(Photo : CardMapr.nl / Unsplash)

What is Payment Card Issuance Software?

Tracking business-related spending can be a daunting task. As your business grows, the different aspects of each expenditure you must track will become increasingly complex.

This is where payment card issuance software comes into play. Payment card issuance software allows companies and other organizations to create cards for their employees to use. These can take either a virtual or physical form. These software make tracking business expenses easy. However, there are many companies to choose from that offer many critical features.

Here are the five best payment card issuance software of 2023.

1. Wallester

Wallester is a payment card issuance software company that stands out among the rest. It is one of the only systems that offer cloud-based card-issuing solutions. This allows cards to be easily assigned directly to individuals who need to make different company expenditures.

Furthermore,  Wallester Business's in-house built platform allows for more effective spend management and API.

Back in 2019, Wallester Business became an official Visa Partner and FinTech Fast Track Member. This ensures that clients have direct access to the Visa offerings that are the most beneficial to the growth of their corporation. Clients have the ability to issue an unlimited number of cards to their employees. What is great, companies can issue 300 virtual cards for absolutely no cost, there is no fee on the account top up, card service and transactions. Each card can be easily personalized, setting specific credit limits for specific transactions, programs, and more for the individual necessities of the cardholder.

Each card can be easily monitored through an intuitive dashboard. This real-time organization saves clients time on monotonous financial tasks that would otherwise take time away from the business at hand. The dashboard provided by Wallester Business allows companies to access information about corporate expenses across different merchants. Now, business expenses can be quickly calculated and categorized while allowing business owners to retain control and understanding over their finances.

Wallester strives to help its clients cut expenses wherever possible. By using Wallester salary cards and depositing the payments directly to employee cards with no extra fee, the costs of monthly salary payments will be substantially decreased. Cards can be used by marketing teams,  by employees attending conferences, for small and big corporate expenses like domains, subscriptions, office needs, etc. As corporate cards for traditional banks are often offered at a very high cost, Wallester Business stands out as a more affordable solution.

Customer service is a key tenant of Wallester's business model. Personalized cards are issued quickly and efficiently. Their virtual and physical cards work worldwide, allowing for minimal confusion when making company purchases. Wallester Business alleviates the stress of complex financial organization, providing an asset to any company. For more information about Wallester and its different programs, read more about them here.

2. Pleo

Another competitive payment card issuance software is Pleo. Pleo is a London-based company that offers smart business expense cards to help companies make their book-keeping process as painless and effortless as possible. They have been trusted by over 25,000 different companies around the world.

Individual spending limits can be set for each card, ensuring that employees get cards specific to their jobs' requirements. They work with MasterCard, which helps bolster the safety and effectiveness of the card. These cards are offered both physically and virtually. They are issued easily through the site and offer benefits, including 1% cashback every time a Pleo card is used for purchase.

Furthermore, Pleo prides itself on its easy-to-use interface and security. Cards can be canceled, frozen, or ordered with very little hassle. All spending on the cards can be monitored easily through an intuitive dashboard. This allows business owners to remain entirely in control of their finances while simultaneously alleviating any extraneous organizational issues.

All of this important information is readily protected. They are certified by the Payment Card Industry Data Security Standard. This helps ensure clients that their money and data are well protected.

3. Marqueta

Marqueta is another payment card issuing software that stands out among the rest. This platform prides itself on both the speed and efficiency with which it can fulfill a company's card issuing, organizational, and financial needs. Both physical and virtual cards can be issued very quickly.

This includes debit cards, credit cards, prepaid cards, virtual cards, and digital wallets & tokenization. Issuing cards through Marqueta is more cost-effective than using checks. Furthermore, there is a zero balance on prepaid cards. This allows the cash flow in a client's business to flow more easily.

They utilize a unique, open API platform that allows Marqueta to offer on-demand delivery, digital banking, online services, SME lending, insurance, expense management, and more. This allows companies to launch programs far more quickly than they otherwise would have been able to.

This payment card issuance company is dedicated to bringing businesses into the future. While the cards can be issued very quickly, this does not imply a lack of personalization. Each card can be customized with personalized rewards and credit lines.

Information critical to an organization is easily accessible. All payments include critical data points, including the location, the vendor, and more. These pieces of information make it far easier to monitor the overarching financial structure of a given business.

4. Stripe Issuing

Through the intuitive software offered by Stripe Issuing, commercial organizations can efficiently launch and organize various aspects of their company's financial infrastructure. Through their easy-to-use platform, clients can quickly create a card program that is both flexible and specific to the company's needs.

Regardless of the business size, an individualized program can be launched in days. Through the use of their specific API, the card program, once built, allows companies to quickly distribute cards to necessary employees.

Each of these cards will be created with the specific ramifications set by the client. This is offered without any startup fees, making Stripe Issuing a cost-effective program.

Stripe Issuing wants to encourage company growth. They allow clients to design a card program that can grow with the company. If a client reaches a certain transaction threshold, businesses using Stripe Issuing will be able to start collecting some of the revenue earned by different card purchases.

Furthermore, by using Stripe to move money, clients can circumvent transfer delays, ensuring that funds are where they need to be, with the immediacy of when they need to be there.

While Stripe Issuing takes more time to set up than an immediate card issuance, their dedication to building a system that works in a still short amount of time makes it an effective platform for companies.

5. Payhawk

Payhawk is a globally relevant payment card issuance company. They operate in 32 different countries, offering company-personalized solutions that build for businesses the foundation to grow quickly and efficiently.

Through Payhawk, clients can quickly order smart corporate credit cards. The entire account can be set up in less than twenty minutes, and in setting up the account, clients are not required at any point to spend time manually uploading data.

Much like the other payment card issuance companies, individual card spending rules can be set quickly, allowing for a comprehensive overview and maximized control over company expenditures.

Payhawk maximizes both control and efficiency. Their unique software allows 80% of manual financial processes to be automated, saving companies time and effort. This will enable clients to focus on other, more necessary elements of their growing business.

The financial dashboard that Payhawk offers for its clients is easy to use anywhere. There is an online portal for Payhawk that can be transferred easily to the app. This means that no matter where the client is, they can conduct important business instantaneously from their smart device. Their platform makes it easy for companies to organize and understand their finances.

All in All

Payment card issuance software is the financial must-have of the future. Companies are no longer wasting time on tedious organizational activities that can be automated. They want instantaneous solutions to problems, simplifying processes that can be simplified. This allows the time and energy of the employees to be spent on the real tasks at hand.

Investing in payment card issuance software is an investment. The world continues its upward trend toward increasingly helpful automated solutions. This software will give any company the foundation it needs to grow faster and more efficiently in a global sphere.