Ulster Bank has launched a mobile app that will allow Irish businesses to make sure staff with company credit cards don't lose the run of themselves.
The free app, ClearSpend – developed by Ulster Bank's parent, Royal Bank of Scotland, in partnership with Silicon Valley start-up SpendLab – allows firms set credit card budgets at company, business and cardholder level, controlling where, when and how commercial cards can be used.
The first such offering by an Irish bank links directly with the bank’s card processor, enabling users to see transactions as they happen, including real-time balance and credit limit information.
"Budget control is the cornerstone of any successful business," said Eddie Cullen, managing director of Ulster Bank's commercial banking division. "In downloading this free app our business customers . . . will also be able to proactively control when and where cards are used, boosting the efficiency of spending and the subsequent administration of budgets."
ClearSpend will be available for Ulster Bank Commercial Card customers for free on iOS, Android phones and through a web browser.
