Deutsche Bank Launches Corporate Prepaid Card in Europe
Deutsche Bank has launched the DB corporate prepaid card, a pre-funded payment card, which it is promoting as providing a more convenient corporate payment method replacing cash, cheques and vouchers. The card is available to clients across the European Economic Area (EEA) for global use wherever MasterCard is accepted.
Developed in conjunction with Cards Prepaid, a European programme manager specialising in the design and delivery of prepaid card solutions, the new card is a pre-funded debit card that can be used for in-store and online purchases where MasterCard is accepted. As a result, clients are able to make payments to staff, customers and suppliers in an electronic format, a more secure and efficient process than traditional, paper-based payment methods.
Deutsche Bank adde that the DB corporate prepaid card will allow clients to set their own controls with respect to card acceptance, frequency of use, and available funds. Clients will also be able to analyse detailed, real-time data reports delivered through Deutsche Bank’s card manager web tool. This data can be used to evaluate cardholder spending behaviour and company purchasing patterns, providing greater insight into transaction volumes with individual suppliers, and subsequently enable more informed negotiation.
“Our clients are under growing pressure to optimise shrinking budgets, and this innovative cash management solution was built to address their need to substantially cut costs, replace antiquated processes and utilise real-time data to company benefit,” said Andrew Reid, co-head of cash management corporates Europe, the Middle East and Africa (EMEA), at Deutsche Bank
“The [new card] offers clients greater transparency, flexibility and control over expenses – and we have seen tremendous interest in the solution across a broad range of sectors.”