If you are a contractor and work with subcontractors, it can be very helpful for you to use a business prepaid card service. A card can be issued when a subcontractor comes on board and deactivated when the job is done. This gives the subcontractor the ability to make supply purchases with money put on the card, so purchasing doesn’t require you to go to the store or go through a reimbursement process.
Using prepaid cards also allows you to work with subcontractors on a temporary project and close the card when it wraps up. And where a regular credit card or charge card might be abused by a temporary employee or subcontractor, a prepaid card has restrictions that will help prevent potential fraud. With both flexibility and accountability, business prepaid cards can make working with subcontractors run more smoothly.
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.