal strategic partner”
Until now, the startup has offered the card as a preferred partner of Mastercard. Now the fintech Wirecard, which recently joined the DAX, the publisher. The financial company based in Aschheim near Munich has been providing benefit products for large companies for some time.
“With the SpenditCard, we are setting new standards in the digitalization of benefit programs,”
so Catharina Tiede, Head of Partner Management at Wirecard.
"This partnership provides exciting impetus for the use of consumer cards as corporate incentives. We look forward to working with Spendit AG to digitize employee programs across Europe in the future."
Florian Gottschaller, founder and CEO of Spendit AG, wants to expand his company's customer portfolio and open up new European markets with Wirecard as a partner. He says:
"For Spendit, Wirecard, as the market leader, is the ideal strategic partner because it shares our vision of developing innovative products for global employers and further advancing digitalization for benefit products."
