Have you received a company card from your employer and are wondering what you can pay for with it? Or maybe you are a business owner and intend to generate an individual payment tool, but don't know in what situations he could use it? A company card, such as Sparados, can be designed to pay for specific services, for use when traveling, as well as for everyday use. Find out what specifically can be paid for with it.
What are the types of corporate cards?
In Sparados application you can generate different corporate cards depending on the occasion.
These can include:
lunch card — is designed to pay for meals. You can put a limit on it for a single transaction, as well as allow payment at all caterers. Such a card will work well as part of a modern team incentive system;
a bonus or gift card — an employee can use it in any way he chooses, such as for shopping at a clothing or grocery store, or even at the gym or cinema. He can also withdraw cash at an ATM of his choice. The employer only determines the maximum amount a team member can use. At the same time, bonus or gift cards are assigned to a separate account. This way, the administrator knows that the funds on the mentioned account are allocated for any purpose. So, the employer does not have to check whether the employee has properly used the donated money. This provides team member a sense of security and privacy;
subscription card — this card can only be used to pay for recurring payments, such as for a subscription to a graphics program or for a license to use online tools. It will work well if the employee regularly uses online programs, but not only, at work. With a virtual means of payment, the employer does not have to renew their subscriptions himself. He can delegate this task to a team member, which greatly improves the management of the company;
one-time card — is designed to be used only for one selected purpose, such as paying for a conference or training.Thanks to the fact that a strict limit can be set on the card, the employee will not spend more than he should. Such a means of payment will be removed from the system after one use. This reduces the risk that the employee will use it again without the employer's knowledge.
The administrator of the corporate panel can give a name or assign a category to each of the above created cards in Sparados. Personalized card naming or categorization brings order to the employee's and the employer's virtual wallet. This way, the team member knows exactly what he or she can use the chosen means of payment for.
Can a company card be used to pay for purchases?
Virtual company cards must be used for their intended purpose. So, for example, business travel funds can only be used during a trip to pay for travel or accommodation.
However, you can generate a card for general business purposes. Such payment tool is very useful in so-called sub-emergency situations. Then there is no need to take money out of the company's cash register - it is enough to generate a virtual card in the Sparados system, so that the employee can use it to settle an urgent expense, such as for a coffee bill at a business meeting, for work equipment, for an urgent printing of documents or for receiving a package from a courier.
At the same time, it is worth remembering that each use of the Sparados virtual card is recorded in the system. This allows the employer to conveniently check whether the employee used the means of payment as intended.
Company cards can be used for various reasons. Their purpose is strictly defined by the employer. This gives the entrepreneur full control over the funds transferred to the employee.
