PEX Credit Expense

PEX Credit Expense is a complimentary program that offers a non-revolving line of credit for small to medium businesses featuring weekly or monthly auto repayment. Payment is due in full at the end of the statement period.

Repayment is due in full at the end of the weekly or monthly statement period. PEX will automatically initiate a Same Day ACH transfer for the sum of the business’s settled transactions from the designated linked external bank account.

Customers can manually initiate early repayment on the dashboard site. If a payment is initiated prior to 12:15pm ET on a business day, funds will be settled at 1pm ET that same day. If that deadline is missed or the payment is initiated on a holiday, it will be settled at 1pm ET on the next available business day. Once the repayment transaction has settled, the amount repaid will be added to the available credit.

PEX’s current Expense and Disburse offerings are both prepaid accounts. A customer has to pre-fund their account and then load funds onto the cards. The credit offering allows a customer to spend on the card, and then pay back the accrued balance at the end of the weekly or monthly statement period.

Wide merchant acceptance as cards can be used for:

• Online ad services (Facebook, Google, etc.)
• Car Rentals
• Anywhere Visa® Commercial Cards are accepted

Improved cash flow:

• Credit offers more spending flexibility –  no cash on hand or prepaid funds are required
• Weekly or monthly billing cycle with autopay

• Disburse is designed to allow organizations to give funds to individuals outside the organization – grant recipients, channel partners, independent reps, etc.
• Disburse must be pre-paid; there is no option to give cards to individuals outside the organization but then pay for the purchases on credit