Shifting consumer priorities have pushed corporates to rethink their strategy regarding credit cards. The coronavirus pandemic has only added to their challenges.
As more workplaces embrace remote work, non-traditional forms of payment have seen a steep rise.
In 2022, India topped the world ranking in digital payments. The country processed 70 billion digital payment transactions, up from 44 billion in 2021. Given the current trend, this number will continue to rise in the coming years.
The newest expenditure management innovation, prepaid cards, are packed with the most cutting-edge features. A virtual credit card with instant approval can be used for anything from small business payments to large corporate bills.
Using an EnKash Corporate Credit Card can help your company become more innovative and forward-thinking by reducing its reliance on cash. However, EnKash cards need not be the only option.
As you explore this article further, you will learn about these corporate credit cards and a deep dive into the EnKash corporate card alternatives, reviews, features, and more.
Quick Read: A Complete Guide to Corporate Credit Card
Why look for alternatives to EnKash corporate cards?
EnKash is a commercial payments platform in the B2B space. It has grown threefold in valuation since March 2022. However, its growth does not mean increased effectiveness and usage. For example, it does not support the US Dollar cards, is incompatible with Gpay and ApplePay, and is incapable of initiating overseas transfers.
This is why you need to look at EnKash competitors that best cater to your needs. You will beat the competition only if you provide your partners with something unique.
Here are some more reasons why you need to look beyond EnKash Corporate Cards:
- EnKash has no option to choose virtual cards for merchant locking
- There’s no mobile app for both Android and iOS.
- You cannot make international transactions or set up recurring payments on EnKash. This is a considerable downside, especially if you are an Indian company with a global outlook.
- There’s very limited integration with third-party tools
To compete in today’s market, you must accept a wide array of payment methods. Customers appreciate the convenience of a wide choice of payment methods.
Must Read: 5 Best corporate credit card in India
Comparative table of EnKash corporate card and competitors
Quickbooks, Tally, SAP, Oracle, Microsoft Dynamics NAV, and iON
Joining fee: 0; Card fee: 0; Annual fee: 0
Segment, Zoho, Freshworks, Twilio, and Exotel
Card fee: 0; Annual fee: 0
Freshworks, Hubspot, Segment, and AWS Activate
Joining fee applicable
INFORMATION NOT AVAILABLE
Ranges between $55-395
HTML5, jQuery, and Google Analytics
Starts at Rs.500
Why is Happay EPIC card the best alternative to EnKash?
When it comes to managing money, Happay has you covered with its full array of fintech solutions. B2B payments become easy and quick with the EPIC Corporate Credit Card. It is a secured credit card specifically designed for business expenses. It also has a portal designed specifically for mobile devices, the EPIC Payment Solution.
Business owners can quickly and easily sign up for Happay EPIC with minimal documentation. Your application will be processed within a few hours. The EPIC Card dashboard gives a bird’s-eye view of all your spending and payments in real-time, along with detailed information on each expenditure.
Happay EPIC card is compatible with your existing third-party accounting and financing tools. When combined with them, it provides full visibility into company expenditures. Employees need not worry about the time-consuming procedure of claiming reimbursements at all. With the Happay EPIC card, the reimbursement process is eliminated, and cards are automatically reconciled based on the account statements.
With Happay, funds are more efficiently distributed to workers, groups, and projects using predetermined card limits. Subscription management, cloud-based payments, and regular spending can all be automated. In addition, virtual cards make your payment credentials, transaction information, and card information more secure.
Happay EPIC has upgraded its spend management capabilities to include electronic funds transfer to suppliers’ bank accounts. Happay EPIC’s unified payment solution simplifies all payments, increases cash flow, and improves working capital with powerful analytics and actionable insights.
Suggested Read: Top 10 Corporate Credit Card Benefits
5 Best EnKash alternatives and competitors
1. Happay EPIC card
The Happay EPIC Card is a payment and financial management platform that provides companies with collateral-free credit limits, equips employees with physical and digital cards, stops wasteful spending, and boosts transparency by connecting to other financial apps. Both individuals and groups can utilize it without having to wade through mountains of paperwork or wait endlessly.
