How Does It Work

Step 1
Each member of staff who incurs business expenses will be provided with a personalised prepaid MasterCard® card. Cards can be requested by an administrator using our web portal or CorporatePay can issue batches of cards if required.

Step 2
When a card is requested the user is sent (by email or SMS) activation and security details. The unique CorporatePay account number (on the bottom of the card) is used to identify the customer for all channels (web, IVR, contact centre etc). Each card is activated via a call to the IVR services which at the same time notifies the cardholder of their PIN for use at ATM's and with point of sale transactions.

Step 3
The company transfers funds, any amount and any chosen frequency (daily, weekly, monthly or ad hoc), to our Client Account (managed by Newcastle Building Society and held at Barclays Bank). Funds available to the administrator for allocation are updated daily, and transfer times depend on the bank transfer method used.

Step 4
The company administrator can now control how much money is available on each card in real time and increase (subject to available unallocated funds in the account) or reduce (subject to the unallocated balance on the card) this at any time. Funds pulled back from a card go back into the account and can be used immediately to transfer to other cards if needed

Step 5
Employees use the funds in line with your expense policy and track expenditure using our web portal, contact centre, IVR and SMS services.

Step 6
Throughout the period, the company can monitor spending and reduce, increase and re-allocate funds as appropriate. Parameter-based rules monitor for specific behaviour like unused funds, rapid spend and potential fraud, and to maintain preset limits like minimum available to spend. If additional funds are required by an employee these can be transferred to the card immediately.