Funding Options, a UK-based business finance marketplace, has joined forces with Caxton FX to launch a prepaid business currency card for small businesses.
The new card is designed to enable businesses keep track of their finances while being abroad.
With the card, businesses can monitor employee transactions in real time.
This can be done, without any overseas point of sale fees, the marketplace lending firm said.
Businesses using the card are also said to receive competitive rates on pre-loaded currencies.
Funding Options Conrad Ford CEO and founder said: “A pre-loaded currency card is the simplest way for small business owners to manage their business travel expenses and especially for those who regularly operate internationally.
“We are excited that, through our partnership with Caxton FX, we are now able to offer businesses our unique Currency Card with preferential currency rates and additional financial management features.”
Ford calls the tie-up with Caxton FX an “important milestone” for the firm.
Caxton FX director of treasury solutions and partnerships Andy Demetriades said: “Regularly, small business owners are hit with additional unwanted charges incurred as a result of overseas transactions while expense reconciliation post-travel can be problematic.
“Our Corporate Currency Card offers a great solution and is hugely popular with business travellers from many different industries.