Business Prepaid Credit Cards: What Are They?
Business prepaid credit cards are charge cards funded by an employer to allow their employees to make approved purchases. A business creates and issues a prepaid credit card using an employee’s name and email address removing the need for additional personal information, bank accounts or credit checks. Parameters can be set for spending limits, purchase categories and time restrictions allowing the employer to monitor and control employee disbursements. Business prepaid credit cards can be instantly reloaded providing seamless purchasing abilities.
What Are The Pros Of Business Prepaid Credit Cards?
Business prepaid credit cards remove the need for petty cash, expense reports and reimbursement checks. Prepaid credit cards can be used wherever credit cards are accepted lowering the risks of theft or fraud associated with cash. Employers are afforded enhanced security by being able to instantly cancel a card, change spending limits or alter purchasing categories with easy to use software.
Business Prepaid Credit Cards Versus Petty Cash Funds
Business prepaid credit cards are superior to petty cash funds in that they remove the need for expense report reconciliation, lower the occurrences of lost or stolen cash and end the practice of employees using their own funds. Risks associated with petty cash funds such as overspending, unapproved purchases and lost receipts become things of the past when using prepaid credit cards. Prepaid cards also allow the employer to monitor purchases 24 hours a day decreasing incidents of employee misuse.
Emburse Business Prepaid Credit Cards
Emburse prepaid credit cards allow a company to shift considerable resources away from the accounting procedures and security measures associated with petty cash funds and expense reconciliation. Call Emburse today to find out how your company can benefit from updating the way you deal with employee expenditures.