- Eliminates the delay and cost of traditional purchase transactions.
- Enables effective control to track and manage spending.
- Automates purchase process for easy account management.
- Key Features
- Authority is granted by the bank to designated employees of corporates for official purchases through the card.
- Customizable product - The Purchase card can be restricted at
* The Merchant Category Code (MCC) level
* The HDFC Bank's EDC terminal / Payment Gateway level
- The Purchase card can be issued in the name of an Individual / Corporate.
- Business Benefits
- Reduces transaction processing time, cost of high volume and low value transactions for the Corporate.
- Streamlines the payment process and enables account management control.
- Reduces the cost of goods by consolidating the supplier base and negotiating more favorable pricing from preferred suppliers.
- Minimizes risks associated with fraud, forgery and theft through a secure, totally mechanized card program.
- Provides online expense management solutions - minimizing paperwork and simplifying reconciliation