Travel platform HRS acquires spending company Paypense


Business travel platform HRS has acquired German spend management company Paypense, a move the company says will improve its range of corporate payment products.

“Just two years after its launch, Paypense’s open platform has already made inroads with a wide range of businesses, enabling employees to use digital payment technology to pay for all work-related purchases,” said said HRS in a press release on Thursday August 4. .

The release adds that the Paypense solution ensures budget compliance while capturing data for auditing, steering and sustainability metrics.

See also: Travel Platform HRS launches partnership with Citi

HRS CEO Tobias Ragge said the acquisition follows the company’s purchase of Itelya last year. He said that by buying Paysense, HRS could focus on improving employee satisfaction.

“Paypense provides intelligent expense management services to managers and employees, whether they’re on the road for weeks or supporting a one-day offsite event that doesn’t require travel,” Ragge said. .

Following the acquisition – which is expected to officially close this month – Paypense staff will become employees of HRS. Christopher Hecht, Founder and CEO of Paypense, will take on the role of Head of Product for HRS.

“It’s clear from our commitment to the industry that our approach is valued,” Hecht said. “We are working hand in hand with spend providers and financial institutions, not competing with them as we move from spend management to spend management.”

Read more: Decentralized workforces require specialized expense management solutions

As PYMNTS noted recently, expense management solutions have become increasingly important for companies hoping to control cash flow through increased decentralized workforces.

This was a trend initially sparked by the pandemic, with companies hiring workers in disparate locations and existing staff moving to new locations.

“Now organizations are trying to figure out, ‘How can I handle all of this?'” Embourse CEO Eric Friedrichsen said in an interview with PYMNTS.

Some of the hurdles businesses face include how to ensure they are compliant, managing expenses properly, and negotiating with suppliers. These companies must also provide a user-friendly experience for employees who spend money on behalf of their employer from their home office.

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About: Results from PYMNTS’ new study, “The Super App Shift: How Consumers Want To Save, Shop And Spend In The Connected Economy,” a collaboration with PayPal, analyzed responses from 9,904 consumers in Australia, Germany, UK and USA. and showed strong demand for one super multi-functional app rather than using dozens of individual apps.

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