Several Founders, Co-Founders, CXO Bankers, CXO Fintech professional & people who participated in the ePanel discussions:
- Mr. Kamonasish Aayush Mazumdar, Founder & CEO at Foodieverse
- Mr. Prabhanjan Dhotre, Director, Beehive Capital Advisors Pvt Ltd
- Mr. Ajay B Panicker, CEO & Founder, NetPay Limited
- Mr. Salil Chugh, Head Analytics and Data Partnerships, Experian Asia Pacific
- Mr. Prasad Likhite, Director Sales, ACI Worldwide
- Ms. Monica Jasuja, Head of Digital & Emerging Partnerships, Mastercard
- Vikas R Panditrao, Co-Founder, Forum of Industry and Academic Knowledge Sharing (FIAKS)
- Many other CEO/CXO Bankers & Fintech professionals on FIAKS Forum requested to remain anonymous
Have you heard about corporate credit cards? What are they? Corporate credit cards are issued to employees by the companies that let them charge their authorized business expenses for example hotel stays and travel tickets, etc without having to use cash or their personal card.
Following are the two types of corporate credit cards:
- Individual liability card: For this card, the employee is responsible for paying the credit card charges and later on get reimbursement from the employer after filing expenses report. The credit card issuer checks the credit score of the employee.
- Corporate liability card: In this type, the employer is responsible to pay the credit card bill for approved charges. Here the credit score of the employee is not checked but he has to ensure that regular expenses reports are filed for reconciliation of cards statement by the company each month. All big banks have corporate liability cards but require manual policy work at bank and client end and hence not a big portfolio.
- Few companies end up preferring Corporate liability card due to behavioral reasons and technical reasons. Behavioral reasons like when people spend from their pocket and then claim higher, chances are less that they will spend as per corporate policies. Technical reasons like API (Application Programming Integration which allows interaction between data, application, and devices) to clarify and simplify claims filing. Due to the above-mentioned behavioral reasons for corporate liability cards are being given to a limited set of senior people.
Isn’t it a big opportunity to tap leadership teams? Register and Read the complete discussions