ANB launches prepaid petty cash card.
ANB announces the launch of Cash Express, the first prepaid petty cash card in the Kingdom. Cash Express allows customers to replace their existing cash-based petty cash handling methods, with a secure and efficient electronic card-based payment option. Cash Express cards offer businesses benefits in controlling and monitoring their petty cash related expenses. All spending activity on Cash Express cards can be viewed on ANB's corporate electronic banking channel and can be easily replenished through standing instructions based on preset replenishment limits or through individual replenishments using the bank's electronic channels. Additionally, refunds from any remaining balances on Cash Express cards can be processed at any time as per instructions received from the company. Nizar Al-Twaijiri, deputy head of corporate bank at ANB commented: "We are proud to offer this innovative payment solution that transforms traditional petty cash payments into a modern electronic prepaid card-based payment offering. Cash Express uses the latest technology for making purchases on the local POS network or withdrawing cash at any ATM in the market place. It also facilitates expense management and considerably eliminates the risks and costs associated with carrying cash or keeping cash on business premises." "Designated company employees receive reloadable prepaid cards, enabling company's expense control department to exactly know how much and where spend is taking place through Cash Express card," he said. Cash Express is the best solution for handling petty cash expenses for all companies no matter which business segment or industry they are operating under, he added.
Copyright: Arab News [c] 2015 All rights reserved. Provided by SyndiGate Media Inc. ( Syndigate.info ).