Latest Corporate Cards News

Swoop Holdings reported a strong quarter with cash reserves rising above $8.8 million and a 4% increase in customer numbers, supported by a new wholesale deal with TPG Telecom and pending proceeds from the Melbourne Fibre project sale.

OFX Group has accepted a recommended all-cash takeover bid from UK-based Equals at $1.00 per share, more than doubling its share price from early February. The deal values OFX at $247 million equity and hinges on due diligence, debt financing, and shareholder approval, while the company reports steady growth in its corporate payments business and strong non-FX revenue.

Klevo Rewards has made major strides in Q1 2026, unveiling an Australian dollar-backed stablecoin and securing SWIFT network access through Fly Wallet, boosting its global payments and rewards platform.

OFX Group has almost completed migrating its corporate clients to a new platform, driving a 177% jump in non-FX revenue despite a quarterly dip in overall income. The company targets a return to growth in FY27 amid ongoing strategic review.

EVZ Limited has upgraded its banking facilities by replacing Commonwealth Bank with HSBC, expanding total committed credit to $15.5 million. The new arrangements offer improved terms and greater financial flexibility to support growth across its Energy & Resources and Building Products divisions.

Klevo Rewards’ subsidiary Fly Wallet has gained multi-jurisdictional certification, paving the way for its corporate card programs across 18 international markets.

OFX Group Limited has initiated a strategic review to explore growth and sale options while reporting softer 3Q FY26 earnings impacted by macroeconomic challenges. The company also announced the resignation of its CFO, signaling a period of transition.

OFX Group reported a 5.6% decline in net operating income for 1H26 amid macroeconomic challenges but showcased strong progress in its OFX 2.0 platform transition and strategic investments aimed at long-term growth.

8common’s subsidiary Expense8 has renewed its contract with the NSW Department of Education for another two years, reinforcing its role as a key provider of travel and expense management software in government.