This month at Modulr, we’re continuing to spotlight Spend Management, built to help you issue company cards, set spend limits and track transactions in real time. Commercial Variable Recurring Payments are also coming soon for eligible customers in sectors including energy, telecoms, utilities, government and charities. We’ve also added a Payment File Date Override in the Modulr Portal for Bacs 18 uploads. Looking ahead, FX will soon be built into the payment flow, and we’re inviting customers to register interest in our Sage Intacct integration beta.
Dive in below to explore what's new and what's next.
New Products
Spend Management
Spend Management is live and ready to use - and if you're on a Modulr Accounts Payable or bundled plan, it's already included in your package.
Issue company cards in seconds. Set spend limits per card, see every transaction as it happens, and manage everything from the same platform you use for supplier payments.
Take our interactive tour to discover the features and how company cards works.
Here's how to get started:
- Already on Accounts Payable? Log in and find it under Company cards.
- Not on Accounts Payable yet? Spend is included when you join. View plans.
- Want to talk it through? Chat to a payments specialist.
Commercial Variable Recurring Payments
Commercial Variable Recurring Payments (cVRP) for energy, telecoms, utilities, selected financial services, government, and charities will soon be available under a new industry-led scheme.
With cVRPs:
- Receive payments faster with same-day settlement
- Enable flexible, variable payment collections that reduce manual reconciliation
- Lower the risk of failed card payments or direct debits
We're launching cVRP in early June for eligible customers.
New Features
Payroll/Payouts | The Modulr Portal
Payment File Date Override
Payment File Date Override lets you set your own payment date when uploading a Bacs 18 file, overriding the date embedded in the file. The date applies across every transaction in that upload.
This matters most around bank holidays, weekends, and payroll runs where your software locks you to a fixed date. Rather than opening a Bacs file in a text editor and reformatting Julian dates by hand, you choose the date at the point of upload.
Log in to the Modulr Portal to try it out.
Enhancements
API
Direct Debit Indemnity Claim (DDIC)
To improve visibility of Direct Debit Indemnity Claims (DDIC), we are introducing a webhook to notify you of incoming claims and status changes.
This webhook will be available for new claims from June 30th and supplements your existing DDIC process.
API
Payment File Upload | new status values in file upload API
We are making changes to the file upload processing flow for the Payment File Upload service. As part of this update, the GET /payment-file-upload-service/payment-files/{fileId} endpoint will return two new status values that you may observe when polling for file status.
Coming Soon
FX, now built into the payment flow
Today, moving money across currencies is often two disconnected jobs - executing the payment, and managing the FX. We're changing that. Modulr FX brings cross-currency payments into the same platform that already handles your payments, accounts, and cards. Convert between 20 currencies on demand. Fund payments automatically when an account is short on the currency owed. Apply real-time FX at card authorisation, with transparent rates on every transaction.
Register your interest to be among the first to try it.
Accounting Integrations
Sage Intacct integration | join the Beta
We’re working towards the launch of a new Sage Intacct integration as part of the Modulr Accounts Payable (AP) platform and we’re now inviting customers to take part in the beta.
With the Sage Intacct integration, you can:
- Sync bills from Sage Intacct directly into Modulr AP
- Create and approve payment runs in Modulr
- Automatically reconcile completed payments back to your accounting ledger
- Sync vendors, ledgers, and key accounting data to support more of your AP workflow
This integration is designed for customers who already use Sage Intacct and either have Modulr AP today or are looking to upgrade.
