Purchasing Card

A procurement card is a charge card that gives employees streamlined purchasing power, and finance (and management) teams full control of all spending in real time. It drastically removes purchasing friction and gives employees a feeling of trust & ownership, helping them to be more accountable and effective in their work.

Purchasing cards are very similar to corporate cards. They can be either physical or virtual, and they allow the holder to spend company money strictly according to pre-established spend policies (spending caps, monthly limits, restrictions for specific services & goods).

The key differences between these two tools is the level of flexibility and customization on one hand, and the level of control for companies on the other. Corporate cards offer little of either, while purchasing cards are designed to maximize both.

P-cards are widely accepted among vendors. They let suppliers benefit from faster receipt of payment, particularly where they would normally rely on invoices. Companies can buy more easily, which means suppliers get paid faster.

Accepting P-cards offers a competitive advantage over competing suppliers that rely on old fashioned payment methods.

Any company payment carries potential risks. But compared with corporate cards or traditional purchase orders, P-cards offer far higher visibility over what’s spent by individuals and the company at large. Every transaction is clearly tracked and associated with the correct employee - unlike the company credit card. And because employees have the funds they need immediately, there’s a far lower risk of expense fraud.

Spendesk Mastercards are protected against fraud by Mastercard’s Zero Liability Protection. Have peace of mind knowing Zero Liability applies to your purchases made in-store, over the phone, online, or via a mobile device, as well as all ATM transactions.

Learn more about Zero Liability Protection.