Venn vs Loop: Which Corporate Card Solution Offers the Best Value for Your Business?

Struggling to manage company spending while ensuring rewards, control, and automation are seamlessly integrated?

The Canadian corporate card landscape is evolving fast. Businesses now demand more than just transaction tracking; they need tools that offer real rewards, embedded controls, and seamless integrations with accounting and banking systems.

Solutions like Venn and Loop are increasingly embedded in finance tech stacks and tailored for fast-growing businesses, each offering a unique approach to managing multi-currency spending, team access, and international transactions.

This head-to-head comparison will help you evaluate the key differentiators across spend controls, rewards, integrations, and onboarding, enabling you to select the solution that best aligns with your growth trajectory and financial operations.

Venn vs Loop: Corporate Cards Quick Comparison Overview 

Venn and Loop are two of the leading corporate card solutions for Canadian businesses, each designed with distinct strengths to meet the varying operational needs of businesses. Here’s a side-by-side comparison to help you quickly evaluate which platform is best suited to your company’s requirements.

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Rewards and Cashback Features

Corporate card programs use cashback or points to incentivize spending. The structure matters; some platforms offer tiered rewards and flexible redemption options, while others adhere to simpler models. Both security and spend controls are essential to ensure compliance and ease of use. 

Here’s everything you need to know about Venn and Loop’s rewards and cashback features.

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Venn vs. Loop Corporate Cards: Expense Management and Spend Controls

For growing businesses, controlling spending in real-time and conducting efficient expense management is crucial to maintaining financial discipline. Without the right tools, businesses face delays in reconciliation, policy breaches, and limited visibility into team-level spending. 

Corporate cards with built-in controls and automation simplify this process, reduce errors, and improve oversight across departments.

Venn

Venn is designed for finance team control, enabling granular spend limits across individuals, teams, and departments. It offers customizable team budgets, per-card controls, and supports pre-approval processes through multi-level and custom approval workflows tailored to company policy. These features allow businesses to allocate budgets effectively, enforce spend discipline, and maintain oversight at every level.

Venn also automates expense tracking with real-time receipt capture via SMS or email, automatic categorization, and two-way syncing with accounting platforms like QuickBooks and Xero, reducing manual work and improving reconciliation accuracy.

Loop

Loop focuses on real-time spend tracking with role-based permissions and category-level restrictions. It tracks team and department spending, providing managers with visibility into how funds are being utilized across the organization.

Businesses can set limits by user or team, block specific spend categories, and enforce policy-based controls. Like Venn, Loop is also used for vendor and subscription management, helping companies monitor recurring expenses and control SaaS or supplier-related spending. While it doesn’t offer multi-level approval workflows, Loop provides essential controls and real-time visibility, which are well-suited for e-commerce and cross-border teams.

Venn vs. Loop Card Types and Availability

Effective corporate spending management requires flexibility through both virtual and physical cards. Understanding each platform's card offerings helps businesses optimize payments for everything from subscriptions to in-person purchases from vendors.

Venn

Venn provides virtual, physical, and single-use (one-time) cards to support a wide range of payment needs. Virtual cards are ideal for subscriptions and online transactions, while physical cards handle day-to-day expenses, and single-use cards help manage one-off purchases securely. Venn offers unlimited virtual cards across its plans, including Essentials, Plus, and Pro, providing businesses with the flexibility to issue cards as needed.

All card types can be customized by role, project, or vendor and come with adjustable spend limits and instant lockdown capabilities, allowing for granular control and enhanced tracking.

Loop

Loop offers a tiered card system based on plan type. The Basic plan includes up to 20 virtual cards and two physical cards, while the Plus and Power plans allow for unlimited virtual cards and up to 10 physical cards. Virtual cards are ideal for making frequent online purchases, paying vendors, or managing recurring subscriptions, while physical cards offer programmable spending limits for everyday business expenses.

Automated Receipts and Expense Reporting

Automating receipt capture and expense reporting is crucial for modern finance teams seeking to scale operations without incurring additional manual overhead. Manual processes often result in lost receipts, delayed approvals, and inaccurate reporting, particularly in businesses with distributed teams or high transaction volumes. 

Here’s a breakdown of how Venn and Loop perform in terms of automated receipts and expense reporting.

Venn

Venn uses automation to simplify and strengthen expense reporting workflows. Receipts are automatically captured via SMS, email, or direct upload, eliminating the need for manual entry. AI-driven categorization ensures accurate expense classification, while adjustable, multi-level approval workflows support real-time manager sign-offs in accordance with company policy.

Venn’s expense data and approvals sync seamlessly with accounting tools, including QuickBooks and Xero, reducing manual reconciliation and enabling finance teams to close their books faster while focusing on more strategic tasks.

Loop

Loop supports automated expense and receipt management designed for growing and global teams. Employees can upload receipts via mobile or email, and Loop automatically links them to the corresponding transactions. Expenses are categorized in real time, giving finance teams visibility across teams, departments, and currencies.

Loop’s receipt matching is linked to automated accounting tools like QuickBooks and Xero, streamlining reconciliation and reporting.

