To lure small-business credit card customers, JPMorgan Chase & Co. has created Jot, a mobile expense-tracking tool for users of its Ink-branded small-business credit card.

Jot, which launched June 1, enables cardholders to categorize, or "tag," a purchase immediately after it is authorized at the point of sale, with the goal of simplifying subsequent bookkeeping and expense management.

Jot's ability in tracking small-business expenditures through mobile devices is unusual in the market, JPMorgan Chase claims. Wells Fargo & Co. earlier this year introduced a similar feature for its commercial card customers to enable managers to track business expenses on the fly.

"Small-business owners told us that they're often making purchases on behalf of multiple clients, and sorting out the receipts for each client at the end of the month can be a time-consuming hassle," a JPMorgan Chase spokeswoman said in an interview.

"This feature is something that will slash paperwork and make it easier for owners to reconcile expenses," she said.

The Jot application, which cardholders may access for free online or download to Apple Inc. iPhones and Google Inc. Android devices, sends text messages to cardholders after each authorized purchase.

The text message notifications appear "nearly simultaneously" with the purchase, asking cardholders whether they want to tag their transaction, the spokeswoman said.

When cardholders opt to immediately tag a transaction, a screen displays the transaction's details.