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In recent years, a number of startups have made a business out of providing corporate credit cards to companies. These players compete not only with each other but with legacy providers such as Concur and Expensify by offering automated expense management.
Many of these startups generate revenue from interchange fees, meaning that they receive a certain percentage of each transaction made on the corporate card they have provided. Ramp, for example, is one such company. Some of those startups also make money by charging subscriptions for their expense management software. Brex, which started out as primarily a corporate card provider, made a big push last year into software.
Navan (formerly known as TripActions) offers b...
