Mercury has launched Mercury Spend, a budgeting and expense management platform for companies, alongside a limited-edition IO card.
The US-based financial technology company has introduced the product as a system of budgets and expense policies for companies managing growing teams and increasing spending volumes. Mercury Spend is now available to all Mercury banking customers and is also offered as a standalone product to companies that hold accounts with other banks.
Budgets and automated routing
Mercury Spend allows companies to issue stipends to employees for defined purposes, including travel, software, home office equipment, and supplies. Transactions and expense reimbursements are routed automatically to the relevant budget based on the nature of each purchase. The platform also supports the issuance of dedicated cards for AI agents, enabling companies to authorise agent transactions and monitor related activity.
The platform automates several manual expense management tasks. Transactions are categorised automatically to the corresponding budget, and receipt collection is simplified through automatic Gmail scanning and text-based reminders for submissions made outside the office. Mercury Spend also includes policy settings that lock cards automatically when tasks, such as receipt submission, remain overdue.
Accounting and cashflow integration
For accounting and finance teams, Mercury Spend automates the categorisation of transactions at the point of purchase, reducing the manual reconciliation typically required during month-end close. Administrators can configure additional rules to determine how transactions are recorded within their accounting systems. Mercury already provides business banking, cash management, and runway tracking tools, and the addition of Mercury Spend extends these services into budgeting and expense management, connecting spend data with the company's existing financial overview from the outset. Companies can track spend by card, team, vendor, or time period from a single dashboard.
Alongside the launch, Mercury introduced a limited-edition version of its IO card, designed in collaboration with multidisciplinary artist Simone Bodmer-Turner. The design draws on a tool used by Bodmer-Turner in her sculptural work.
Availability
Mercury Spend is accessible through the Team spend tab within the Mercury dashboard, where companies can set up budgets and issue them to existing team members. Mercury has published guidance materials, including a support centre article and instructional videos, to assist companies with the setup process. Support is also available through Mercury's in-app assistant, Mercury Command, directly within user accounts.
