Payhawk provides a comprehensive spend management solution enabling finance teams to control and automate company spending at scale, and allowing companies to save time and money, and focus on their globally strategic priorities.

However, Payhawk is not a bank. On 11 July 2023, the company was granted a license for an Electronic Money Institution (EMI) by the Bank of Lithuania. The EMI license permits Payhawk to provide payment services, including the provision of credit. Payhawk is a principal member of Visa and also a registered agent of e-money institutions that have a license to operate in the EU/EEA and the UK. For more information, see the FAQ on Payhawk and its spend management solution.

Payhawk delivers its full-blown spend management solution by providing:

Payhawk delivers VISA Commercial and VISA Platinum debit and credit corporate cards which can be virtual or physical. The Payhawk credit cards are currently available for UK and US entities.

US-based businesses can connect the Payhawk and American Express systems and link their physical American Express Cards, issue virtual American Express Cards through Payhawk, and manage them from their Payhawk accounts.

Employees can view their card details, request more funds, ask for ATM withdrawal approvals, and more, from the Payhawk mobile app. Accountants can monitor, review, and report on card spend transactions and other card operations from the Payhawk web platform. Administrators can track business spend as it happens with its real time automatic sync functionality and automatically manage Payhawk debit and credit cards in bulk by setting and applying rules and policies to whole departments with a click.

With the Payhawk corporate card and spend policy solution, you can define monthly recurring limits and ATM withdrawals live; configure approval flows that correspond to the specific company structure; apply card limits to team cards that will be shared between a group of employees; customize employees' spend limits, set spend rules and policies, and automatically reconcile card payments; freeze or issue cards within seconds; track carbon emissions and accelerate your ESG reporting, and more.

Payhawk cards enable you to avoid currency fees by allowing you to spend with 0% FX fees in six currencies, and benefit from a market-leading 1.99% exchange markup on all other currencies.

Payhawk provides powerful expense management controls that allow you to monitor and manage every business spend and transaction as they happen, such as trips, mileage, and per diems.

With the Payhawk spend controls, you can set up cost centers, categories, and VAT and use expense management software to take care of your debit and credit cards in bulk; specify your budget management per cost center and track payments and expenses against it in real-time; assign owners to your budgets and provide them with real-time visibility over their project budget; make regular company payments with your debit or credit card; track all subscription spending and provide insights into upcoming company payments; use custom expense approval filters and easily monitor approval delays to help improve month-end planning, and more.

Payhawk also supports domestic bank transfers.

Payhawk provides powerful accounts payable solutions and enables Finance and Accounting teams to save time and effort through automation, including invoice management software, OCR data extraction, and machine learning.

With the Payhawk accounts payable controls, you can automatically extract and reconcile data from invoices in more than 60 languages including the extraction of supplier names, dates, due dates, countries, VAT numbers, and amounts across all your entities and currencies; review and pay invoices directly from Payhawk and streamline your invoice payments with dedicated IBANs allowing SEPA Instant, Faster Payments, ACH, and Bisera transfers that are fully integrated with your supplier management process; close and archive specific periods as you need, and more.

Payhawk combines accounts payable, corporate cards, and expenses into a single spend solution with customizable approval flows, easy bank payments, support for multiple currencies, and the capability to make payments globally in a single tool.

Payhawk comes with robust multi-entity management features that improve cash flow control and support your month-end close across all of your group’s entities.

With the multi-entity management settings, you can improve spend visibility and control cash flows across entities and currencies; standardize expense settings globally and simplify workflow management; onboard teams across entities quickly and securely, and manage your team globally with all of your Payhawk users’ relevant information in one screen.

Out of the box, Payhawk delivers strong, effective, and seamless integrations with some of the most popular and efficient ERP systems, accounting software, and other top business enterprise tools such as Oracle NetSuite, MS Dynamics Business Central, MS Dynamics Finance, Xero, DATEV, QuickBooks Online, TravelPerk, and 60dias.

Finance and Accounting teams can avoid the need for manual uploads, see real time costs at a glance, and automatically reconcile card and bank payments. The supported Payhawk integrations are based on some basic conventions such as each expense being exported as soon as it is marked as reviewed, once settled, Payhawk exports all payments in real time, customers can fix mistakes with the expense recall function, and more.