Published on 3 Jan 2020
What is the Benefit.X Corporate Credit Card?
Benefit.X is the best corporate card for SMEs. It lowers the barriers to entry for SMEs in their application for corporate credit. SMEs can enjoy instant approvals, integrated expense management and attractive benefits.
Benefit.X also simplifies businesses budgeting by syncing the business expenditures with claims, payroll and procurement in one smart Credit Card within an integrated mobile platform. So you can use Benefit.X Corporate Credit Card to pay for all business expenses, ranging from physical stores, online and even overseas.
Small Businesses are having a hard time getting a credit line from the banks due to their traditional and rigid underwriting procedures. Therefore, most business owners are issued with cheque books and debit cards. Employees, on the other hand, rely on their personal credit cards for business expenses and make a claim afterwards.
The Benefit.X Corporate Card is the first in Singapore to offer Small Businesses with Corporate Credit through our proprietary credit scoring engine.
How it works?
Benefit.X offers a cutting-edge portal and mobile application for everything a small business needs for their operations, these ranges from human resource management to budget management.
After setting up a Benefit.X account and clearing the KYC, the small businesses can be granted a Credit Limit up to 10 times based on their deposit placed. This credit limit is dependent on a proprietary credit scoring engine developed by Hearti Lab.
- Corporate Credit Card – Employees no longer have to use their personal credit cards for business expenses. The company is able to have a more effective budgeting and expense management by distributing the credit limit among the employees’ Benefit.X Corporate Credit Card.
- High Credit Limit – Your company can be granted up to 10 times credit limit based on your deposits.
- Smart Claims Submission – Payment made by your employees will be tracked, categorized and auto-generated as a claim for their designated manager’s approval. You can set the approval rules using your own parameters.
- Intelligent Fraud Protection – Our Credit Scoring engine uses meaningful data from various sources before assigning the credit limit to the companies. Real-time alerts and card locking features available at your fingertips so you can better understand your spending and avoid defaults.
- Save when you spend abroad – When using your bank cards abroad, most banks add up to 5% currency exchange fee or markup exchange rates. Eliminate those fees with Benefit.X and get access to the market rate for currency exchange +1%. No hidden fees and no top-up.
- A bookkeeper in your pocket – Benefit.X makes bookkeeping effortless. All designated business expenditure is instantly categorized and can be synced/sent to your internal systems, together with digitized receipts. Furthermore, we even let you set up monthly budgets for all types of spending or category.
Our co-branded corporate credit card will be launched in 1st half of 2020. And Bizsquare will start issuing the cards to interested clients thereafter. Cardholders will be able to enjoy existing consultation services of Bizsquare and tap on the Visa/MasterCard network available from the card.
There are no annual fees or administrative charges for the credit cards.¹ Only a monthly card fee applies. As Bizsquare clients, you get card fee waiver for all new sign-ups in 2020. So hurry and sign-up your interest for the card now!
Sign up with us here >>> https://sgsmeloans.com.sg/our-services/bizsquare-corporate-card/
¹ Credit card late fees and credit card interest fees applies