FLEXIBLE PREPAID CARD SOLUTIONS

CorporatePay provides prepaid card solutions to a wide range of organisations, regardless of industry or size, serving individual traders, SMEs, multi-nationals and consumers. We pride ourselves on our ability to flex our solution to cater to a client's specific needs, whether that is an industry or a personal requirement.

What is CorporatePay's flexible prepaid solution?

Prepaid cards can be used in much the same way as a corporate credit or charge card, and offer a range of benefits versus these more traditional forms of managing expenses within a business.

Whether you are looking to pay expenses, make purchases, manage petty cash or disburse funds to customers our prepaid solutions allow our clients to run a centrally managed, transparent payment solution.

There are a number of core benefits, including:

• Simple and instantaneous payments to cards
• Control over payment amounts with per diem allowances as well as customised spending limits per card
• Card usage can be restricted to specific locations, merchants or even by type of transaction reducing over-, or unapproved, spending
• Implementation of transparent and manageable audit trails for employee expenses, reducing issues around lost, or incorrect receipts and reducing administration time
• Improved tax reporting, record keeping, and controls for audit purposes through the accurate recording of travel expenses

These benefits allow companies to realise cost and efficiency benefits for employees, and internal financial and administration teams.

Virtual Card Solutions

CorporatePay can also provide clients with a virtual card solution, ideal for making multiple payments worldwide in multiple currencies. For example, virtual cards can be used by affiliate networks making payments to publishers worldwide, or for travel agencies booking hotels, flights or trips around the world.

These cards operate on the same principal as physical prepaid cards, with a new card created for each payment or booking. Funds can be added and downloaded as required, to give both debtor and creditor greater visibility over liquidity and timing of the payment.

Available in MasterCard® or VISA, selection of the right card can give the payee exemption from booking fees with several low cost providers. For more information on our virtual card solution, please contact us.

Multi-Currency Solutions

CorporatePay's prepaid cards are available in Euros and US Dollars. Combined with the ability to manage accounts denominated in multiple currencies, our prepaid card platform helps our clients to gain greater visibility over their payments both within the UK and overseas.

Significant cost savings can also be achieved by leveraging CorporatePay’s multi-currency solutions. With prepaid accounts denominated in foreign currency, any foreign exchange fees can be minimised through buying currency in bulk at wholesale rates or funding the accounts directly from a company's Euro or USD bank account.

This equates to a substantial cost saving for companies when compared to the costs associated with using corporate credit cards abroad or buying currency at retail foreign exchange rates.