Reloadable Credit Card: What Is It?
A reloadable credit card is a charge card that permits the issuer to add more funds when necessary. Reloadable credit cards can also allow the issuer to set spending limits, purchase categories and time restrictions to regulate the user’s buying abilities. The issuer can create new cards, load them with extra credit or cancel them using computer software or a smartphone app.
What Are The Benefits Of A Reloadable Credit Card?
A reloadable credit card allows the issuer to control a user’s spending, monitor their purchases and instantaneously add more funds when needed. Reloadable credit cards are a perfect replacement for petty cash funds and reduce the chances of monetary loss, theft and fraud. Card purchases are instantly recorded thereby replacing the need for monthly expense reports and reimbursement checks.
How Does A Reloadable Credit Card Work?
The issuer of a reloadable credit card creates an account with the user’s name and email address. After setting spending ceilings, purchase classifications and time limits, the user is able to make approved purchases. Receipts are instantly captured and can be monitored 24 hours a day. Once a card’s funds are depleted, the issuer can instantaneously reload the card using a desktop computer or a smartphone.
Emburse Reloadable Credit Cards
Emburse reloadable credit cards provide secure purchasing power while allowing the issuer to remotely and instantaneously reload funds. The Emburse system reduces paperwork while making it easy to control expenditures and monitor the spending of its users. Contact Emburse today to schedule a demonstration.