The use of prepaid Maestro cards has many advantages for organizations. Just like normal debit cards you can pay contactless and withdraw cash at ATMs. A key benefit is that the cards are not directly connected to your company’s bank account. And you’ll never pay any overdraft fees.
With some Maestro cards, like the ones from SimpledCard, you can also facilitate online payments. This is thanks to the e-Maestro functionality. It works just like a credit card payment. When you choose this payment method, you enter the 16-digit card number of the Maestro card. You complete it with the expiry date and the CVC code on the back of the card. And it’s as easy as that.
This unique payment method is suitable for organizations across different industries. Connect the cards to an expense tracking system and you can manage your business spend process centrally. In the next chapters, we elaborate on the financial challenges around business expenses in three specific sectors.
Expense management can be a significant bottleneck in an organization. When not properly implemented, it can result in operational inefficiencies. This prevents the workforce from operating at its best level.
Most expense management software does not provide an integrated way to facilitate payments. On the other hand, most payment methods lead to unnecessary time spent during the claim and justification processes.
Having an expense management software provider that offers integrated prepaid Maestro cards allows you to optimize your expense management workflow. And empower your teams.
Business payment solutions like SimpledCard allow organizations to distribute re-loadable Maestro cards to their employees. You can easily set spending rules and limits for each employee, office location or department.
This allows you as a finance manager to have direct control and real-time insight into expenses across the organization.