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Centtrip expands into the United States to change the way yachting sector manages expenses and charter APAs

Centtrip, the global fintech providing expense management and card payment technology, has launched its platform, app, and card in the United States.

Yachting a major driver of this expansion, with existing Centtrip clients including members of the Leading Yacht Brokers Association (LYBRA) such as Burgess, Northrop & Johnson and Fraser.
Designed for the demands of highly mobile organizations, the Centtrip card offers some of the highest spend limits on the market.

Centtrip, the global fintech providing expense management and card payment technology, has announced its launch in the United States, with a particular focus on the marine and yachting industry.

The Centtrip platform gives businesses in the sector real-time visibility and control over operational expenses, charter client APAs and card payments, helping them empower their people, streamline expense payment processes, reduce the cost and risk of carrying cash, and make the accounting process significantly easier.

Centtrip is designed specifically for the needs of highly mobile organizations, including those operating in the marine and yachting industry. Centtrip’s technology has the potential to accelerate cash-free cruising, allowing crews to lower operational risk and improve efficiency – especially in an increasingly cashless post-Covid world.

As one of the most flexible cards on the market, the Centtrip Mastercard offers high balance and transaction limits. Accepted across the United States and worldwide, the Centtrip Mastercard makes it simple to respond to guest requests or unexpected expenses. Organizations can have as many cards as required (several hundred cards for a single project is not uncommon) – a feature not offered by traditional payment providers. Many businesses issue multiple cards to all key crew members; one for yacht operations and one or two for consecutive charter APAs. Chef, second officer and steward can have separate budgets allocated and overseen in real time by the captain.

Source: Centtrip

The fintech, headquartered in London, has over 20,000 clients and users around the world, including the world’s largest superyachts, music’s top touring acts 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.

Jane Turner, Chief Executive Officer, said: “Speed and service are paramount within the yachting industry and for too long financial inefficiencies have plagued the sector. Centtrip’s technology makes it clear, fast and effective for crews to manage their funds. We have a number of clients in the United States who use Centtrip globally and now want to use the service domestically. By expanding into the U.S., we are giving highly mobile organizations more control, flexibility and visibility over their money.”

Cardholders and authorized administrators can control the card directly from the award-winning Centtrip app, setting spend limits, freezing or unfreezing cards, and enjoying full, real-time visibility of transactions. Clients 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). In either case, Centtrip provides businesses with full control over their funds and maximum security.

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.
Source: Centtrip

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