The payment line of defence
There’s no better way to reduce fraud costs than to prevent fraudulent charges from occurring in the first place, and payment technology can provide controls to keep purchases in policy and reject illicit purchases outright. The traditional payment and expense management approach, which is still in place for “90 per cent of the market,” is not set up for that, says Center cofounder and SVP of product Nik Singh.
“You have an expense management system that is being populated by and interacting with personal cards that people are manually entering in data or people taking a snap of a receipt that may or may not be legible or disparate corporate cards that don’t…
