Paystand is debuting its Zero Card, a touchless, prepaid B2B corporate expense card for mid-market businesses.
Employees can use the card to securely make purchases online and over the phone and it works the same way as a physical card except it requires no credit checks and businesses can issue or deactivate the 16-digit card numbers. The card can be created in bulk if necessary, according to a press release.
The Zero Card disburses funds and streamline invoice processing, expense reporting, and payment execution. The card also allows businesses to manage, track, and control company spending in real-time, and leverages the company’s zero-fee payment network to eliminate the cost of transaction fees. To reduce the risk of fraud, the card has fraud prevention controls that manage spend by category, team and merchant code.
“The Zero Card combines the consumer-like experience of peer-to-peer payments with the speed and security of Paystand’s no-fee payment network,” Jeremy Almond, Paystand CEO, said in the release. “We completely re-engineered the corporate card so businesses can move away from reactive spend management tactics to a place where they have visibility of spend before it happens.”
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