Due to this agreement, the SpenditCard, a digital voucher for tax-free benefits in kind, offered by Spendit since 2014 as Mastercard’s preferred partner, will be issued by Wirecard. It is the first regulated credit card program based in Germany and already has over 4,000 corporate customers.
The SpenditCard can be used worldwide. Businesses can use the card to give their employees a wide range of tax-free fringe benefits as a modern alternative to petrol and gift vouchers on a prepaid card, which can be used by employees without restriction in the Mastercard network across the world. The card, which can be branded in line with a company’s corporate design including the logo, enables employers to optimise wage costs and reduce administration overhead.
Moreover, the modular system of the card enables businesses to design individual, industry-specific benefit programs. Each employee is entitled to a total of EUR 708 tax-free (net) and up to EUR 11,000 that is subject to a flat rate of taxation.
For more information about Wirecard, please check out a detailed profile of this company in our dedicated, industry-specific online company database.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now