Month: December 2023

Introducing the Float Mobile App

Posted on by Shanelle Holder

The much-anticipated Float mobile app is here! 

Float cardholders can now easily manage their individual spending on-the-go, from card requests to receipt capture to reimbursements. Managers and Administrators can also manage company and team spend from anywhere, with timely push notifications on business spend and simple approvals in-app.

Let’s dive into what makes Float’s new app so game changing for business spending in Canada. (Already a Float customer? Be sure to download the app here).

Seamless Requests and Approvals

Spenders can now request new spend for business payments in just a few taps right from their phone – especially useful for those impromptu purchases that pop up when you’re on-the-go and away from a desktop. You’ll be able to:

  • Request a net new Float corporate card (this is a great option to segment spend for a new vendor or a one-time purchase
  • Request a card limit increase for a purchase on an existing Float card (either recurring or temporary)
  • Submit expenses for reimbursements as soon as you spend for speedier repayments 

When Spenders submit new requests on the app they’ll be prompted to select a Submission Policy as usual, so they’re spending within the guardrails of your company’s unique expense policies.

💡Pro-tip: Be sure to turn push notifications on to stay in the know! Managers get notified right away via push notification to quickly approve new requests. Once approved, the Spender is also notified immediately via push and brought back to the app to access their new card details.

Simplified Business Spending

We wanted to give Spenders easy visibility into their individual spending, while enjoying a frictionless experience making business purchases. On the new mobile app you can see all of your spend in one simple view and access card details simply to make business payments wherever you are.

  • No more wondering what you have left to spend across your Float cards. Quickly view your physical and virtual card limits (for CAD and USD spend)
  • Access your card details securely from your phone to pay vendors online
  • Add your card details to your phone’s mobile wallet to conveniently tap to pay

We’ll send Spenders push notifications whenever a transaction goes through on one of their Float cards, so they are always aware of their spend (and can upload receipts and expense details as soon as a purchase is made).

Hassle-free Compliance

Your company’s expense policies don’t need to be a mystery to Spenders. With policies implemented directly on Float Cards, they can easily make purchases for the business within your guidelines. 

With card controls like custom limits and merchant controls, Float automates the expense process, meaning no more receipt chasing at month-end. Spenders can tap into their Float Card details within the app, and view the Submission Policies and Approved Categories applied to their card spending by the Finance team to make informed spending decisions on behalf of the company. 

  • Spenders get prompted to add receipts, tags, and codes from their phone as soon as they spend to stay compliant
  • Spenders can snap a photo of a receipt with their phone’s camera or upload a photo from their camera roll (before those receipts go missing)
  • Spenders can easily view all non-compliant transactions that they need to take action on

Spenders get reminded via push to upload receipts along with any other information your company’s Submission Policy requires (like vendor, GL codes, or purchase descriptions) to make closing the books easier for the Finance Team.

Smart spend management that fits in your pocket

If you haven’t rolled out the new mobile app to your team yet, don’t wait. The app is available to download for free on the App Store and on Google Play. We’ve created this one-pager for your Spenders to help get them set up on the app. Not yet a Float customer? Book a demo or sign up today to start simplifying spending for your team.

The Month-End: November

Posted on by Shanelle Holder

Year-end is fast approaching and here at Float we’re continuing to roll out features to help you manage company spend efficiently. From new security measures to ensuring your heard-earned money works even harder for you, November saw exciting additions to spend management with Float. Read on to learn what’s new in the platform.

Float’s New Notifications Centre 🔔

With so much on-the-go for the Finance Team, staying in the loop is a necessity for managing company spend. We’ve been listening to your feedback and we’re thrilled to introduce enhancements that puts the reins of your company’s spend management notifications firmly in your hands. You’ll now have greater autonomy and choice over which notifications you receive (and who at the company receives them). Whether it’s account updates, approval requests, or daily receipt reminders, you can now cherry-pick the notifications that truly matter to your business. We’ve also introduced some new notifications to help you better stay on top of your Spending Power in Float:

  • Choose to keep all Admins in the loop, so your team doesn’t lose visibility if a Primary Admin is out of office
  • Get notified about Spenders’ card declines, so you can ensure critical business payments go through on time
  • Set custom thresholds and be alerted when Spending Power falls too low, so you always have enough cash on hand to pay vendors

Check out your updated Notifications Centre today and easily manage your notifications, so they best match your company’s workflows.

View your Notifications Centre

Now Earning 4%

As of December 1st, we’re making your dollars work even harder for you. Float customers are now earning 4% interest on their CAD and USD cash balances. The best part? There’s no need to lift a finger – your existing Float Accounts for your pre-funded cards automatically kick into earnings mode. Similar to cashback* your well-deserved rewards will be paid out like clockwork on the first of each month. Keep an eye on your inbox for a special rewards email on January 1st and in the meantime feel free to log in to your Banking Hub anytime to see your company’s earnings to-date.

