How to Choose a Corporate Card Provider for Your Business

How to Choose a Corporate Card Provider for Your Business

Imagine empowered employees making purchases with ease, clear expense tracking for your finance team, and valuable insights into your spending habits. Corporate cards offer this reality, but choosing the right program can be tricky – what features truly matter for your business? 

This short guide cuts through the confusion, outlining the key features to consider so you can select the perfect corporate card program and unlock a world of streamlined expenses and empowered teams.

Key Features to Consider When Choosing a Corporate Card Provider

Choosing a corporate card provider isn't a one-size-fits-all situation. The ideal program will depend on your company's size, spending habits, and desired level of control. Here are some key features to consider when making your selection:

1. Card Options

Not all corporate cards are created equal. Look for a provider that offers a variety of card options to cater to different needs. This might include physical cards for everyday purchases, virtual cards for online transactions, and single-use cards for specific vendors or travel.

2. Spending Controls and Limits

Empower your finance team with the ability to set spending limits and controls for each card. This could involve setting limits on specific categories (e.g., no more than $50 per meal), restricting purchases to certain vendors, or requiring pre-approval for larger transactions.

3. Rewards and Rebates

Let's face it, everyone loves a good reward. Some corporate card providers offer rewards programs that can benefit your business. This could include cash back on purchases, points redeemable for travel or merchandise, or discounts with specific vendors.

4. Expense Management Tools

Look beyond the plastic! A good corporate card program should be integrated with robust expense management tools. This will allow employees to easily submit receipts electronically, categorize expenses on the go, and generate reports for streamlined reconciliation.

5. Real-Time Transaction Tracking

Gain peace of mind with real-time transaction tracking. This allows you to monitor spending activity as it happens, identify potential issues early on, and ensure your employees are staying within their budgets.

6. Security Features

Security is paramount. Choose a provider that offers robust security features to protect your company's financial data. This could include multi-factor authentication for card activation and transactions, fraud detection and prevention tools, and chip-and-PIN technology for added security.

7. Customer Service

Let's face it, even the best programs encounter hiccups. Opt for a provider with a responsive and knowledgeable customer service team to address any questions or concerns you or your employees might have.

8. Integration with Existing Systems

A seamless integration with your existing accounting software or payroll system can save your finance team a ton of time and headaches.

9. Fees and Rates

Don't get blindsided by hidden fees! Be sure to compare annual fees, foreign transaction fees, late payment fees, and interest rates before making your decision. While some providers offer cards with no annual fees, they might have higher interest rates or transaction fees.

Graph Corporate Cards: The Only Corporate Card Solution You Need

Graph Corporate Cards are meticulously designed to address the challenges businesses face when making and tracking payments for business expenses. Here's how they empower your team and simplify your financial processes:

  • Unlimited Cards: Issue as many virtual cards as you need for streamlined spending and eliminate the need for personal funds and reimbursements.
  • Centralized Control: Maintain complete oversight with a user-friendly platform for real-time tracking of business payments and the ability to freeze, unfreeze, and decommission cards.
  • Effortless Tracking: Say goodbye to manual reconciliation. Automatic reporting from a single source simplifies tracking business payments for all departments.
  • Advanced Security: Protect your company's finances with 3D Secure technology that safeguards against unauthorized spending.
  • Digital Wallet Convenience: Enable secure and faster online and in-store payments through integration with Apple Pay and Google Pay.
  • Worldwide Acceptance: Make payments with Visa-powered cards accepted by millions of vendors globally.

Choose Graph Corporate Cards for the best features. Sign up to get started!