Corpay One Introduces Corpay Mastercard With Bill Pay Capabilities

For businesses, managing cash flow and keeping up with expenses is key. That’s where Corpay One comes in. Corpay is a platform that helps small businesses and self-employed individuals keep track of their expenses and pay their bills. When vendors send invoices to a user’s Corpay One email address, the details will display in the customer’s inbox, allowing them to pay the invoice with a click.

Additionally, Corpay One introduced its Pay By Card feature last September, enabling customers to use a credit card to pay invoices, even when the vendor only accepts checks or ACH transfers. Building on that, Corpay One has introduced a credit card of its own: the Corpay Mastercard.

With the Corpay Mastercard, customers will earn a 1.5% cashback rebate on bills they pay through Corpay One. However, cardholders will still be subject to the 2.9% transaction fee for using the Pay by Card service. Meanwhile, they’ll earn 1% cashback on all other eligible purchases. According to the fine print on the Corpay Mastercard site, fuel purchases are not eligible for rebates.

In a press release announcing the offering, Corpay One president Danny Martucci explained the need for the product, saying, “Cash flow has always been top of mind for small businesses. With the Corpay Mastercard, we are giving small businesses new options to optimize their cash flow.” Martucci continued, “Combined with Corpay One, which automates tasks like bill pay, expense coding and reimbursements, we are further giving small businesses the tools they need to operate efficiently and grow.”

Speaking to their experience with the card and platform, Corpay One customer Derek Reese explained, “The integrated format of Corpay One and Corpay Mastercard allows me to pay business bills using my credit line, which is really convenient. The dashboard provides a useful overview of my bill pay activities, like completed payments, my spending trends and the amount remaining on credit line.”

Overall, while the Corpay Mastercard may make sense for those business owners who are a part of and enjoy using the Corpay One ecosystem, there does seem to be a missed opportunity with the offering. Namely, although earning 1.5% back on bills paid is nice, it would certainly be more attractive if Corpay waived the transaction fee for cardholders instead. Without this feature, there may be other cards that make more sense for business owners overall — many of which can still be used with the Pay with Card platform. But, if better integration is what you’re after, then perhaps the Corpay Mastercard will be right for you.

Author

Jonathan Dyer

I'm a small town guy living in Los Angeles looking to make solid financial decisions. I write for a number of finance websites, including HuffingtonPost and Business2Community. I founded DyerNews.com in 2015 to focus on personal finance and the emerging FinTech markets.

Other Articles by Jonathan Dyer

Amex Launches Digital B2B Payments Platform Business Link

For consumers, these days, there's no shortage of peer-to-peer apps they can use to move money, with some popular examples including Cash App, Venmo, and Zelle. As for businesses, the list of options for sending money to vendors may be more limited. Now, a well-known credit card company and small business supporter is introducing a new platform for this purpose. This week, American Express announced the launch of Amex Business...

Carbon Credit API Cloverly Joins Visa's FinTech Partner Connect 

Last year, Visa introduced the FinTech Partner Connect program to the United States, with the goal of introducing institutions to vetted startups that could help them expand their product offerings. Now, the latest company to join the program is Cloverly. Founded in 2019, Cloverly is an API for carbon credits, allowing businesses and consumers to help fight climate change. As the company points out, with the Visa partnership, Visa clients...

Prosper Announces $75 Million Growth Capital Financing

A long-admired FinTech has added some new capital to its coffers and it continues to grow after more than 15 years in business. Recently, Prosper Marketplace announced that it had closed a $75 million debt financing round. This capital came from a fund managed by Neuberger Bergman and will be used to help Prosper meet the demand for its loans, credit card, investment products, and more. According to the company,...