Expensify to Announce Support for Expense Reimbursement via PayPal at PayPal X Innovate 2010

SAN FRANCISCO, Oct. 26 /PRNewswire/ -- Innovate 2010, Expensify "Expense reports that don't suck!" is using the PayPal X platform, the world's first truly global payments platform to make it easier – and less costly – for companies utilizing Expensify's automated expense reporting service to reimburse employees via PayPal.

Expensify is an early adopter of PayPal Business Payments, a pilot program for applications that address key customer needs ranging from invoicing to disbursements, payroll, rent and tax collection. Through PayPal Business Payments, developers have access to $.50 flat fee pricing for U.S. dollar transactions funded using a PayPal balance or eCheck only. The pilot is currently underway and open to developers who sign up on x.com. It will become generally available next year.

"We're super excited to reimburse expense reports through PayPal because we have lots of small customers who live and breathe PayPal for everything they do," said David Barrett, Expensify's founder and CEO. "With PayPal Business Payments, our users can use PayPal for transfers of all sizes, in all 50 states."

"Expensify is an ideal early adopter in our PayPal Business Payments pilot because expense reimbursement is a unique example of where PayPal Business Payments allows easier and more cost-effective business payments," said Damon Hougland, head of PayPal X. "Expensify is a great example of how third-party developers can use PayPal X to create a new generation of payment options."

About Expensify, Inc.

Expensify does "Expense reports that don't suck!" by importing expenses and receipts from credit cards and mobile phones, submitting expense reports through email, and reimbursing online using QuickBooks and direct deposit.  Expensify is a leading app in the Intuit Workplace, a launch partner in the Google Apps Marketplace, a "Force 40" application in the Salesforce AppExchange, and ranked highly in the iPhone, Android, BlackBerry, and Palm application marketplaces.

www.expensify.com

Twitter: @expensify

SOURCE Expensify