Blockskye has launched a new expense tracking and reporting tool that can capture and report business travel expenses from employees' personal credit cards, the company announced.
With the Blockskye Capture tool, travellers can register their personal cards with Blockskye, and it can monitor spending activity and use AI to identify which spending is for business expenses. It integrates with companies' ERP systems for budget validation as well as corporate travel plans to gain context around spending.
Approved expenses can be reimbursed "often within days" or even immediately with an option using stablecoin, a cryptocurrency pegged to the US dollar or other fiat currencies or commodities, according to Blockskye.
Blockskye chief commercial officer Hank Benedetti said the company is "in discussion with a handful of partners" to be participating card providers in the programme, with plans to announce agreements "soon." The company is targeting hotel and airline loyalty cards "because those are the most popular cards used by business travellers," he said.
With the capability to use loyalty cards, travellers will be able to earn personal points and status from their business travel spending, while participating suppliers will be able to gain additional revenue from their loyalty card programmes, an ever-increasing source of revenue for travel suppliers.
"At most companies, travellers are forced to choose between following policy and earning the rewards they value," Blockskye co-CEO Brook Armstrong said in a statement. "Capture removes that tradeoff by aligning incentives through automation rather than enforcement."
The launch of Capture follows Blockskye's launch last year of its B360 payment platform, which enabled travellers to pay for air, hotel and ground costs with partner loyalty credit cards with companies receiving reporting and controls on those payments. United Airlines was announced as the launch supplier for that platform.