- Advanced AI-powered budget management tools
- The ability to view both global and local data on one dashboard
- Mobile apps for Android and iOS provide you convenient access anywhere, anytime
- ISO 27001, PCI DSS, and SSL encryption of 256 bits
- Lockable virtual cards that work at any store
- Spending analysis tools and individualized reports
- Instantaneous help for customers with advanced chatbot functions
- Card locking/unlocking switch that can be toggled on/off
- Limits can be placed on cards for use in keeping track of spending
- Up to 45 days of interest-free credit
- Approximate savings between 12 and 14 percent
- A greater credit limit based on current monthly usage
- Improved efficiency of cross-border payments with no added FX markup
- Cash rewards instead of complicated point systems
- Automatic account balancing and less fraudulent spending
- Integrated ERP system for improved efficiency and precision
- Alert on reaching card limit
2. Kodo Corporate Card
Kodo corporate card simplifies and streamlines business costs by providing comprehensive expense management. The Kodo Card gives the finance department complete insight and control over all company spending through a centralized interface. As a result, finance and administration can better optimize their cash flow if they have a clear insight into the overall spending.
- Cards with spending caps
- Possibility to disable and enable card use
- Tags you create yourself to organize purchases
- Automated expense reports
- Capability to handle cross-border transactions
- Attractive cashback
- Send overdue receipt reminders with only one click
- Multiple virtual cards per user for finer spending limits per subscription
- Employees can have multiple cards
- Automatic receipt tracking and management
- Granular spending caps
- Simple international money transfers
- Extra bonuses and cashback offers
- Cost-free EMIs for significant expenses
- Low-performing mobile app
- Shortcomings in customer service features
- There is no feature to lock down merchants
- Forex markup of 2.25%+GST
Also, Read: 5 Best Kodo Alternatives and Competitors
3. Karbon Corporate Card
Karbon corporate card provides corporate cards and other payment alternatives without the stress of endless paperwork. In addition, the corporate card offered by Karbon allows for real-time monitoring and tracking of spending, with the option to filter payments by merchants, category, or data.
The management can effectively monitor expenses thanks to the dashboard’s clear visualization. The corporation and its employees have easy access to precise details about spending. Admins can raise or lower the spending cap on any card or account.
- Creating an account takes less than a minute
- No hidden fees or costs are ever applied to your account when you sign up or use the financial services
- You can deposit, withdraw, or wire funds from your cash management account
- Complete control over employee expenses
- Intuitive dashboards for monitoring and managing all monetary transactions
- Your entire online and offline purchases will earn you a cashback bonus without any limits
- ISO-certified and PCI DSS compliant
- Cashback and merchant discounts
- Credit restrictions that can be adjusted with ease
- Syncing and uploading WhatsApp receipts automatically
- Shortcomings in customer service features
- A steep markup on currency exchange of 1.5%+GST
Future Read: 5 Best Karbon Alternatives and Competitors
4. Americal Express corporate credit cards
With a corporate credit card from American Express, you can set upfront spending limitations and repay only approved business purchases. They are helpful for substantiating business dealings and meeting tax requirements. It has three different offerings.
a. American Express corporate green card
b. American Express corporate gold card
c. American Express corporate platinum card
- Track every single transaction that occurs on Corporate Cards
- Manage employee expenditures
- Earn Membership Reward Points
- Use sector-specific knowledge to your advantage and save money at work
- Spending can be controlled by setting individual budget caps for staff
- Automatic real-time alerts for anomalous employee spending
- Faster filing process
- Cardmembers get to choose from a variety of redemption choices, such as gift certificates, the exchange of points for travel rewards like airline miles or hotel stays, or the use of points to offset the cost of existing card charges
- Insurance for unforeseen circumstances during business trips and insurance against accidents
- Access to all domestic airport lounges at a discounted rate
- Professional help is available when needed, which is a huge time saver
- The high spending limit is made possible by online tools for managing expenses
- If a lost card is reported within three business days, the cardholder will not be responsible for any fraudulent charges made on the card
- Higher merchant fees
- American Express isn’t accepted at all stores
Quick Read: A Guide to Corporate travel program
5. SBI corporate credit card
Each SBI Corporate Credit Card is tailored to the specific requirements of each individual business. Travel, utility, corporate purchase, and virtual usage are just a few SBI Corporate Credit Card features. There are two variations in the corporate cards.
