Business these days is tight—maybe tighter than ever before. Sometimes, the distance between the top and bottom lines seems impossibly close. When every penny counts, business owners can’t afford surprises. Today’s technology for expense management is incredibly advanced and includes a variety of solutions such as mobile apps that scan receipts and allow for online transaction monitoring in real time. But all these innovations have one major limitation: managers only see expenses after the money is already spent. To genuinely manage spending, mangers need a tool that limits spending before it happens rather than a tool that simply records spending after the fact. The solution: MyChoice prepaid debit cards from WaveCrest.
Prepaid debit cards give managers control over spending before it happens. With prepaid cards, employees can’t spend more than they are allocated. The concept is brilliantly simple: managers preload a card with the necessary funds via an online transfer that takes merely seconds. The funds are immediately available to the employee for use anywhere major credit and debit cards are accepted or at ATMs around the world. Once the card is empty, the employee can’t spend anymore. Just like that, end-of-month surprises are gone.
In addition to tighter spending control, prepaid debit cards offer a number of other benefits as well. First, funds are available immediately to card holders, no matter where they are in the world. There is no waiting for banks to open, transfers to process, or checks to arrive in the mail. Second, cardholders do not need a bank account or a credit check to get a card; a card can quickly be issued to anyone at anytime. Third, businesses can track and manage cards and spending using online reporting tools. With prepaid cards, it’s easy to see who is spending what where. Fourth, prepaid cards are safe and secure. Issuers and users enjoy fraud protection, and, if anything should go wrong, managers and cardholders have access to 24/7 support via phone or online chat. And, finally, prepaid cards save money. Not only is it easier to manage spending, but transaction costs for distributing funds via prepaid cards are low. For example, it is much less expensive in manpower and fees to do an online funds transfer than it is to issue a check or process a bank transfer. With all these benefits, it’s no surprise that the use of prepaid cards in the corporate sector is steadily on the rise.
While using prepaid cards to manage employees’ spending is one of the most obvious uses for prepaid cards, businesses are discovering that a prepaid debit card solution offers a multitude of other possibilities. Prepaid cards are ideal for a number of business purposes, including the following:
Prepaid debit card solutions from WaveCrest are what businesses need to widen the distance between the top and bottom lines. Using prepaid cards adds a layer of transparency to employee spending and allows managers to control spending before it happens. Prepaid cards are a cost-effective solution to the hassles of day-to-day expense management and the complexities of managing other types of business payments. Prepaid cards are increasingly the way business gets done. For tight control, total transparency, low transaction costs, and ease of use, nothing beats prepaid cards. For superior control, choose prepaid card solutions from MyChoice.