Cashplus launches UK-first Google Maps-powered purchase enrichment for business credit cards

  • ‘Spending Insights’ feature automatically categorises payments, showing where and when they are made and allows purchases to be tagged to specific jobs or customers
  • Feature can help users easily spot fraud, with Cashplus platform offering instant account freezing
  • New feature adds to previous innovations including smart Open Banking APIs

London, 20th February 2020: Cashplus, the leading UK challenger to banks, has launched a UK-first payment tracking for its SME credit card products.

The new Spending Insights feature uses Google Maps data to pinpoint where and when a payment was made and makes each transaction easy to identify by showing information like brand logos, where other accounts might show only an obscure trading name.

Other benefits of the upgrade include Spending Insights’ fraud-beating capabilities. It allows customers to easily spot unusual payments and immediately freeze their account. The tool also automatically sorts payments into categories, so users can track and plan their business spending and can even tag payments to a specific job or client. 

For example, an independent tradesperson can tag all materials costs to a specific project or a freelancer can easily tag relevant travel expenses to the correct client.

This upgrade adds to existing SME-focused functionality available to Cashplus customers, including Open Banking ‘API’ technology, which plugs Cashplus accounts directly into a range of accountancy platforms, payroll tools and general payment systems, meaning thousands of automated tasks can be carried out simultaneously. The company’s Payments API has attracted a number of external accolades including a nomination as ‘Best Achievement in Payment Processing’ at the upcoming Card and Payments Awards

Cashplus CEO, Rich Wagner said: “Together with features like smart business credit, account freeze and instant account approval, these upgrades make Cashplus an indispensable tool for small businesses. The many thousands of UK entrepreneurs, start-ups and independents using Cashplus will be freed up from tedious admin, leaving them more time to get on with the things they do best.”

Cashplus is in the advanced stages of applying for its full UK banking licence, expected to be authorised in the first half of 2020 and has committed to boost lending to overlooked UK small businesses.




Notes to editors

About Cashplus

Cashplus is a leading specialist UK digital challenger to banks for small businesses and consumers. We offer faster, smarter, simpler banking services for the entrepreneurs, independent businesses and individuals that power the UK economy, yet are too often overlooked by high street banks.

Since 2005, we’ve created easier ways for more than 1.6m customers to pay, store and borrow money through our user-friendly digital platform.

We understand what our customers need – time and money to run their businesses and live their lives – and our secure, innovative products are designed to help, where others can’t or won’t.

A true fintech pioneer, we are a fast-growing and credible challenger to UK high street banks.

Media contact

Alex Moorhouse

Corporate Affairs Director
[email protected]

+44 (0)7834 780299

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Advanced Payment Solutions Limited (APS), trading as Cashplus Bank, is registered in England and Wales at Cottons Centre, Cottons Lane, London SE1 2QG (No.04947027). APS is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Firm Reference Number 671140.

APS provides credit facilities subject to approval and affordability, and where accounts continue to meet APS credit criteria.

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