Barclaycard has launched a new online platform for companies to issue virtual corporate cards and manage spending through a mobile app.
The new offering - Barclaycard Precisionpay Go - enables employees to create their own cards or request cards to be issued to them via their mobile phone.Designed for a new era of remote working, staff can use the cards to make business payments instantly, without needing to go into the office or be at their desk.
The cards can be issued for just the amount required, and for a specified period of time, while spend controls can be added to manage user activity on a daily basis.
Marc Pettican, president, Barclaycard Payments, says: “As the world becomes more digital, so too must payment processes. The pandemic has reinvented the way businesses operate, with remote working now the norm for millions of staff across the UK. Yet, many firms still use outdated systems that rely on paper-based reimbursement which is hugely time-consuming and often frustrating to use too.”
Precisionpay Go supports GBP, USD and EUR currencies, and is exclusively available with Visa. Currently, virtual cards generated through Precisionpay Go can be used on e-commerce transactions only, with approval dependent on financial circumstances and borrowing history.