British fintech firm Soldo in collaboration with Wirecard Card Solutions (WDCS), a subsidiary of Wirecard, has launched a new Corporate Expense Prepaid MasterCard in the UK and Italy.

The new card, which comes with an employee app and an admin dashboard, is expected to help businesses manage their money better over fund distribution across the company.

Soldo’s Corporate Expense prepaid MasterCard is part of the company’s multi-user spending account for businesses, which was launched last year. It targets small to medium sized business (SME) to make cash and expenditure management seamless.

In addition, Soldo offers a security feature for all cards that allows users to enable or disable online transactions, cash withdrawals and oversea transactions.

Wirecard said that the WDCS-issued prepaid card will be linked to an account, which is operated under Soldo’s own e-money licence.  Initially, the programme is being launched in both GBP and EUR.

Soldo founder and CEO Carlo Gualandri said: “Soldo is simplifying spending with an intelligent account that will put an end to the painful process of cash advances, make bookkeeping effortless and automate receipt tracking.

“It’s the first Business Spending account of its kind in the UK and Italy, giving financial autonomy to employees and departments while allowing the account holder to retain control via a management dashboard that ensures peace of mind with enhanced security.”

Wirecard card Solutions managing director Tom Jennings said: “Soldo have streamlined the process of managing expenditure with this simple and straight forward solution for corporates. Wirecard are delighted to partner with Soldo to develop a solution that helps firms in Italy and the UK take better control of their spending.”