Perk Brings Travel Spending Offering to US Businesses

Perk, a travel and spend management platform, has recently launched its Perk Spend product in the United States. This move aims to capitalize on a market where U.S. companies are spending over $1 billion annually on travel and team events. Avi Meir, Perk's co-founder and CEO, stated that while travel spending is increasing, existing tools are not keeping up with the needs of American companies.

Perk Spend offers AI-native features for travel and spend management, including a bring-your-own-card (BYOC) option, which allows customers to use existing corporate card programs while staying connected to the Perk Spend system. The platform is fully integrated with Perk Travel, enabling seamless reconciliation of all transactions within one system.

Nikita Miller, Perk's president of product and technology, emphasized that finance leaders desire both control and flexibility in managing travel expenses, and Perk Spend provides real-time visibility into every dollar spent while allowing employees to maintain their preferred payment methods. PYMNTS previously reported that while business travel is recovering, the importance of face-to-face interactions in a digital world remains significant.

The report highlighted that organizations are now traveling with a greater sense of purpose, focusing on activities that generate measurable business value. This shift in travel patterns is primarily driven by the need to strengthen supplier relationships, acquire new customers, expand into new markets, and form strategic partnerships.

PYMNTS Intelligence/ Mastercard research revealed that 57% of U.S. small to medium-sized businesses (SMBs) source goods or production inputs from overseas suppliers, making cross-border payments an increasingly common aspect of daily operations.