Business prepaid cards for employee expenses
Business prepaid cards from Volopay with real-time tracking feature 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.
Volopay business prepaid cards comes with built-in spend limits that help prevent employees from spending over the allowed limits.
Employers can load funds onto the prepaid cards for an entire year and set limits for monthly usage, thereby making sure that the budget is distributed equally throughout the year.
With custom control to restrict out of budget expenses, there is no chance that there will be overspending.
However, if situations where employees have to exceed their spending limit, they can do so without any difficulty by requesting additional funds on their prepaid card.
The request for the funds to be added goes through an approval system where the employee’s approving manager is responsible for approving the request.
Volopay prepaid cards are integrated with our expense management system which allows company admins and card owners to track all the expense made in real-time.
With a Volopay card, every transaction that occurs is instantaneously logged on the system under the card ledger, ensuring complete transparency and constant visibility of spending.
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.
Load money into each card in a matter of seconds. Finance team member, admin or any person who is responsible for handling the finance can effortlessly load money into the prepaid card through our platform.
Employees can also use the ATMs to withdraw money if needed.
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.
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.
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.
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.
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.
Each card with security features like card freezing and blocking ensures that in case it’s stolen or lost, your funds will be safe.
To help with onboarding and account setup, a customer success representative will be assigned for every business who are eligible to onboard with Volopay.
To manage all online expenses, you can create a unlimited number of virtual business prepaid cards on the platform.
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.
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.
Established in 2020, Volopay has already expanded to four markets including Singapore, Australia, India, and Indonesia.
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.
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.
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.
Get a rapid credit line for your day-to-day business expenses without having to jump through the hoops that a regular business loan requires.
Instead, use the credit line, which is put onto corporate cards and available to all of your staff. With flexible payment periods and cheaper rates, you can start spending more efficiently.
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 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.
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.