Card Security Features and Access Control

Protecting corporate cards and financial data is essential to prevent fraud and ensure compliance. Both Venn and Loop implement robust access controls and card-level security to enhance transparency and financial safety.

Venn

Venn enforces strict permissions through admin controls that assign role- and department-based access. It supports pre-approval processes, allowing administrators to restrict transaction approvals and sensitive data visibility to authorized users. 

Custom approval workflows ensure spending aligns with company policy. The platform includes real-time fraud monitoring to detect unusual activity and encrypts data both in transit and at rest. As a FINTRAC-registered MSB, Venn offers compliance-grade financial data protection.

Real-time fraud monitoring tools identify anomalous spending and alert to potential fraud. Data encryption provides peace of mind and ensures compliance by protecting the transmission and storage of financial data.

Venn secures all customer funds through a strict safeguarding policy, meaning 100% of funds are held securely with Venn’s banking partners and are not lent out. This ensures that your funds are fully protected even if Venn were to experience financial difficulties. Fraud protection is also provided, up to USD 25,000 per card, to cover any potential misuse.

Loop

Loop provides strong controls tailored for dynamic spending environments. It issues single-use virtual card numbers for one-time purchases, thereby reducing the risk of fraud. Departments and roles can be granted specific access levels, and managers receive real-time alerts for transactions. 

Loop also includes automated employee misuse protection, up to USD 25,000 per card, and supports customizable spending limits, including those by category and currency.

Reporting and Financial Integrations

Clear financial insight and seamless integration with accounting software are essential for informed decision-making. Corporate card platforms like Venn and Loop help automate transactions, track budgets, and simplify reconciliation, providing finance teams with reliable, real-time visibility into spending and enabling them to make data-driven decisions.

Venn

Venn delivers powerful reporting and native integrations with major accounting tools. It automatically syncs transaction data with QuickBooks, Xero, and feeds, reducing manual entry and minimizing reconciliation issues. 

Venn’s dashboard enables businesses to monitor budgets, cash flow, and spending trends in real-time, supporting more accurate forecasting and improved financial control.

Loop

Loop also supports seamless integration with accounting tools. It connects directly to QuickBooks and Xero to auto-sync transactions, speeding up reconciliation and reducing manual effort. Loop’s reporting features allow businesses to track spending by category, department, or project, and export detailed reports for financial statements, tax preparation, and audit needs. 

Just like Venn, Loop is also embedded in finance tech stacks, making it easy to incorporate into existing workflows. With real-time visibility and customizable reporting, Loop streamlines company-wide budgeting by helping teams monitor expenses, track vendor spending, and allocate costs efficiently across cross-border and e-commerce operations.

Pricing Plans and Limits

When selecting a corporate card solution, it's essential to understand the features, fees, and transaction limits to choose the best fit for your business's budget and growth stage. Both Venn and Loop offer specialized programs tailored to various business needs.

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Handling Foreign Exchange Transactions

Managing cross-border purchases and foreign currency transactions requires attention to FX rates, multi-currency support, and fees. Venn and Loop have different approaches to FX markups, currency conversion, and international transactions.

Understanding these differences helps businesses select the most suitable solution for their global financial needs.

Note that Venn complements Interac e-Transfer® for fast, secure domestic payments. It offers low FX markups for international transactions while using Interac e-Transfer® for local payments, streamlining vendor and contractor payments. 

Venn

For businesses with international spending, Venn is ideal due to its competitive FX transaction policies. Its FX markup starts at 0.45% (Essentials Plan), dropping to 0.25% (Pro Plan), which is lower than most traditional banks. Venn provides seamless multi-currency compatibility and real-time exchange rate visibility.

Venn provides seamless multi-currency compatibility and real-time exchange rate visibility, helping to mitigate the impact of currency fluctuations. Venn's payment methods include USD and other currencies.

Loop

For handling multi-currency transactions and international purchases with predictable costs, Loop provides a flexible and user-friendly solution. However, hidden FX spreads may still be applicable.

Loop supports multi-currency spending without the need for separate accounts, making it ideal for global trade. Loop's economic strategy is less reliable than Venn's steady, lower foreign exchange (FX) markups.

Onboarding and Card Issuance Process

The onboarding process for corporate card solutions is crucial for businesses, as a swift and efficient setup enables teams to start using their cards promptly. Companies should consider the time it takes to sign up, verify, and issue cards.

This section compares the onboarding timelines, verification, and card issuance speed of Venn and Loop.

Venn

Venn offers a streamlined onboarding process. After submitting the required documents (business registration and owner ID), virtual cards are issued immediately. Physical cards are shipped within 7 to 15 business days (or 3-5 business days with express shipping), providing fast access to all transactions.

Loop

Loop provides a fast setup process. After signing up and completing basic verification (which takes 1-2 business days), virtual cards are issued instantly. Physical cards are shipped within 5-7 business days, ensuring quick access to both.

