Vasco Pay

Vasco Pay Prepaid is an expense management platform offered by Vasco Pay Pty Ltd. According to the vendor, it is designed to cater to the expense management needs of small to medium-sized businesses (SMBs) in various industries. The platform offers several key features that aim to streamline expense management processes.

Key Features

Business Prepaid Card: According to the vendor, this feature allows businesses to empower their employees with their own business prepaid cards. It eliminates the need for reimbursements, petty cash, employee-level KYC, and credit card sharing. The card is accepted worldwide, both online and in-store, and can be used with PayWave. Additionally, it provides access to ATMs wherever Visa is accepted. The spending can be controlled by setting limits to prevent exceeding the company budget. The cardholders' names can be customized, either using the company name or individual cardholders' names.

Expense Management: The Card Management Portal provides real-time visibility of all business expenses and cash flow, as claimed by the vendor. It offers easy access to end-of-month reporting, which helps save time on expense reconciliation. Card transaction reports can be generated with a simple click.

Incentives & Rewards: The vendor states that this feature enables businesses to implement incentives and rewards programs for their employees and contractors. It aims to enhance engagement and motivation while streamlining the distribution of rewards and eliminating manual processes.

Salary & Contractor Payments: According to the vendor, this feature facilitates salary and contractor payments through the Vasco Pay account. It provides employees and contractors with a convenient and secure payment method. Funds can be received within 1 business day from major banks or financial institutions.

Mobile App: The vendor claims that the mobile app allows users to check their balance and transactions on the go. It also provides access to popular mobile payment platforms such as Google Pay, Apple Pay, and Samsung Pay, enabling cardless purchases. Users can conveniently manage their business expenses and other spending through the app.

Max Accumulated Card Load: The vendor states that the Vasco Pay Prepaid card allows for a maximum accumulated card load of $150,000 AUD throughout the card's life.

Max Purchase Transaction Limit: According to the vendor, users can make purchases up to the available balance, with a maximum purchase transaction limit.

ATM Withdrawal Limit: The vendor claims that users can withdraw up to $1,000 AUD per day from ATMs using the Vasco Pay Prepaid card.

Max Card Balance: The vendor states that the card allows users to maintain a maximum card balance of $10,000 AUD at any given time.

Simple Pricing: The vendor offers a simple fee structure for the Vasco Pay Prepaid service. According to the vendor, there is a one-off card purchase fee of $10 AUD + GST per card. Additionally, a monthly fee of $7.50 AUD is charged. ATM withdrawals are subject to a fee of $0.75 AUD, and international FX transactions incur a 2% fee.