What is a pcard?

A pcard, short for procurement card, is a form of payment used by organizations to make purchases for goods and services. It works similarly to a credit card, but is specifically designed for business transactions and typically has more restrictions and controls in place.

Organizations issue pcards to designated employees who are authorized to make purchases on behalf of the company. Pcards can only be used for approved purchases and are often restricted to certain vendors or categories of items.

Pcard transactions are usually tracked and monitored closely by the organization, with detailed reports provided to management for review. This helps ensure that all purchases are appropriate and in line with the organization's spending policies.

Overall, pcards can be a convenient and efficient way for organizations to make purchases, streamline the procurement process, and control spending. However, proper oversight and controls are crucial to prevent misuse or fraud.