Overview

Ramp provides corporate cards with automated expense management and spend intelligence features. Our analysis of their Terms of Service reveals broad data usage rights, limited liability provisions for transaction issues, and mandatory arbitration requirements that limit user recourse.

Key Concerns

  • Aggregated Data Commercialization: Spending insights and patterns may be aggregated and used for benchmarking products sold to other businesses.
  • Limited Transaction Liability: Ramp limits its liability for declined transactions, processing delays, or merchant disputes significantly.
  • Broad Termination Rights: Accounts can be terminated or suspended at Ramp's discretion with minimal notice requirements.
  • Mandatory Arbitration: Class action waivers and binding arbitration requirements limit collective legal action options.

Positive Aspects

  • Savings Insights: Automatic identification of duplicate subscriptions and cost-saving opportunities.
  • No Fees: No annual fees or foreign transaction fees on the core product.
  • Integration Flexibility: Wide range of accounting software integrations available.

Data Collection Summary

Ramp collects transaction data, vendor information, spending patterns, connected bank account data, accounting integration data, and employee cardholder information. This data powers their savings recommendations but is also used for aggregated insights products.