Purchasing card alternative
PEX offers an easy to implement expense management solution with all the control that most midsize or small businesses need without the complex setup that comes with purchasing cards. With PEX, employees receive reloadable Visa prepaid cards, which you control on an individual basis from your desktop, smartphone, or tablet.
PEX helps your business
Add funds from your business checking account on the fly. Never worry about credit limits, finance charges, late fees, or card misuse.
- Contractors require an immediate way to get funds to their employees in the field – and then they need to closely manage their spending. Unlike most P Card programs, PEX enables the company owner or controller to add or remove funds from each card at a moment’s notice and move money from card to card when needed.
- Delivery companies require the ability to make purchases on behalf of their clients. PEX ensures that couriers can use their PEX Cards to make appropriate purchases, but they will be declined when attempting unauthorized transactions.
- Transportation companies need to provide drivers the ability to fuel up, maintain, and repair their vehicles. With PEX, the company’s finance or administrative managers can add funds instantly based on demand and determine spend rules (YES for gas, NO for restaurants) appropriate for the trip.
- Nonprofits utilize PEX to distribute funds to their volunteers and employees for day-to-day expenses. Many have turned to PEX because they simply don’t qualify for a large enough spend limit from traditional purchasing cards.
How the PEX solution works
- Employee Management: Distribute PEX Cards, set each cardholder’s required balance amount, and add and remove funds as needed.
- Cash Management: Track transactions in real time as purchases are made. Funds are removed immediately upon use, so you’ll always know your balance.
- Balances: Set your desired amount from $10 to $25,000. Add and remove funds for any reason, at any time, from your browser, smartphone, or tablet.
- Spend Category Limits: Set each card to spend only in selected categories. It’s as easy as clicking yes to gas, and no to restaurants.
- Easy to use Tools: Using your browser, mobile app, or tablet, you can add and take away funds on every card instantly.
How PEX improves processes & efficiency
- Unlike P Cards, there’s no creditor involved with PEX. Never worry about a spending limit that’s too small for your company’s needs.
- PEX is easy to set up and intuitive to use. Within a few days, your employees will have cards and your admin will set up card funding and rules. There’s no lengthy integration or training required.
- Because of PEX’s spending control tools, organizations report spending an average 15% less per month on employee expenses.
Try PEX Today
Get a smarter financial solution for your business or organization.