Expensify, a payments app for individuals and businesses, launched a Free Plan for small businesses. The plan offers free, unlimited use of the following features:

Expensify Cards in both physical and digital versions for all employees, with customizable spend limits, automatic Karma Pointsdonations to charity, and more

• 2% cash back on all Expensify Card purchases through 2021, and 1% thereafter, when collective monthly card spend exceeds $25,000

• Next-day ACH (electronic transfer payments) reimbursements for cash expenses

• SmartScan for an unlimited number of receipts

• Invoicing with online bank transfer and credit card collections

• Bill processing and online payment (with a custom bill processing email address for vendors to send their PDFs to)

• Chat-based corporate travel booking via Concierge for flights, hotels and rental cars

David Barrett, CEO, said that millions of small to medium-size businesses with “antiquated back offices” find it daunting to make the jump to classic expense management tools with multilevel approval workflows, custom coding and other tasks. He said the Free Plan fills the gap and provides all the back-office functionality a small business needs at no cost. Barrett said there’s an “easy upgrade path for companies to unlock as they grow with us at their own pace.” This new offering, said Barrett, is just the start of Expensify’s transition from expense reporting software to “global financial superapp.”
In addition to the new Free Plan, Expensify also announced that members on paid plans can earn 4% cash back on all Expensify Card purchases through 2021, and 2% thereafter, when collective monthly card spend exceeds $250,000.