Business prepaid cards for employee expenses
Business prepaid cards from Volopay come with a real-time tracking feature that lets you track expenses and reconcile your account in seconds. With access to company funds, your employees will no longer have to worry about making business purchases.
Trusted by finance teams at startups to enterprises.
Prepaid cards with built-in spending limits
Volopay business prepaid cards come with built-in spend limits that help prevent employees from spending over the allowed limits.
Employers and managers can load funds onto the prepaid cards according to the department or project need. Recurring reload limits can be set up, along with customizable reload frequencies, thereby making sure that budget planning remains compliant and goes as planned.
Custom controls to manage spends
With custom controls to restrict expenses, there is no chance of overspending. However, if employees need to exceed their spending limit, they can do so by requesting additional funds on their prepaid card.
The request for additional funds goes through an approval system where assigned approvers can greenlight necessary card reloads.
Real-time expense tracking
Volopay prepaid cards are integrated with our expense management system, allowing company admins and card owners to track each expense made in real time. Merchant sliders will help you see how much is spent on specific merchants through a card.
With a Volopay card, every transaction is instantaneously logged on the system under the card ledger. This ensures complete transparency and constant visibility of spending.
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Advanced security
In addition to custom spend limit controls, Volopay prepaid business cards also comes with features like temporary freezing or permanent blocking.
In situations of lost or stolen card, you can immediately freeze or permanently block the card using Volopay web or mobile app.
Easy to load and withdraw money
Load money into each card in a matter of seconds. An admin or approved manager can effortlessly load money into the prepaid card through our platform to fast-track last-minute payments. Employees can also use ATMs to withdraw money if needed.
Convenient and safer business transactions
Not only are they easy to issue but business prepaid cards also offer a convenient and secure way to handle employee expenses.
These cards function similarly to debit cards but with the added benefit of controlling and managing budgets effectively. Since these cards are prepaid in nature and there is only a fixed amount in it, you can be sure that there will be no overspending.
Control and manage budgets
With business prepaid cards, companies can allocate specific budgets for each employee, department, or project. This helps prevent overspending, as transactions are limited to the available balance on the card.
By setting predefined spending limits, businesses can maintain tighter financial control. This kind of control is not possible when using credit cards or debit cards as there might be mishaps that lead to spending more than what was originally planned.
Supports multi-currency transactions
For businesses engaged in international activities, multi-currency support is crucial. Business prepaid cards can handle transactions in different currencies, eliminating the need for currency conversion fees and simplifying global business operations.
You might be dealing with international vendors and suppliers. To make payments to them without incurring high currency conversion costs, you can use prepaid cards.
Easy accounting of card expenses
The expenses made through your prepaid cards can easily be exported to your accounting system through the integration features on Volopay. This allows for seamless syncing of data between both platforms.
You can divide an expense into multiple line items if needed and also set up rules and advanced rules that help in syncing data as per your accounting needs.
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 businesses should get a prepaid card?
Business prepaid cards are a must for employees who are required to travel a lot for their work. They can make use of prepaid cards to manage their travel expenses including airfare, hotel and rental car expenses.
Volopay cards are an excellent method to manage employee expense on things like entertainment and food. While maintaining the company's control over overall expenditure, prepaid cards gives employees the freedom to make their own spending decisions.
Business prepaid cards make it easy for operations team to purchase and procure the needed raw materials for production. This ensures faster business operations without any interruptions due to fund unavailability.
Volopay prepaid cards are a great replacement for petty cash. Prepaid cards ensure complete transparency to all transactions and eliminate the possibility of money loss.
Almost all businesses have online payments such as software subscriptions, office supplies, and marketing expenses to be made. Prepaid cards make it simple to pay and manage all of these expenses.
Prepaid cards are also great for any type of one-time purchases such as employee festival gifts and office maintenance expenses, etc. These cards make it simple to pay a vendor for their services.
Why do startups and enterprises choose Volopay prepaid cards?
1. Prepaid card security
Each card with security features like card freezing and blocking ensures that in case it’s stolen or lost, your funds will be safe.
2. Superior support
To help with onboarding and account setup, a customer success representative will be assigned for every business who are eligible to onboard with Volopay.
3. Unlimited virtual cards
To manage all online expenses, you can create a unlimited number of virtual business prepaid cards on the platform.
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 single platform that combines approvals, corporate cards, bill payments, cost reimbursements, and accounting automation into one. All of these can be accessed at any time from any device.
Real-time expense reporting
Create a system for tracking expenditures that allows you to know where, when, and why each item was purchased.
Custom filters can be used to produce reports that only reveal information that is important to analysis and data collection. Forecasting and preventative financial decisions can now be made much more quickly.
Multi-level approvals
There are five levels of approval to ensure that no transaction is missed or goes against business policy.
All fund requests are routed to the business policy and approval algorithms in order to handle all employee spending and payments.
Accounting automation
Accounting automation has improved. Our system integrates with the world's most popular account software, allowing you to sync your data in real-time.
With tools like Xero, Quickbooks, Netsuite, Deskera, and others, you can plug and play your spending from card swipe to closed books.
Explore more about business prepaid cards
Check out our comprehensive guide to choosing the right prepaid card solution for seamless financial management in your business.
Explore the benefits of virtual prepaid cards, its working and how to get one for your business in Singapore.
Virtual cards can help enterprises in expense management, procurement, corporate gifting, managing marketing and advertising expenses.
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FAQs on physical cards
Yes, you can get prepaid business debit cards for your business depending on the provider. Many banks, financial institutions, and FinTech firms offer this facility to their customers.
A business prepaid card is essentially a form of debit card where you create an account with the card provider and top up the balance of the card each month to use. Company owners often create multiple business debit cards for employees to carry out their operational expenses.
Yes, if you have a Volopay account, you can apply for physical cards. To order physical cards, go to your dashboard's physical cards section and click "Order." You will be asked to supply information for the employee who will be receiving the physical card.
A unique approval policy, spend limit, or custom reload limit can be applied to all physical cards. You can set this restriction when you first set up the card. You can also designate who is responsible for approving any requests from employees to change this restriction.
The general ledger is updated in real time with all card expenses. A payment is recorded as soon as it is paid. You can utilise the ledger filters to specify particular filters if you want to review the spending of a specific card.
Yes, all Volopay cards can be used to make overseas purchases. You can give these cards to any travelling personnel without worrying about the hassles of international remittance. You may also use the cards on an international vendor's or site's gateway.
Xero, Deskera, Netsuite, and Quickbooks can all be integrated natively. We also offer MYOB and Talenox-specific export options. If you use a different accounting software, you can create an export template for your card ledger, export the files, and import them into your software without having to manually alter any data.
Employee debit cards and business debit cards both function exactly like a normal debit card. So yes, business debit cards are limited to the balance that is available in the bank account linked to it.