Calculate your Earnings
Animation of 4%

Putting Security First: Float is Now PCI-DSS Certified

At Float we believe that your financial security comes first. Following our recent SOC 2 Certification, we’re proud to announce another significant milestone – Float is now officially PCI-DSS Certified. What does that mean for you? In simple terms, it signifies that Float adheres to the highest standards of security in the storage, processing, and transmission of cardholder data. We stand tall as one of the few Canadian financial technology companies with both SOC 2 and PCI-DSS certificates, highlighting our commitment to your security every step of the way. We hope you choose Float not just for a faster month-end, but for the peace of mind that your financial data is in safe hands.

Read More

A Faster November Month-End

The updates to your financial management journey don’t stop at new notifications and earnings. We’ve also continued to simplify your accounting processes for a faster month-end. We hope with these latest enhancements, closing November’s books have never been smoother:

  • Spenders can now add receipts to transactions at any time
  • Additional Docs are easily viewable and updatable
  • Re-exporting transactions to QBO or Xero at month-end? No more duplicates – the original transaction gets updated seamlessly 

Spend less time on administrative tasks and more on what truly matters. A final reminder that your old Ready to Export page is going away December 15th. If you haven’t used the new Transactions Export page in your Accounting Hub yet, this is your sign to try it out!

View the New Transactions Export Page

Until Next Time 👋

As we approach year-end, precision, control and efficiency become bigger themes for Finance teams. At Float, we’re excited to continue to unveil new updates that are redefining spend management. Whether it’s with our new accounting automations or flexible spend notifications, we want to alleviate the stresses your team encounters in their day-to-day. If you’re not a Float customer (yet) signing up is simple. Get started for free or book a demo to connect with our sales team. Happy managing, finance professionals!

PCI-DSS: From Compliance to Certification

Posted on by Amy Fisher

At Float, we’re committed to protecting the personal and financial data of our customers. Following our recent SOC 2 Type 2 Certification, we are proud to announce that Float is officially PCI-DSS (Payment Card Industry Data Security Standards) certified.

Being PCI-DSS certified means that Float abides by the highest standard of security in the storage, processing, and transmission of cardholder data. While we’ve always been PCI-DSS compliant, our new PCI-DSS certification gives customers an extra layer of validation for the fact that Float protects sensitive data at every level — from employee onboarding to payment processing. 

We worked with a Qualified Security Assessor (QSA), an approved external auditor, to confirm that we comply with the requirements under PCI-DSS and receive our PCI-DSS SAQ D Report & Attestation of Compliance (AOC). 

Float is one of the few Canadian financial technology companies with both certifications, demonstrating our team’s commitment to security at every step of the way (and just another reason to choose Float).

What is PCI-DSS?

For as long as there have been virtual payment systems, there’s been the risk of fraud and data breaches. PCI-DSS was established in 2006 to serve as an international baseline of data security for companies that accept or process payment cards. 

PCI-DSS is the highest level of security standard available to providers like Float. As one of the first Canadian financial technology companies to become PCI DSS certified, Float is leading the charge toward global-standard data security in the corporate cards and spend management space. 

Why PCI-DSS certification matters

Enhanced data security: Our PCI-DSS certification signifies that we have implemented robust security measures to protect payment card information and sensitive authentication data.

Increased trust: Our customers can have more confidence in the security of their transactions, knowing that their financial and personal information is handled with utmost care, per industry best practices.

Industry recognition: Achieving PCI-DSS certification places Float among a select group of organizations around the globe that are recognized for their commitment to data security and compliance.

Leading the way for holistic security

Float is now one of the few financial technology organizations in Canada with both SOC 2 and PCI-DSS certifications, demonstrating our commitment to providing a secure and reliable platform for the businesses we serve. But Float’s commitment to security goes beyond certifications and compliance—we’re working to ensure holistic security when it comes to company spending. 

Over the past few months, Float has released new features to ensure Canadian finance teams have ultimate visibility and proactive control over how, when, and why money is spent across the company:

  • MFA and SAML SSO
    • Float offers both Multi-Factor Authentication and SAML Single Sign-on for customers to ensure only authorized users have access to Float accounts
  • Float Cards 2.0
    • Issue cards to employees worry-free with new $0 card balances and the ability to create or approve Recurring and Temporary limits
  • Merchant Controls
    • Proactively manage spending by limiting card transactions to specific merchant categories
  • Reporting
    • Get real-time visibility into company spending with Float’s Reporting feature that allows teams to spot anomalies before it’s too late

Security is an ongoing focus at Float. Stay tuned to see how we’re ensuring that businesses across Canada can confidently rely on Float for their corporate card spend.

Not yet a Float customer? Book a demo with our team here and we can show you how Float can help you control your company’s spending more simply and securely.