For solo entrepreneurship and small businesses, the use of a regular credit card or even cash might be a sufficient strategy. However, the larger the scale of your development and, therefore, performance, the more advanced means you require to operate properly and to the full extent possible. Taking into account the ever-increasing frequency of purchase-making, it becomes an inevitable mission to level up your payment tools.
That’s where you get acquainted with the option of corporate and expense cards. These terms might appear confusing for beginner users. So distinguishing the difference between them if any will significantly boost your understanding of what financial means to select for your business. Let’s get it started!
What You Should Know About Corporate Expense Cards?
As you can see, these descriptions can be used altogether and mean the same — a payment card that is designed and issued for your staff specifically, letting you keep track of your employee’s spending on an everyday basis. In many ways though, getting accustomed to its performance won’t be troublesome. It has several in-common features with personal credit cards.
The use of corporate cards for your business will be the right decision if you are interested in the following:
- obtaining rewards for new transactions and purchases
- premium support and business accounting services
- personalized tools for improved invoice management
- getting access to a corporate line of credit
- more control and protection over your corporate expenses
Before choosing the right service, you have to analyze your business capacity and needs. A lot depends on the number of employees you have and whether you need separate expense cards for each of them — the related fees for their operation might be too high in that case. At the same time, you should consider foreign exchange rates and whether you will be going to use such cards abroad. Anyway, centralized access to your corporate spending with a receipt-storage function will streamline and simplify your expense management.
Achieve Your Goals with Credible Card Issuers
Depending on what service provider you rely on, the list of accessible incentives and use conditions can significantly vary. However, there is no need to search for traditional representatives of the market — there are numerous great alternatives to standard banks.
When it comes to Wallester, you can customize and automate your spending history for maximum benefits:
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- Whether you are up for corporate or expense cards, you can simply order them online and personalize them with Wallester Business. You can also create a free account and sign in with your mobile phone number, email address, etc., to get access to an intuitive interface with detailed information about your incoming and outgoing transactions.
- It is a highway to streamlining your payments and monitoring any purchases done. You can simply upload photos of receipts to add them to your business database on Wallester Business or check other invoices from online transactions, which are automatically transferred and analyzed by the system. This way, your business can drastically improve its expense management strategy and overall performance.
Final Thoughts
Corporate cards from reputable card issuers like Wallester Business result in more control over your transactions and more opportunities to track them faster and utilize fewer human resources. It is also a wonderful and credible solution to deliver more convenient payment option for your employees and manage working capital in real-time mode without difficulty.
FAQs
Are corporate cards suitable for payments abroad?
A lot depends on what union of a card issuer and network you choose. In the case of Wallester, you will be able to pay for goods and services in every country where Visa is accepted — in more than two hundred territories and countries around the world.
Are corporate cards the same as business cards?
You shouldn’t confuse these terms either. They are different in terms of how benefits, usage, costs, and liability work for their end users. Despite the fact that companies of all scales can go for business cards, their alternative is a better financial instrument for still expanding and bigger organizations. However, the main distinguishing feature lies in how their debt and fees are operated. With business cards, the personal responsibility lies on the primary cardholder. On the contrary, the company itself will be considered liable for solving any issues and accountable for financial obligations.