Issue link: https://read.dmtmag.com/i/132118
Feature By Mike Noles, CMO of PEX Card 8 Reasons Business Prepaid Cards Trump Credit Cards and Fleet Cards Manage Driver Spending For Your Transportation Company M ost transportation businesses are uncomfortable giving standard business credit cards to their employees. Fleet cards are a good alternative for some, but many are restricted to fuel or limited to a specific fuel brand or less than universal network of stations. A business prepaid debit card changes the game because it provides the perfect mix of major credit card convenience along with the flexibility to limit or expand purchase capability at the driver level online and in real time. It's a new approach to managing day-today employee spending that, until now, was available only to the largest corporations. Unlike standard business credit cards, a prepaid debit card ensures employees never have direct access to the business credit line. Employers then do not have to worry about exceeding credit limits or getting hit with late fees, over-limit fees or interest charges. Here are eight reasons why your business should switch to prepaid cards. Reason No. 1: With a prepaid debit card program, managers can limit individual employee expenses by dollar amount and merchant category (for example, fuel, restaurants). Most business owners and managers would prefer to limit their drivers' expenses to fuel and maintenance. Standard business credit cards simply don't offer that level of control or flexibility. With a prepaid debit card program, administrators can limit purchases to fuel and specify just how much money is on the card. If unexpected expenses arise, prepaid debit cards enable companies to add money online in real time. Reason No. 2: Prepaid Business Debit Card programs offer more flexibility than fleet cards. Managers can lock down purchases to fuel as the default. However, for those situations where a driver needs to make authorized and sometimes emergency purchases in other categories, the firm's administrator can provide that capability instantly online through their computer or mobile device – and still limit the total amount of the unusual transaction. Reason No. 3: Employees using a prepaid debit business card don't have access to the company's credit / Owner operator/ June 2013 / / 16 OO 0613 edit.indd 16 5/8/13 8:34 AM