DiviPay and Archa: How Do They Compare?
DiviPay and Archa are both innovative fintech platforms that simplify expense management for businesses with company cards. While they are similar in some ways, there are some important differences to consider when choosing the best solution for your needs. Here’s a short guide to the features and benefits offered by these financial products.
What is DiviPay?
DiviPay is a company expense management platform that offers virtual company cards, tools for budgeting, accounting software integration, and the ability to track spending in real-time using the DiviPay app.
The virtual card works like a business debit card, but it’s kept on a mobile wallet with Apple Pay or Google Pay. With a virtual card, business owners and managers can issue a unique virtual card to each staff member who needs to make purchases for the business. By using a virtual card, employees don’t need to spend their own money and submit expense claim forms to get reimbursed. So expense reporting with DiviPay is easier than using a traditional bank credit card or charge card.
DiviPay automatically tracks the business expenses made using the virtual cards, so it reduces the time required for administration and accounting functions. Card controls are also a DiviPay feature that makes it possible to set limits on transactions and limit spending to approved merchants.
In a nutshell, DiviPay enables you to:
- Quickly add virtual cards for new employees
- Set card spending limits
- View transactions in real time
- Create customised expense reports
- Record receipts using a smartphone camera
- Create budgets
- Integrate with accounting programs, such as Xero and MYOB.
The cost of DiviPay is a monthly fee. For example, they have a growth plan for $17 per user per month with a maximum of 150 business payments per month.
What is Archa?
Archa is a business credit card and spend management platform that offers a range of tools to manage spending and automate your expense reporting. By making it easy to issue separate company credit cards to employees, they no longer need to spend their own money, complete reimbursement forms and processes and wait to be repaid.
Archa integrates with Xero for seamless expense management. Upload receipts into Xero in seconds. After taking photos of your receipts and uploading them using the smartphone app, they are automatically matched against your Archa transaction bank feed. This saves time and eliminates manual handling and the potential errors it entails. You can also view transactions in real-time, set and change spending limits for each card, and receive push notifications when a purchase is made using your card.
Archa users get a physical credit card which can be added to a mobile wallet on Apple Pay or Google Pay, so it can be used as a virtual credit card for convenient Tap and Pay transactions.
In brief, Archa makes it possible to:
- Instantly issue new cards for employees
- Set spending limits on each card
- View transactions in real time
- Automate expense management
- Capture receipts and submit them into Xero from the Archa mobile app
- Integrate with accounting programs (Xero bank feed and CSV data for other programs)
- Get more control over your cash flow with 30 days to pay.
The cost of using Archa is a monthly fee. For example, the Team plan is $19 per user per month and does not limit the number of transactions that can be made.
The biggest difference between DiviPay and Archa is that Archa offers credit cards as opposed to debit cards. The credit limit depends on the plan and goes up to $50,000 (subject to approval). Unlike a debit card or prepaid card, the line of credit helps you optimise your cash flow and consolidate monthly spending into one payment. Also, with prepaid cards, there can be a lag of several days between the time that funds are added and available. This is not an issue with Archa, as there is no prepaid option.
Choosing the best solution for your needs
Both Archa and DiviPay make it possible to eliminate reimbursements and card sharing and save hours of expense reporting each week. The best expense management card solution will depend on your business objectives and financial situation. Consider the features of each solution as well as the terms and conditions before making a decision.
Find out more about Archa business credit cards as a DiviPay alternative and the features they provide to help you manage your business expenses.