What are Commercial Prepaid Cards?

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commercial prepaid cardsWith a commercial prepaid card one can pay bills, make purchases on goods, and also different type of purchased online. Customers using prepaid card have access to cash at all time provided there is enough balance maintained on the card.

Visa prepaid cards can be used on all places where Visa cards are accepted. One can also withdraw cash from ATM accepting Visa cards.

Security

Security is another big advantage of using prepaid cards as large amount of cash does not have to be carried around everywhere. If the card is lost it cannot be misused and it needs the right credentials to use the cash in it. Cards can also be safely replaced when it is reported as lost.

Managing Prepaid Card

Card management is much easier as it can be tracked real time online. All loads and expenditures can be tracked online making card management at any place easy and comfortable. Prepaid card offers more for small business than just the ease of managing the card online.

Control Employee Spending

A big advantage of using prepaid card for small business is the ability to control employee spending. Approval of business credit cards requires credit validation so that the owner is held responsible for the repayment if the business fails.

A rogue employee using a credit card can play havoc on the company cash flow management with irresponsible spending causing huge setback to cash flow. With a prepaid card the spending limit can be easily controlled with only the required amount loaded on to the card depending on the task a employee is assigned.

Affordability

Affordability is another main factor when considering prepaid card for small business. Many companies do not charge monthly service fees or ATM withdrawal fees which makes using prepaid cards very affordable.

Conclusion

Small business market is now more open to prepaid cards as there are specific benefits over debit and credit cards. The ability to manage spending is one of the main factor that is driving SME owners to consider prepaid card for their business.

With cards making end-to-end transactions more easy and secure over paper-based checks the task of accounting process can also be made more efficient with the ability to track all transactions and maintaining history online the future of prepaid card looks promising indeed.

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