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Latest PEX Features & Enhancements to Improve Cash Flow, Productivity, and Security

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You asked for it. You got it.

“What’s new?” Sometimes it’s small talk. And sometimes, like today, it’s news. Real news. An announcement that you’ve been waiting for. Here are new features that we created based on feedback from customers like you.

Create Sub-Accounts In Seconds; Use Them Immediately

Admins tell us that when they need a sub-account, they need it now. Not next week. Not tomorrow. Now. We made it easier to create sub-accounts in 4 simple clicks that are ready for immediate use.

Create a Sub-Account in Less than 10 Seconds 

  1. Go to the Business Settings Section of PEX dashboard and click the blue New Account button. 
  2. Choose the type of account: Credit Expense, Prepaid Expense, Grants, or Rewards and Incentive Program.
  3. Give the Sub-Account a name like ACME – New York or ACME – Boston
  4. Agree to the terms.

That’s all there is to it.

Start Using the Sub-Account Immediately

As soon as you create a new account, PEX gives you the account number, expiration date, and CVV — everything you need to use it. You can fund the account, create virtual cards, assign spend rules, authorize purchases, automate back office allocations and reconciliations, and more. Immediately.

Streamline Document Retention and Review with Expanded Attachment Storage

For many customers, uploading receipts through a mobile device is a game changer. It gives you easier access to receipts which improves compliance, and saves time. 

We’ve doubled down on this feature allowing Cardholders and Admins to upload Business Attachments like invoices, purchase orders, and invoices directly to your PEX account for secure, centralized storage. Accessing and uploading these documents is easy. Navigate to the Review section of the Administrator’s Website or Mobile app and click on the new Attachments tab.

Upcoming Feature Will Do More to Facilitate Easy, Rapid Review of Attachments

PEX is working on a feature that uses AI to automatically match a receipt to a transaction. Save time matching and streamline the reconciliation process.  To learn more and participate in the pilot, sign up here.

More Flexibly Managing Vendor Payments

There’s a reason virtual cards have become a premier choice for vendor payments. PEX Virtual Cards streamline finance operations, ensure on-time payments, and combat fraud. 

Unlike other virtual card solutions, PEX gives you the flexibility to pay vendors with prepaid or charge card platforms. You can provision a virtual card in less time than it takes to enable ACH payments for a vendor.

Now we’ve taken steps to make cards even more flexible

Introducing Vendor Card Sharing

Admins can now share Vendor Card details with another PEX cardholder in your organization. This means department heads, project owners, and key employees can make on-time vendor payments without exposing their main account numbers to potential fraud and misuse. 

You can create transaction limits and spending rules for these Vendor Cards, just like any PEX card.  Once a purchase is made, users can submit receipts and accounting codes with Vendor Card purchases, to automate allocations and reconciliations.

Just-in-Time Vendor Payments with Auto Card Funding

Now PEX Vendor Cards help you free up capital. When you choose Auto Card Funding during the card setup, PEX will automatically fund the card for exact purchase amounts with real-time transfers from your PEX account.

Of course, you can still protect yourself against overcharging and fraud. As with all PEX cards, you can apply time- and transaction-based spending rules and limits to auto-funded vendor cards.

There’s also a scheduling option for subscriptions and other recurring payments. This automatically funds vendor cards at the amount and frequency of your choice. Just set it and forget it. The bill will be paid on time.

Both of these auto-funding options help ensure on-time payments without tying up cash.

Take the Latest Advice from Security Checkup: Bookmark the PEX Dashboard.

To learn about the latest Internet threats and what you can do to keep your PEX (and other accounts) safe, visit PEX Security Checkup. Go to your PEX dashboard, find the security shield in the header, and click on it.

If you go there today, you’ll see our top tip: Bookmark the Dashboard.

That’s because criminals are hacking Google’s search algorithms to get their phony login pages to the top of the search results. From these phony login pages, they can steal credentials and drop malware into computers.

Don’t use Google to reach our login. Instead, bookmark your PEX Dashboard.

  1. Navigate to your dashboard by going to (or clicking on) https://dashboard.pexcard.com.
  2. Press Ctrl + D on your PC (Cmd + D if you use a Mac)

Be sure to click the shield at least once a week to see the latest and most important ways to protect your account.

Let Us Know What We Can Do for You.

If you’re a PEX customer and want to know more about these features and how they can help your business, talk to your customer success manager or drop us a line here. Let us know, too, if there are other features you’d like to see. We’re listening.

And if you’re not yet a PEX customer, click here for a free demo.

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Opinions, advice, services, or other information or content expressed or contributed here by customers, users, or others, are those of the respective author(s) or contributor(s) and do not necessarily state or reflect those of The Bancorp Bank, N.A. (“Bank”). Bank is not responsible for the accuracy of any content provided by author(s) or contributor(s).