Real Estate Development: Securing Spend With Existing Credit | Extend
Real estate development: Securing spend with existing credit
Summary
Securing and organizing payment processes for a real estate development company specializing in both single-family residential and commercial properties.
Challenge
With back-office operations moved abroad, the real estate development company needed a way for offshore employees to “safely make payments without putting financial information at risk,” said the Managing Partner.
Solution
The perfect solution was found in Extend, which works with the company’s existing credit cards. Employees abroad now use virtual cards to pay for everything from construction supplies to shipping fees, all while protecting the parent card details. And when the Managing Partner is on the go, he uses Extend’s mobile app to “approve card requests in three seconds. I love that about Extend.”
Outcome
- Leverage existing credit. Getting started is as easy as registering the existing company credit card with Extend—no new bank partner or contracts required.
- Secure online payments. Distributing virtual cards to employees and creating unique ones for unknown vendors facilitates seamless payment without exposing the primary account number.
- Clear spend visibility. Cards can be organized by property or group project, allowing for easy spend tracking and simple reconciliation.
- Speed and efficiency. With an intuitive mobile app, employees can quickly request, create and send virtual cards from wherever, whenever.
"Extend gave us the ability to transact safely—and that’s what we needed most."
Case Study
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Talk to the experts
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