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Business prepaid cards transform corporate travel

22nd December 2010 Print

In a global marketplace, corporate travel is a necessary and sometimes costly business expense. However, current economic conditions throughout the world mean that this expenditure needs to be scrutinised very carefully in order to produce a cost-effective return on investment.

One method which can enable this is the use of business prepaid cards. Organisations can issue prepaid cards to employees and contractors to use while travelling for work. Cards can be used in a variety of situations, such as for purchasing items, paying for expenses and settling travel costs.

With no interest charges and competitive transaction fees, prepaid cards can offer good savings when compared to corporate credit cards. Most prepaid cards offer highly competitive exchange rates and some providers can even issue cards in different currencies, such as the Euro and US Dollar. For small-to-medium-sized businesses, this presents a considerable saving when conducting business internationally. For those who travel regularly, it mitigates the need to carry a variety of currencies and pay costly fees in the conversion process.

Prepaid cards also offer extra peace of mind, as there are no links to your business bank account. Smaller amounts of cash need to be carried by employees, reducing risk to the company and its workers. However, if more money is required, it can be quickly and simply added to the card at over 12,500 locations throughout the UK or via a bank transfer.

Prepaid cards can be issued quickly and demonstrate real flexibility when delivering fast and reliable purchasing power. Acceptance for a prepaid card is guaranteed* as no credit checks take place. Many cards carry the MasterCard logo enabling workers to use the card at millions of retailers worldwide or wherever the MasterCard acceptance mark is displayed.

When it comes to delivering purchasing power around the globe, MasterCard prepaid cards offer a safe and reliable form of payment. Funds can be easily controlled, cards can be issued quickly and the costly transaction fees of standard corporate credit cards can be reduced. In a climate of efficiencies and spending reviews, prepaid business cards are transforming corporate travel.

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*Subject to the card issuer’s terms and conditions