Why Canadian Businesses are Switching from Loop to Venn

As Canadian businesses grow, many transition from Loop to Venn for more robust corporate card solutions. While Loop suits smaller businesses with simpler needs, Venn offers advanced financial tools, tighter controls, and seamless accounting integration. 

Venn’s comprehensive spend management includes customizable workflows, team budgets, and detailed reporting, improving financial oversight and compliance.  

It also supports multi-currency transactions, is connected to employee card issuance, and provides mobile-first spend controls, capabilities critical for scaling operations. 

Businesses switching to Venn report significant improvements in expense tracking, thanks to its reporting dashboard and automated reconciliation.

Venn vs Loop: Which Corporate Card Solution is Right for Your Business?

Choosing between Venn and Loop depends on your business size, financial goals, and the complexity of your spending. While both offer valuable features, Venn stands out as the more comprehensive, scalable solution.

Venn is an all-in-one solution for businesses needing robust spend management, greater financial control, and seamless accounting integration. It is ideal for growing or mid-size businesses with complex spending structures, offering customizable workflows, detailed reporting, and multi-currency support for cross-border transactions.

Loop focuses on smaller businesses or e-commerce teams with simpler spending needs. It provides real-time tracking and simple reporting, making it an ideal option for companies that prioritize quick onboarding, low-maintenance solutions, and straightforward expense tracking.

Ready to Streamline Corporate Expenses and Enhance Team Collaboration with Venn?

Take control of your business expenses with Venn, the superior all-in-one corporate card and spend management solution for Canadian businesses. 

With real-time visibility, automated workflows, and unified expense control, Venn simplifies financial oversight and improves collaboration across teams.

• Gain insights into spending and cash flow
• Automate approval workflows and categorization
• Manage multi-currency transactions seamlessly

Book a demo, start a free trial, or explore Venn’s platform today to see how it can enhance your business’s financial operations.

Frequently Asked Questions (FAQs)

Q: What’s the best corporate card option for Canadian startups with limited credit history?

A: For Canadian startups with limited or no credit history, prepaid and charge cards are the best options for establishing a credit history. Solutions like Loop and Venn offer cards that don’t rely on personal credit scores, making them ideal for early-stage businesses. These cards come with spend control tools, real-time tracking, and budgeting features to help startups manage expenses without needing a strong credit history.

Q: What are the key differences between prepaid corporate cards and traditional credit cards?

A: Prepaid corporate cards require businesses to load funds before use, offering a convenient option that eliminates the need for a credit check. They provide real-time spend control and help manage budgets. Traditional credit cards extend a line of credit, allowing businesses to spend up to their limit and pay later, often with interest. Prepaid cards help avoid debt and improve budgeting, while credit cards offer flexible payment options but typically come with higher interest rates.

Q: Is it possible to get a corporate card in Canada without undergoing a credit check?

A: Yes, both Loop and Venn offer corporate cards that do not require a personal or business credit check. Instead, eligibility is typically based on revenue, business bank account connections, or cash flow. These cards allow businesses to access funding without being tied to their credit score.

Q: Which platform offers more granular team spending controls?

A: Venn offers more granular team spending controls compared to Loop. Venn’s customizable approval workflows, spending limits, and per-card controls allow businesses to set specific permissions and restrictions based on departments or roles. Loop also provides spending limits and category restrictions, but its controls are less customizable than those of Venn.

Q: Are physical cards available on all pricing plans, or are they limited to specific tiers?

A: For Venn, physical cards are available across all pricing plans, including the Essentials Plan. Loop, however, may restrict physical card availability based on the pricing tier selected, typically offering physical cards with higher-tier plans.

Q: Can these corporate cards be used internationally without extra fees?

A: Yes, both Venn and Loop can be used internationally without extra fees. Venn offers low FX markups (starting at 0.45%) depending on the plan, making it a good option for international transactions. Loop, on the other hand, offers 0.50% FX markup on the basic plan along with interbank exchange rate markups. 

Q: Is there a limit to how many virtual cards I can create with either platform?

A: No, neither Venn nor Loop places a strict cap on the number of virtual cards you can create. Both platforms enable businesses to create multiple virtual cards tailored to their specific needs, allowing them to easily assign unique cards to employees, projects, or vendors.

Q: Do Venn and Loop offer mobile apps for managing corporate cards?

A: Yes, both Venn and Loop offer mobile apps for managing corporate cards. These apps allow businesses to track spending, upload receipts, and approve expenses from anywhere. The core functionality of both apps includes real-time spend monitoring, expense categorization, and team collaboration features.

Q: Are there any promotions or discounts available for new users of Venn or Loop corporate cards?

A: Currently, Venn and Loop do not offer specific promotions or discounts for new users. However, they may periodically offer referral programs or limited-time discounts, so it’s worth checking their websites or contacting their sales teams for the latest offers.

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_{The comparative information provided on this page is based on publicly available sources and is accurate to the best of our knowledge as of July 20, 2025. Features, pricing, and terms may change without notice. For the latest information, please consult each provider’s official website directly. All trademarks and product names are the property of their respective owners. Their use does not imply any affiliation with or endorsement by those brands.}