The card is issued in the name of the company and not any individual. Hence, the liability lies on the company. Eligibility is checked using CMR score (CIBIL MSME Rank which is a credit information report for companies) and not individual CIBIL score. Separate cards for business travels, operational expenses (like forex fees, vendor payments, and so on) and other business expenses (ads, subscriptions,and so on). Negotiator service (by Razorpay) for additional savings on subscriptions and purchases. Access card details from bank dashboard. Option to lock card and set card limits. Option to use Add-on Cards , set sub-limits and delegate spending to different teams (for example, finance,marketing, and so on) from a single credit card account without giving your card to anyone.

No dependency on OTP on personal device or personal credit score. Convenient payment methods for employees. Better visibility and clarity on business spends. No need to use personal credit card for business expenses. Segregate personal and business related spends on cards. No collateral required (for Unsecured Cards). No joining or annual fees and low forex fee (2.5%). Real savings on spends - up to 30% discount on 500 software tools and cashback on SaaS, marketing and cloud. Unlimited add-on cards at zero cost.

RazorpayX Corporate Cards

Razorpay Corporate Cards system is an expense management mechanism for an organisation. They offer a range of benefits that help you streamline your business spends and reconcile expenditure seamlessly.

Corporate Cards are issued to business entities for the use of their employees to manage approved business expenses.
They provide accountability and control over expenses of an employee for business purposes, enable businesses to manage their expenses better and make reconciliation easier.

Handy Tips

Razorpay Corporate Cards are currently offered in partnership with Yes Bank and RBL. You can view the issued card details in the respective bank dashboards.

Types and Uses of Corporate Cards

Handy Tips

Razorpay Corporate Cards are available as Master Cards.

Features

The card is issued in the name of the company and not any individual. Hence, the liability lies on the company.
Eligibility is checked using CMR score (CIBIL MSME Rank which is a credit information report for companies) and not individual CIBIL score.
Separate cards for business travels, operational expenses (like forex fees, vendor payments, and so on) and other business expenses (ads, subscriptions,and so on).
Negotiator service (by Razorpay) for additional savings on subscriptions and purchases.
Access card details from bank dashboard.
Option to lock card and set card limits.
Option to use
Add-on Cards
, set sub-limits and delegate spending to different teams (for example, finance,marketing, and so on) from a single credit card account without giving your card to anyone.

Advantages

No dependency on OTP on personal device or personal credit score.
Convenient payment methods for employees.
Better visibility and clarity on business spends.
No need to use personal credit card for business expenses. Segregate personal and business related spends on cards.
No collateral required (for Unsecured Cards).
No joining or annual fees and low forex fee (2.5%).
Real savings on spends - up to 30% discount on 500 software tools and cashback on SaaS, marketing and cloud.
Unlimited add-on cards at zero cost.

Secured and Unsecured Cards

There are 2 categories of Corporate Cards - Secured and Unsecured. Unsecured Cards are applicable for businesses that meet the unsecured criteria (business vintage and financials, for example). For businesses that do not meet the unsecured criteria or wish to build a credit history, RazorpayX offers a Secured Card backed by a Fixed Deposit (FD).

Backed by fixed deposits and do not require any of the other criteria to be met.
Suitable and recommended for entities failing to meet the criteria for Unsecured Cards by partner banks.
Available for any registered entity (including trust, proprietorship, partnership and society).
The deposit is lien-marked against the Corporate Card.
Corporate Card for a maximum of 90% of deposit amount can be sanctioned.
- Minimum deposit required is 7 lakhs, which is negotiable up to 5 lakhs. The deposit will earn interest as per prevailing bank norms.

Watch Out!

Premature closure of the lien-marked FD is not permitted while the card is active, though partial withdrawals may be allowed subject to the credit limit, as per the norms by the partner bank.

Know more about the eligibility criteria and onboarding process of

RBL Bank

and

Yes Bank

Get Started

Log in to your
RazorpayX Dashboard
.
Click Corporate Cards on the left navigation to go to the Corporate Cards home page.
Click Sign up Today.
You will be redirected to a
request form
where you are required to fill in the relevant information.
Click Submit. Our support team will get in touch with you soon.

Get an Add-on Card

To get an Add-on Card:

Log in to your
RazorpayX Dashboard
.
Navigate to Corporate Credit Card on the left menu.
Under Corporate Cards → Summary, navigate to + Get an Add-on Card.
1. Here, you can request the Add-on Card for a new team member with the role and also assign the credit limit.
2. The new team member receives an email to complete individual KYC.
3. Once their KYC is updated, they get access to the Dashboard as per their role.
4. The user also gets a virtual card and a prompt to confirm the address for card delivery. Post that, they get their physical card in a few days.

Use Cases

Some of the use cases that are addressed with the Razorpay Corporate Cards are:

Start-ups

Use Razorpay Corporate Cards for all operational and marketing expenses.
Save working capital to scale up the company without having to worry about investing in technology infrastructure.
Lock or limit card usage based on usage.
No more reconciliation hassles and reimbursement work.
Employees' personal funds are not blocked.

Partnerships and Large Companies

The top management can allocate cards for various departments with fixed limits.
Department heads (or designated approvers) can further grant add-on cards with sub-limits to different sections.
Unused Add-on Card limit can remain in the floating balance and be allocated to other add-on cards.
Use options to lock or limit card usage based on usage.
Have more control over expenses and keep them within budget.

Proprietary Firms

Segregate personal and business spends.
Easier accounts and finance management.
Control expenditure by setting limits for card(s).
Use Add-on Card to delegate expenditure with lesser personal interventions or approvals for each spend.

Default User Roles

Billing and Repayment

Generation of statements and repayments work as usual with one single card. The credit account is the same for all cards, so repayment for all cards happens in just one bill.
Primary account holders (Owner/Admin) can control which Add-on Card user can manage repayment automatically or manually.