Business Wire
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Led by a former Marqeta executive, Astrada provides a unified API for real-time transaction data
Astrada emerged from stealth to unveil a unified API for transaction data that offers the infrastructure, compliance, and workflows that software companies need to offer bring-your-own-card functionality. By leveraging its API, software companies can help businesses easily enroll existing Visa or Mastercard cards and provide real-time visibility in spend. Led by Salman Syed, a payments veteran with experience at Mastercard and Marqeta, Astrada will close the gap between what businesses need and what software platforms can provide.
“Spend management is entering into yet another meaningful evolution. Finance leaders are looking for greater visibility into company spending and employees want a simplified expense reporting process. The era of a more flexible ‘bring your own card’ for spend management companies, along with real time transaction data feeds, will remove more friction from expense processes and set a new standard for our industry,” said Salman Syed, CEO at Astrada.
Astrada solves the problem spend management providers struggle with: allowing their business customers to easily link existing Visa or Mastercard cards to their platform to see real-time transactions. Many businesses have faced long-standing challenges with their spend management software including complex integrations, data accuracy, and security challenges resulting in limited options when combining their existing card program with their preferred spend management platform.
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Astrada unlocks the ability to bring your own card to any spend management platform and helps eliminate many of the operational challenges of running your own card program. Astrada’s platform provides real-time visibility into enrolled card transactions and delivers an experience comparable to a spend management company’s self-issued card. Before providing any card transactions to spend management companies, consumers are required to provide their permission through a secure and transparent process, ensuring the highest standards of data privacy and security.
“Astrada’s platform has transformed the way we manage spend,” said Eran Artzi, CEO at Clyr. “With seamless integration of our customers’ existing enrolled Mastercard and Visa cards, our customers can track and reconcile in real-time. It has saved our users countless hours and improved accuracy across the board.”
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