Business prepaid cards for employee expenses
Give your employees access to company funds with smart spending restrictions by providing them with the best business prepaid cards in India.
Prepaid cards for business expenses help you track money in real-time and reconcile your account in a matter of seconds. Your employees won't have to worry about making business purchases anymore.
Trusted by finance teams at startups to enterprises.
Prepaid cards with built-in spending limits
Prepaid business cards come with built-in spending limit controls to help you make sure that employees don’t overspend the allotted budget.
So employers can load money for the entire year on a prepaid card and set a limit for monthly usage. This way the budget is equally divided throughout the year.
Approvals to manage company spending
Since there are custom controls to restrict overspending there is no chance that there will be out-of-budget expenses.
But in case a need arises for an employee to exceed their spending limit, they can easily do so by requesting additional funds in their prepaid card. This process goes through an approval system where the employee’s approving manager must approve the request for the funds to be transferred.
Track expenses in real-time
Volopay prepaid cards are linked to our expense management platform. This allows company admins and card owners to track expenses in real-time.
Each transaction that happens through a Volopay card is instantly recorded on the system under the card ledger so there is complete transparency and visibility of expenses at all times.
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Enhanced security
Apart from the custom spending limit controls, Volopay prepaid business cards also come with features such as temporary freezing or permanent blocking. This ensures that in case the card is stolen or lost, your funds will be kept safe at all times.
In case a card is lost or stolen, you can immediately use the Volopay web or mobile app to freeze the card until it’s found or permanently block it if you think it cannot be recovered anymore.
Easy to load and easy to use
Loading money into each card is extremely simple. The finance team member, admin, or department manager can easily load money into a card through our platform.
The cards can be easily used for online transactions as well as physical POS terminal payments. If your employees find themselves in need of instant cards or funds, you can create unlimited virtual business prepaid cards on the platform to manage all online expenses. These cards come with the same degree of control and security as physical cards.
Easy integration with accounting systems
Volopay’s platform has native integrations with some of the leading accounting software platforms such as Netsuite, Xero, Quickbooks, MYOB, Tally, Zoho Books, Deskera, and more! This ensures that all your business expense data is easily synced and exported into your accounting tool automatically.
Financial stack for business
No more switching between multiple bank accounts and tools to run your smart business. We have combined great software with every service you are using a bank for, to produce a state-of-the-art financial platform.
Empower your employees with physical and virtual cards
Manage and track every dollar that leaves your company
Open a global account with multi-currency payments
Manage vendors, approve invoices and automate payments
Save hours daily, and close your books faster every month
Integrate with the all the tools and software that you use daily
Why do you need a prepaid business card?
Travel expenses
Many employees who need to travel a lot for their work need business prepaid cards so that they can manage travel expenses, including airfare, hotel, and rental car expenses.
Petty cash
Volopay cards are a great replacement for petty cash. With cards, there is complete transparency of all transactions and no chance of leakage or wastage of money.
Employee expenses
Volopay cards are a great way to manage employee expenses such as food and entertainment expenses. They let each employee have the flexibility to make spending choices while still giving the company control over the overall expenses.
Purchasing and procurement
Prepaid cards help the operations team easily purchase and procure the needed raw materials for production. This enables faster business operations without any halts due to the unavailability of funds.
Online purchases
Many companies have online payments to be made such as software subscriptions, office supplies, and marketing materials. All of these can be easily paid for and handled through prepaid business cards.
One-time purchases
These cards are also great for any kind of one-time business purchases such as festival gifts for employees, office repairs, etc. A vendor can also be easily paid for their services using these cards.
Prepaid cards to help streamline your expense reporting process
Why do startups and enterprises choose Volopay cards?
1. Prepaid card security
Each Volopay corporate card comes with security features like card freezing and blocking. This ensures that in case the card is stolen or lost, your funds will be kept safe at all times.
2. Superior support
Every business is appointed a customer success representative to onboard and set up their account, clarify any doubts or queries, & troubleshoot problems.
3. Unlimited virtual cards
You can create unlimited virtual business prepaid cards on the platform to manage all online expenses. These cards come with a wide range of features that are provided specifically for the purpose of control and efficiency.
4. No hidden fees
There are no hidden costs or extra fees involved in using the Volopay cards. Any kind of fee or charge will always be mentioned clearly before making any payments.
5. Instant card issuing
Once your Volopay account is created ordering a card is as easy as a click of a button. You simply have to fill in the necessary details and you will receive the card within a few days.
6. Market leader
Established in 2020, Volopay has already expanded to four markets including Singapore, Australia, India, and Indonesia.
7. Maximum control
Each card can be set with its own custom spending limit to ensure there is no overspending. This can be controlled from both the mobile app and our web app.
Learn more about our physical cards
Volopay is a centralized business financial control center that combines innovative solutions such as smart corporate cards, AP automation, efficient automated accounting, approvals, and employee reimbursements.
Real-time expense reporting
Make a system for keeping track of your spending that allows you to see where, when, and why each item was purchased.
Custom filters can be used to create reports that only show information that is relevant to data collection and analysis. Forecasting and making preventative financial decisions are now much easier.
Multi-level approvals
To ensure that no transaction is missed or goes against company policy, you can set five layers of approval.
To handle all employee expenditures and payments, all fund requests are forwarded to the company policy and approval algorithms.
Subscription management
Create payments and schedule them using our virtual cards for subscriptions to avoid late payments and service interruptions. Real-time tracking can help you avoid making numerous payments.
Block and freeze options also protect you from spending for SaaS models that you no longer use.
Accounting automation
Accounting software has progressed. Our system integrates with the most widely used accounting software in the world, allowing you to sync your data in real time. You can plug and play your spending from card swipe to closed books with tools like Xero, Quickbooks, Netsuite, Deskera, and others.
They loved Volopay, you will too
Explore more about business prepaid cards
Explore the concept of prepaid cards, understand how they function and their practical uses cases for businesses.
Check out our comprehensive guide to choosing the right prepaid card solution for seamless financial management in your business.
Explore how payroll cards can help streamline the payroll process, and how to apply for payroll cards for your organization.
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FAQs on physical cards
A business prepaid card is a type of payment card that can be loaded with a certain amount of money in it. No money apart from the amount that was loaded onto this card can be spent through it.
Yes, most prepaid cards let you withdraw cash if you use them at an ATM. Depending on the card provider, they might charge you a certain fee to do so.
Yes, you can apply for physical cards if you have a Volopay account. To order actual cards, go to the physical cards section of your dashboard and select "Order." You'll be asked for information about the employee who will receive the physical card.
All physical cards can have their own approval policy, spend restriction, or custom reload limit. When you first set up the card, you can specify this restriction. You can also designate who is in charge of approving employee requests to change this restriction.
You must create an account and onboard with a bank or a modern FinTech company that offers prepaid cards for businesses.
A prepaid card and a debit card are very similar in the way they function except that a debit card is connected to a checking/bank account whereas a prepaid card isn’t. The answer to which card is better depends on the provider you choose and your business needs.
All card expenses are updated in real time in the general ledger. When a payment is made, it is immediately recorded. If you wish to review the spending on a certain card, you can use the ledger filters to set precise filters.
Native integrations are available for Xero, Deskera, Netsuite, and Quickbooks. We also have export options for MYOB and Talenox. You can design an export template for your card ledger, export the files, and import them into your accounting program without having to manually edit any data.
Volopay uses modern technology and infrastructure to ensure that all our client's important and confidential information is safe.
Volopay is ISO 27001 certified, as well as PCI DSS certified which means we're fully compliant and verified in our standards of information security management.