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Eved LLC, a provider of payment management solutions for the entertainment and media industry, late Thursday launched a prepaid business-to-business card for production companies.
The Visa-branded card, called EvedPay, will enable entertainment, media and production companies to load predetermined dollar amounts onto the business-to-business prepaid cards to manage spending limits per employee. Spending limits can be based on a card holder’s anticipated purchasing needs during a production. For example, if the wardrobe manager sets a budget of $25,000 for the production, that amount can be loaded onto the card, the company says. Additional funds can be downloaded to the card as needed upon approval.
The card, which is available as a virtual card or a physical card, can also be loaded into a user’s Google Pay or Apple Pay wallet. Eved opted to offer a virtual version of the card to enable immediate issuance, the Chicago-based company says.
The EvedPay card also comes with an accompanying app that allows cardholders to upload receipts and information about business expenses. The app integrates with the Eved web platform, enabling company accountants to see all spending activity, including expenses, invoices and payments, in real time and in a single place.
Expenses can also be downloaded into any accounting software app. In addition, the EvedPay card and app integrate with SAP accounting software and cloud solutions.
