Fintech: Southeast News

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Posted September 21, 2021

 

Global fintech firm Centtrip, which specializes in expense management and card payment technology, is expanding into the United States, with a particular focus on the music and entertainment industry.

As part of the expansion, Centtrip has opened an office in Miami Beach, Florida, and plans to expand its US based team in the coming months.

The firm, headquartered in London, has over 20,000 clients and users around the world, including music’s top touring acts, best-selling artists, Grammy Awards winners, and world-renowned arts companies.

Founded in 2015, by experts in payments, foreign exchange and technology, Centtrip now processes over $1.3 billion in transactions each year and is experiencing rapid growth across all core markets as they emerge from the pandemic.

Centtrip has supported global tours of artists including The Who and Arctic Monkeys, as well as indie labels [PIAS] and Cooking Vinyl, and world-renowned arts companies like The Royal Opera House.

According to Centtrip, its platform aims to give businesses real-time visibility and control over their expenses and card payments.

Centtrip also says that it’s designed specifically for the needs of “highly mobile organizations”, including those in the music and entertainment industry.

The firm lets business managers and accounting firms to support multiple, independent artist accounts from a single app.

The Centtrip Mastercard, which the company says “offers high balance and transaction limits” is accepted across the United States and worldwide.

Organizations can have as many cards as required, a feature that’s not offered by traditional payment providers.

{mprestriction ids="1,4,9"}Centtrip says that several hundred cards for a single tour is not uncommon and that touring companies often issue separate cards for per diems and for touring expenses.

Cardholders and authorized administrators can control the card directly from the Centtrip app, setting spend limits, freezing or unfreezing cards, and enjoying full, real-time visibility of transactions.

Clients also have the choice to either preload individual cards with funds (for example a cardholder’s available budget) or to have all cards on an account draw from the same, central account balance (in the same way that bank debit cards operate).

Jane Turner, Chief Executive Officer, said: “Managing expenses can be an expensive headache for touring artists and others working in the music industry.

“Time differences and the demands of a touring schedule mean that artists seldom have time for any last-minute or ad hoc paperwork.

“By expanding into the US, we are giving highly mobile organizations in the industry more control, flexibility and visibility over their money.”

e point-of-sale payment solutions for our merchant partners and their customers on an accelerated basis,” Zalik said in the release.

 

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