Barclaycard Payments has launched an online platform to power digital business payments via virtual cards.

The first phase of the Barclaycard Precisionpay Go will offer companies an online platform which allows them to issue virtual cards, powered by Visa, to employees for business payments online.

The app-based platform will be available to both new and existing Precisionpay customers and the platform will allow companies to issue virtual corporate cards and manage corporate spending through a mobile app, instead of online or via the traditional means of bank transfer.

Employees to create their own cards or request cards to be issued to them via their mobile phone, enabling staff to make business payments instantly, without needing to go into the office or be at their desk during this period of remote working.

The cards will be powered by Visa and can be issued for the exact amount required, and for a specified period of time, while spend controls can be added to manage user activity on a daily basis.

Barclaycard research showing that 63 per cent of employees are responsible for filing their own expenses. The Platform replaces systems that rely on manual processes, with a streamlined and user-friendly alternative that gives both employees and employers increased flexibility, Barclay said.

Precisionpay Go supports GBP, USD and EUR currencies, and is exclusively available with Visa

Marc Pettican, president at Barclaycard Payments said: “As the world becomes more digital, so too must payment processes. The pandemic has reinvented the way businesses operate, with remote working now the norm for millions of staff across the UK.

He added:“Yet, many firms still use outdated systems that rely on paper-based reimbursement which is hugely time-consuming and often frustrating to use too.”

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