Toffer Grant (PEX Card)
Overview
Toffer Grant is the founder and CEO of PEX Card, a prominent provider of corporate prepaid card solutions designed for small and medium-sized businesses. PEX Card, based in New York City, was founded by Grant in 2006. The platform enables companies to efficiently manage employee expenses through prepaid Visa cards, which help businesses manage employee spending by setting predefined limits and enabling real-time oversight of expenditures. Grant's work in pioneering prepaid card solutions has earned recognition in the financial technology space, making PEX Card a notable player in commercial financial services.
Recent Developments
- April 2025: As of the current year, PEX Card continues to enhance its platform with new features aimed at improving the automation and efficiency of expense management. This includes enhanced AI for receipt matching and new integrations with popular accounting software like NetSuite and CMiC for seamless financial operations.
- May 2024: PEX Card raised an undisclosed amount in conventional debt funding to further development of its service offerings. The funding is expected to support new projects aimed at expanding PEX's technological capabilities and market reach.
- June 2024: Toffer Grant was featured on the Small Business Advocate radio show, where he discussed best practices for cash flow management and the utility of the PEX platform in mitigating employee expense challenges.
- December 2023: PEX launched several new functionalities aimed at improving travel expenses management, including international receipt matching capabilities and advanced fraud protection features.
- September 2023: PEX introduced "Low Balance Transfer" features for prepaid accounts, aimed at preventing fund shortages by allowing automatic transfers when account balances dip below set thresholds.
Personal Information
| Attribute | Information |
|---|---|
| Full Name | Toffer Grant |
| Born | - |
| Nationality | American |
| Occupation | CEO and Founder of PEX Card |
| Known For | Founding PEX Card |
| Net Worth | - |
| Education | Marymount Manhattan College |
Early Life and Education
Toffer Grant's career in the prepaid card industry began in 2000 at Clarity Payment Solutions, a venture-backed platform company where he initiated numerous prepaid card programs across various sectors. This role equipped him with significant expertise in the prepaid industry before Clarity Payment Solutions was acquired by TSYS in 2004. Born in New York, Grant attended Marymount Manhattan College, where he earned a Bachelor of Arts in Communications. His early exposure to small businesses through family ventures instilled an entrepreneurial spirit that would later fuel his career in financial technology.
Career and Notable Achievements
- 2006: Founded PEX Card, aimed to offer small and mid-sized businesses a better way to manage employee spending through prepaid cards.
- 2004-2006: Served as VP of Sales at TSYS Prepaid, following the acquisition of Clarity Payment Solutions.
- 2000-2004: Initiated 65 prepaid card programs during his tenure at Clarity Payment Solutions, setting the foundation for his future ventures in prepaid financial services.
- 1997-2000: Held various roles in media and sales, including positions at DoubleClick and William Morris Agency, which provided a broad view of business operations and customer engagement strategies.
Current Work and Impact
As of 2025, Toffer Grant continues to lead PEX Card, steering the company through continuing innovation in employee expense management. Under his guidance, PEX has become a go-to platform for thousands of companies looking to streamline their financial operations and minimize the inefficiencies associated with traditional methods of expense management. Grant's leadership has also contributed to PEX Card's reputation as a trusted provider in the financial services industry, exemplified by the platform's inclusion in competitive rankings alongside major corporate financial service providers.
PEX Rewards
PEX Rewards is a new feature aimed at incentivizing employees while maintaining financial oversight. The rewards program allows for points accumulation on expenses based on predefined criteria set by employers. These rewards can then be used to offset future business expenses, thus encouraging mindful spending among employees while further integrating employee benefits into the company’s financial ecosystem.
Employee Prepaid Card
PEX provides customized prepaid cards for employees that come with predefined spending limits set by employers. These cards are integrated with PEX's comprehensive online dashboard that allows real-time tracking and adjustments to spending categories. The cards are ideal for managing business expenses without the need for a traditional credit line, making them a popular choice among small to medium-sized enterprises.
Conclusion
Toffer Grant's contribution through PEX Card has significantly impacted the landscape of corporate financial management. His initiative to integrate technology with traditional financial services has created an efficient platform for managing employee expenses and has established a reliable service for thousands of companies across the United States. Looking ahead, Grant aims to expand PEX Card’s functionalities further, promising continual improvements and innovations that cater to the evolving needs of the business community.