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Purchasing Card
Welcome to the world of Purchasing Cards from HSBC. This program offers you with a unique payment mechanism that enables you to carry out your procurement transactions through a cost effective yet controlled process. With the HSBC Purchasing Cards you can now pay Etisalat, Dewa and e-government bills online with a click of a mouse! The Purchasing Card from HSBC offers you an easy way to pay for your high volume, low value procurement expenses.
And effectively manage the payment of all of your business expenses by controlling and tracking company spending whilst also reducing administrative costs.
Convenience
Accepted at over 26 million locations worldwide
Extended Interest Free Credit Period
HSBC Purchasing Card now offers an extended the Interest-Free Credit Period of up to 58 days (from 53 previously) to better assist you with your working capital requirements. As an HSBC P Cardholder make full use of these Cards to make payments of: electricity and telephone bills, stationary, IT equipment, courier and others
Corporate Liability Waiver Insurance*
Experience indicates that employees' intentional misuse of Corporate Card privileges is very rare. However, to protect you against any such losses, we offer free insurance for greater security and flexibility in meeting your business needs
Reduced Costs and Increased Control
The HSBC Purchasing Card can help you eliminate all the unnecessary procedures involved in a purchase transaction; from submitting the purchase order to paying the invoice, a typical purchase request involves a large investment of time and effort from many people
Simplified Process
- Your employees use the Purchasing Card for expenses
- HSBC pays each merchant within 48 hours of the transaction
- Monthly bill for all purchases made on the Card is sent to the Company
- Single payment for the monthly due to the Bank
Powerful Authorisation Controls
- Protection against misuse or fraud
- Limit spending as per individual Cardholder's needs
- Set up spending limit per transaction basis
- Restrict Card acceptance to specific merchant categories to suit your business requirements, e.g you can block access to cash, purchase of jewellery, gambling and casino websites
Consolidated Billing and Flexible Terms
Consolidated billing means you will make only one payment, by cheque or direct debit, for all the purchases that are made in a month. You can elect to have your Purchasing Card billing cycle close at the beginning, middle or end of each month. This is just one of the many ways HSBC can help you to customize your Purchasing Card billing and settlement to suit your business needs
Comprehensive Management Reporting
The Purchasing Card provides you with standard paper reports/statements and the option of selecting an electronic reporting tool
Standard Paper Reporting
- A Summary and Individual statement with detailed transaction information, which provides you with accurate information for expense management and reconciliation purposes
- Allows reconciliation of accounts payable and/or general ledger systems
Electronic Reporting
Management Information is the key to analyse and control your business expenditure that can be labour intensive and time consuming
With the HSBC web based online expense management system - Smart Data OnLine (SDOL) you can also streamline your reconciliation process that would enable you to:
- Review transaction history for each of your Cardholders 24 hours a day anywhere in the world via the Internet
- Update expense description and cost allocate your transactions
Click here for more information on SDOL.
Assistance in Planning
Implementing your Card correctly is the key to success. Representatives from HSBC will assist you in planning the implementation of everything from Card issuance and Card limits to reporting requirements.
24-Hour Customer Service
To ensure that as a valued Corporate Customer you are always our priority. HSBC Purchasing Cards have a dedicated 24 hour customer contact centre. From simple queries to giving instructions, our dedicated staff is always there to assist you.
*Insurance is arranged by HSBC Insurance Brokers Ltd
