Corporate cards have been around the business industry for a while now. While popular banks have been issuing corporate credit cards for years, FinTech platforms are now offering more evolved payment solutions that can essentially manage all your business expenses from a single touch-point. From a sophisticated spend-management system to a kit of robust Corporate cards that spans the entire range of corporate expense spectrum, FinTech platforms like EnKash are redefining how business payments are done in the new-normal world.
EnKash has a vast variety of Corporate cards that can be employed in multiple areas of business intended transactions. The advantages of these cards are exponential in comparison to using personal cards for business expenses to avail reimbursement. For starters, these cards are universally accepted and can be customized with a company logo and employee name to enhance personalization. There is no waitlist for issuing or usage of cards as they get activated the very same day. You can create unlimited cards on the fly for your business and they can be tracked in real-time from a unified platform. These cards can have predefined spend limits, authorized vendors, a segment of usage, and a much higher level of customization.
It's evident till now that Corporate cards are a powerful tool for B2B expenses. Let's understand in depth the types of cards EnKash offers so you can make an informed decision as to which cards the best suit your business.
Purchase cards are meant solely for B2B expenses. They increase the cash-flow efficiency of your business by extending credit limits on DPOs. They also offer enticing cashback and rewards on your expenditure. P-cards have a revolving credit line which allows you to pay your dues within 30-45 days of the credit cycle. You can also get a tailor-made billing cycle for your business so that your cash-flow is not impacted because of your payables. The beauty of these cards is that you can track the payments in real-time and ensure that the card is not used where it is not supposed to. This card is used to pay for office supplies, rent and other office utilities, vendor and supplier payments and any such business-related payments.
Travel and entertainment form a major chunk of any business expense. From meeting clients for dinners, entertaining clients for long meetings to travelling around the globe on business purposes, travel and entertainment expenses mount up substantially. Using traditional reimbursement methods is a pain in this area because it requires large amounts of receipt management and storage on the employee's part and time-consuming cross verification and reconciliation on the finance team's part. EnKash offers a powerful T&E card that can resolve all these issues. This card can have limits set on expenditures like travel, lodging, meals, and local conveyance so there's no scope of misuse. It comes with a state-of-the-art expense reporting tool that provides complete control and visibility of all expenditures.
EMI cards are one of the most useful cards in the Enkash kit. Break up your large payments like vendor payments, bills, and other purchases into small and easy EMIs which can be auto-deducted from the card on each payment cycle. Businesses can also avail of pre-approved offers on EMIs and can get the cards up and running with minimal documentation. These cards offer a flexible repayment period from 3 to as long as 36 months so there's no added burden on the cash flow of the company.
E-commerce seller cards are exclusively available at EnKash which are not available even with the most popular personal credit card issuing platforms. These cards intend to enable e-commerce businesses to access business management tools and dashboards. Not just that, these cards also help you create customized spend reports, manage budgetary constraints, and pay taxes- all from a single card. With great cash rebate schemes, the more you pay, the more you get back!
These cards can be used to disburse tax-free meal amounts to employees to use on any kind of food items, meals, and beverages. An easy-to-use card with flexible denomination top-ups, this card is valid at almost all merchant outlets including restaurants, sweet shops, etc.
Fuel cards allow easy disbursal of fuel allowance to employees without the need to manage any third-party fuel vendors. From a single dashboard, you can easily receive transaction data, define reimbursement policies and verify transactions for audit purposes.
Payroll cards are a saviour for employees. It is a reloadable debit card that can be used to pay salaries, bonuses, incentives, and any other compensations. These cards give employees immediate access to their salaries even without a bank account and with no hassle of maintaining a minimum balance.
Corporate gifting is vital to boost employee morale and corporate gift cards do just that! It helps in gifting employees for birthdays, festivals, commissions, or rewards without going through the hassle of selecting, sourcing, and managing gifting options. You can select exclusive merchants and categories across which the card can be used for a truly personalized gifting experience.
Forex cards with no foreign currency conversion and markup charges? It's possible with an EnKash Multi-currency Forex card. With this card, pay only for the usage with no added costs. Use this card anywhere in the world with zero conversion fees!
Apart from these, EnKash also offers Virtual Cards which are essentially digital cards that can be customized and disbursed through a digital platform. Create as many cards as you need on the go with same-day go-live. These cards are for a specific end-use and can be assigned to individuals, teams, departments, and locations. You can also create single-use virtual cards for online purchasing to reduce fraud risk. These cards are the most flexible yet the most powerful tool for business expenditures.
The availability of Corporate cards in the market is vast but EnKash offers Corporate cards that are truly robust, secure, and can be completely tailor-made to suit your business the best. Let EnKash show you the power of cards that can fundamentally change the way you pay!