Physical Corporate Card
What is a Physical Corporate Card?
A physical corporate card is a tangible payment card provided by a company to employees for business-related expenses. Unlike personal credit cards, it is linked directly to the company account, allowing controlled spending and real-time tracking of transactions.
Corporate cards help eliminate reimbursements by covering travel, lodging, meals, and office expenses upfront. Many cards include integrated expense management tools, spending limits, merchant restrictions, and fraud protection, making them a secure and efficient way to manage corporate expenses.
Examples Of Physical Corporate Card Usage
1.
Travel Bookings
A Business Traveler Uses The Corporate Card To Book A Hotel And Rental Car For A Conference.
2.
Client Entertainment
An Employee Pays For A Client Dinner Using The Company-Issued Corporate Card Instead Of Requesting Reimbursement.
3.
Office Supplies
A Sales Executive Purchases Office Supplies With The Corporate Card, And The Expense Is Automatically Logged In The Company System.
Frequently Asked Questions About Physical Corporate Card
1.
What is the difference between a physical and virtual corporate card?
A physical corporate card is a tangible card for in-person and online transactions, while a virtual corporate card exists digitally and is mainly used for online purchases.
2.
Can employees use a corporate card for personal expenses?
No, corporate cards are strictly for business-related transactions. Unauthorized personal use can result in policy violations and potential penalties.
3.
What happens if an employee loses their corporate card?
The employee must report the loss immediately so the company can freeze the card and issue a replacement to prevent fraud.
4.
Are corporate card expenses tax-deductible?
Yes, legitimate business expenses paid via corporate cards are typically tax-deductible for the company.