Auditing Company Card Transactions with Corporate Prepaid Cards

In order to keep costs in line and compete in a down economy, expenses must be managed. You need to know what how much is being spent and what it’s being spent on in order to see where costs can be cut. You also want to audit transactions periodically in order to avoid over-spending or fraud.
A company credit card can be an easy way to let employees pay for expenses, but it can also be a target for fraud, since purchases can be made without approval and only discovered after the fact. If a former employee has an active card, it can be an issue. Fortunately, auditing transactions and other steps to prevent misuse are made much easier through the use of a prepaid card.
With a prepaid credit card, fraud is less likely to occur in the first place. Funds can be added to the card as needed. PEX Card even lets you set allowable spending by category. And if fraud does occur, it can be spotted quickly. This is because transactions can be viewed in real time and monthly reports are easy to obtain. So formal audits can be done as frequently as desired or they can even be ongoing as purchases are recorded in the system.

Toffer Grant is PEX's Founder and CEO. He founded PEX in 2006 as a prepaid card solution for small businesses. His background in the prepaid industry began at Clarity Payment Solutions, where he initiated 65 prepaid card programs in consumer, corporate, and emerging verticals of the prepaid card industry. 

Shot of smart business people working with plans while talking of their new design business in the office

5 AI Tools to Supercharge Your Back-Office Productivity Today

Businesswoman is talking about new project in the meeting room. Her team is sitting around a table and listening their manager carrefully.

Proactive Workforce Spend Management

Cheerful and smiling young successful female businesswoman standing with colleague looking at smartphone in modern office and coworking space

Introducing Text to PEX, Auto-Enforcer, and 3 More New Features for March

Stay up to date on the latest PEX news!

Opinions, advice, services, or other information or content expressed or contributed here by customers, users, or others, are those of the respective author(s) or contributor(s) and do not necessarily state or reflect those of The Bancorp Bank, N.A. (“Bank”). Bank is not responsible for the accuracy of any content provided by author(s) or contributor(s).