a. SBI Signature corporate card
b. SBI Platinum corporate card
- Limit access to unauthorized Retailer categories
- Greater safety is provided for financial transactions worldwide with chip and PIN technology
- Priority service
- Free insurance coverage
- Elite Concierge Assistance
- informational Dashboard for Quick Glances
- Send and receive alerts about your transactions and credit limit in real time by email and text message
- Universal acceptance
- Spend management software allows you to monitor and manage your business’s financial outlays
- Smarter expense management
- Layered Methods of Managing Expenditures
- Service Desk Executives and Relationship Managers to help you out when you need it
- The SBI Signature Corporate Card provides worldwide access to emergency funds
- Includes usage fee
Suggested Read: 5 Best Razorpayx Alternatives for Corporate Card
How to choose the best EnKash corporate card alternative?
It is crucial for businesses to decide which card would best suit their needs. Here are the important things to consider before choosing any EnKash corporate card alternative:
1. Better credit limit
Corporate credit cards give businesses a greater credit capacity than personal and business credit cards. Businesses can increase their buying power and manage their cash flow better with the help of a line of credit.
Some corporate cards offer more credit limits and lines than others. For instance, Happay EPIC card offers higher credit limits than most regular bank cards.
Suggested Read: How To Increase the Corporate Credit Card Limit?
2. Better visibility
Corporate cards issued to businesses provide real-time visibility into spending, complete with live updates, thanks to integrated spend management platform. Pay attention to the visibility that the corporate cards you plan to pick offer. Companies can effectively control their corporate spending by utilizing actionable insights.
3. Enhanced security
Corporate Card alternatives must include stringent security measures, such as encryption and conformity with industry standards. Locking and blocking capabilities are built into these cards to provide an extra degree of protection. Ensure that the card you prefer offers the best security features.
4. Other benefits
Better foreign exchange benefits and savings, discount and reward offers, and unique deals from vendors all add up to more benefits when you switch to other alternatives.
Make sure the corporate cards you choose offer features that give you real-time insights into payables and expenses with live updates through integrated spend management software. Through such insights, businesses can keep their budgets under closer supervision.
EnKash cards offer your company automation with a centralized system for controlling and monitoring company spending. This streamlined system provides your company with features required to process and disperse payments to vendors, employees, and other parties and also accept any receivables.
EnKash business cards allow you to issue any kind of virtual corporate card and use a wide variety of payment methods, making it easy to keep track of your company’s finances as well as accounts payable.
EnKash corporate card pricing – fees and charges
Regarding EnKash pricing, you must contact the company to get a quote, as the prices are unavailable. However, based on an agreement between your organization and the company, EnKash may charge a service fee (which may be flat, monthly, or annual), set-up fees, maintenance charges, or any other fees.
EnKash corporate card reviews
EnKash has become well-known among B2B organizations. However, businesses need to weigh the benefits of EnKash with its competitors. For example, EnKash does not support the use of Android and iOS operating systems.
Choose a corporate credit card that provides a line of credit with a flexible credit limit and a simple onboarding process. When appropriately utilized, these payments increase your company’s purchasing power and decrease its cash-out period.
Additionally, keep in mind that the card you choose should conveniently monitor and manage your company’s expenses in one place. For example, a dashboard that allows you to track expenditures, analyze credit card spend by person, division, or vendor. Consider all the above features and choose your EnKash corporate card alternative wisely.
EnKash is a corporate credit card that gives you more control over your spending in real-time. It offers better access and faster reconciliation.
Enkash platform helps your company with features needed to receive, process, and disperse payments to vendors, employees, and other parties.
Here are a few good EnKash card alternatives:
1. Happay EPIC Card
2. Karbon Corporate Card
3. Kodo Corporate Card
4. American Express Corporate Card
5. SBI Corporate Card
Corporate credit cards are issued by large corporations to their employees. Your employee can use this card to pay for approved business expenses, expense management, get real-time insights, and easy transactions.
In order to better monitor business costs, several companies issue corporate credit cards to their staff. Business credit cards are different from corporate credit cards because they are typically issued to sole proprietors, independent contractors, and business employees.
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