What is pcard?

PCard, short for "Procurement Card," is a payment card that is typically issued by a company or organization to its employees for making purchases related to business expenses. PCard programs are designed to streamline the procurement process, reduce paperwork, and provide more control and transparency over spending.

PCards function similarly to credit cards, but with specific restrictions and controls set by the issuing organization. These restrictions may include spending limits, merchant category restrictions, and purchase authorization requirements. PCards are typically used for purchasing goods and services, travel expenses, and other business-related expenses.

One of the key benefits of using a PCard is the ability to track and monitor expenses in real-time, allowing for better budget management and compliance with corporate policies. Additionally, PCards can help organizations negotiate better pricing with suppliers and save time on administrative tasks related to payment processing.

Overall, PCard programs can help improve efficiency, control costs, and streamline the procurement process for businesses and organizations.