Show HN: Emburse – Employee Debit Cards with Oversight
emburse.comFounder here - looking for feedback on the product. You can think of Emburse as being like AmEx with Expensify-like features built-in. If you're in the process of transitioning from having all spend on a shared corporate card to having cards for each department or employee, definitely take a look.
Best of luck.
Minor item: FAQ says that pricing will be available by end of 2015, which has just passed.
As for product feedback, I've literally never understood the appeal of debit cards over credit cards. I get cash back, delayed payments/free float, better anti-fraud, and better purchase protections with a credit card. So, I wish you the best of luck, but I don't "get it" unless there's a largish market that can't get (or can't handle) credit cards.
For now, we're starting with a debit card product because they're easier to launch. Eventually, as the product gains more traction, it will be easier to launch a credit product with the advantages you're looking for.
Which that said, there's plenty of opportunity as a debit card product. We believe that no financial product right now really prioritizes spend control and bookkeeping accuracy in the way we do within our product.
I like the concept. Best of luck!
The concept piqued my interest but after reviewing the FAQ, I am a bit underwhelmed. The upside is that I get better oversight, the downside is that all expenses are on a prepaid cash only basis (since it's a prepaid card, I have to front the money well before the purchase is made). Purchasing card programs are not just about oversight, they are also about cash flow and trade credit optimization. It seems that the app only addresses oversight.
For some companies such as those in manufacturing, enhanced oversight and better spend control are necessary card program requirements. I agree that business credit would add significant value. Thanks for the suggestion.
Love what Emburse is doing with company expenses.