The cards will be launched in the UK and Europe with further expansion planned for Australia and North America after the initial launch phase. The initial phase of introducing 5,000 cards to 150 companies with between 100 and 2,000 employees will generate a new annualised income stream. The card-holder companies will earn revenue through a software-as-a-service (SaaS) model consisting of monthly charges to card users, administration licences and a percentage from each successful VAT/GST refund.
The end-to-end process captures the receipt through to payment that automatically analyses, reconciles, sorts and submits documentation to foreign tax authorities.Employees can then simply send their allocated amounts and the VAT/GST is automatically submitted with all relevant administration information completed.Put simply, it provides businesses with more control over user spending and improves compliance, visibility and transparency.Administrators can also control budgets, place spending caps and limit payments to approved vendors using Way2VAT’s transparent dashboard.
W2V Price at posting:
9.5¢ Sentiment: Hold Disclosure: Held
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