The Expensify Card Replaces Traditional Rewards Points With Donations to Fight Homelessness, Hunger, and Climate Change Through New Charity Expensify.Org Expensify , the world’s most widely-used and fastest-growing expense management platform, announced a new corporate card initiative, Karma Points, that makes an automatic charitable donation every time an Expensify … We spent a staggering amount of time, money, and creativity to make it real. With every swipe, Expensify will donate 10 percent of Expensify Card revenue to causes aimed at keeping people off the streets, getting hungry kids meals, and fighting … Donations are completely free to the cardholder and route to one of five funds under Expensify.org: Homes, Youth, Reentry, Hunger, or Climate. The Expensify Card, which is available in the Collect and Control plans, carries no fees, nor does it charge interest, and it has no minimum commitment required. Not an Expensify user yet? So while the card we launched in October is by far the best in the world for owners, we want it to be the absolute best for employees too. labelInvoice Management. Check out Expensify.org for more information about the five funds, volunteer opportunities, and more ways to give! Expensify cardholders simply make a purchase, and Expensify donates 10% of card revenue to Expensify.org on the cardholder’s behalf. The Expensify Card replaces traditional rewards points with donations to fight homelessness, hunger, and climate change through new charity Expensify.org. But I had a huge supply chain of vendors I needed to impress, so I just started saying “yes” to everything everybody asked: “This new iPhone thing, does it support it?”, Even though it doesn’t have an app store yet so it’s impossible, “Yes we totally have an iPhone app.”, Even though the original iPhone’s camera was so bad it made completely illegible receipt images, “Yes, totally we scan receipts.”, I’ve never heard of those letters before, but “Yes we totally do that.”, “Yes, it obviously exports to QuickBooks and… you know, all the others.”. Expensify cardholders simply make a purchase, and Expensify donates 10% of card revenue to Expensify.org on the cardholder’s behalf. [Press Release] January 2020: Expensify Launches First Ever Corporate Card Rewards Program That Makes a Difference: Karma Points [Newsletter] January 2020: The Case for Karma Points: The Only Card Reward that Makes a Difference. And I was like… “Uh, cool man, maybe someone will do all that, but definitely not me. Bill Camarda. To maximize simplicity and participation in the program (which again is completely free and automatic for you -- like Smile, but without needing to remember to do it), we’ve picked five areas to fund that are organized around keeping people off the streets, getting hungry kids meals, and climate change. Banks and investors hated the idea. Rewards worth hundreds of billions of dollars go unredeemed every year, and most people with rewards cards spend more in fees and interest than the paltry rewards they earn. We’re making this possible through our new direct-reimbursement charitable arm, Expensify.org. Then we looked into point programs, but wow, the math is pretty brutal. There’s no way I’ll help you. $436 in credits for 12 months. But good news for us that the competition is so easy to beat in this regard! Given this, we started looking at the reward programs of personal cards for inspiration. This is our world after all, and for the foreseeable future, we’ve only got the one. While this automatic offsetting feature is built into every purchase with the Expensify Card, no company has perfect corporate card compliance. To be clear, those perks are great… if you're the owner. Turn off the echo chamber online. Because card issuers only keep some of the processing fee, only a … Expensify's launch of a commercial card reflects growing popularity of the spend tool, no only in the accounts payable department but in the expense management and employee spend arenas. Better Expense Management: 4 Ways to Help Track Spending More Closely. In the search for some other employee-focused perk to offer, we first checked out the competition. Use your Expensify Card to redeem exclusive perks and discounts from our industry-leading partners. 1% OFF EVERYTHING!”. Turn off the talking heads on TV. labelSpend Control. John Boitnott. But before I do, I need to admit something. Expense reports! In short, we’re donating 10% of all revenue 2019 [Newsletter] October 2019: Why We Made the Expensify Card Unlike Any Other And when you remove all the marketing spin and statistical subterfuge, splitting something as small as fractions of pennies between a million different cardholders isn’t inspiring, to anyone. Introducing Karma Points, the newest Expensify Card initiative that makes an automatic charitable donation with every swipe. 10% off Talent & Advertising product. Smart improvements to the workflow keep Expensify intuitive. (If you don’t already have yours, request it right now in your Expensify Inbox: it’s completely free for you and all Expensify customers.) The Expensify Card is our way of helping all companies not just save hours doing expenses, but truly combine forces to save the world, one swipe at a time. So I wanted to help, but I wasn’t sure how to do it without doing more harm than good -- and I figured the most obvious place to help was not with cash, but food. Amazon Smile has donated $156 million to date, which is impressive. My resolution in 2020 is to turn off that noise, and I’d ask you to do the same. The large print giveth, the small print taketh away. Typically, all you have to do is sign … Points are like pennies you can only spend on a full moon at an invisible concession stand guarded by pumas. Card may either be a physical card embossed with a 16-digit number or a virtual card represented by a 16-digit account number. Now you know the secret to Expensify’s origin, how the Expensify Card fulfills our original dream (albeit in a different, better form), and how Expensify.org is a new kind of charity building a global community based on transparent and direct engagement with people in need. labelPCI Compliant Security. It’s easy to give up, to accept that They are responsible, and that You are helpless. Then the economy collapsed, my savings were wiped out, and I lost my job all in quick succession. The key features of Expensify are as follows: labelData Imports/Exports. That’s when Barrett decided to, by his own admission, make the idea a little more “boring.” Instead of prepaid debit cards for homeless people, he pivoted to making prepaid debit cards for employees. Tl;dr - Starting today, we will donate part of every USD purchase made with your Expensify Card to a purchase-appropriate charitable fund (namely: climate change for travel purchases, homelessness for hotel purchases, hunger for restaurants, etc). You can also support Expensify.org, when shopping on Amazon, by using this link. In short, we’re donating 10% of all revenue (which is way, way more than 1% of profit) from the Expensify Card towards making the world a little better, one swipe at a time. Learn more about the #1 Expense management app here! labelMulti Level Coding Here’s how Expensify will route donations to the five Expensify.org funds: MCC (Merchant Category Code) is Hotel -- when paying for your lodging, your offsetting donation goes towards the Homes fund which covers the costs of reuniting a person experiencing homelessness with their family so they have a safe, stable environment to get back on their feet. To our surprise, we couldn’t find a single company-issued corporate card that offers perks to employees: they're all so focused on offering rewards to business owners for employee spend (which makes sense, as they are the decision-makers), that card issuers ignore the people actually spending the money. Sign up today to get started with expense reports that don't suck! $5,000 in AWS credits. Where does the money go? But instead of points or miles, the Expensify Card is funneling fees toward dedicated funds for specific causes. The Expensify Card replaces traditional rewards points with donations to fight homelessness, hunger, and climate change through new charity Expensify.org. But like all corporate cards, our initial “perks” were focused at business owners -- free AWS credits, discounted Stripe fees, and so on. If you want to get involved, click one of these buttons. But these donations are spread across a million charities, or like $156 per charity. Expensify Corporate Card Adds Karma Points Karma Points is an initiative of expense management platform Expensify, which uses Sutton Bank to issue the Expensify Card, a Visa corporate card product. I’ve spent more than ten not-so-patient years preparing to share this story. Everything must go! But over those years, the initial idea has been nagging at me the whole time. Don’t have the Expensify Card yet? labelUnlimited Receipt Scanning. 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