Instant-issue prepaid cards are non-personalised cards that are held in secure inventory by the corporate, and can be issued in a controlled manner to employees and payees as required. These cards are convenient in many corporate scenarios across a wide variety of industry sectors.
As an example, in sectors such as education, students sometimes need to be paid hardship funds. In this case, emergency funds can be delivered immediately on an instant-issue prepaid card. In other sectors such as clinical trials, patients can be given a prepaid card that has been loaded with funds immediately following their appointment, to reimburse their travel costs and cover any stipend obligations.
For general corporate expense management, instant-issue prepaid cards offer a great alternative to corporate credit cards, particularly for employees incurring corporate expenses infrequently, or for sundry expense items as an alternative to petty cash.
“Instant-issue corporate prepaid cards deliver several key benefits for both businesses and cardholders alike” states Bill Crowley, Vice President of Product Development at hyperWALLET Systems Inc. “We believe both parties will see substantial value in the immediate payments convenience they offer, and in the enhanced financial management control they provide.”
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