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Startup neobank Mercury is taking on Brex and Ramp with new bill pay, spend management software
Digital bank Mercury becomes a SaaS player as it rolls out new bill pay, invoicing and employee reimbursement software.
The additional features puts the company in even more direct competition with the likes of Brex and Ramp, two rival fintechs that have for years been fighting for market share in an increasingly crowded space. The new software “includes the ability to establish finer approval controls and accounting integrations so all invoice activity is automatically recorded properly,” the company told TechCrunch. The moves all come at an interesting time for Mercury, which made headlines earlier this year for being the target of federal scrutiny around its practice of allowing foreign companies to open accounts through one of its partners, Choice Bank, according to a report by The Information.
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