Purchase Card

The ICICI Bank Purchase Card is a card based payment solution that streamlines and effectively controls procurement processes of corporates. Purchase card can be used for expenses like Travel & Entertainment (T&E), Telecommunications, MRO, Office products, Professional services & Utility payments. A credit limit is assigned to the corporate on the card and the corporate can thereafter use the card for making payments to all vendors & suppliers. The corporate gets a credit period of up to 50 days and can thereafter repay ICICI Bank as per the billing due date. And ICICI Bank Purchase card can be used on any VISA or MasterCard Network.

Purchase card can be used for all Indirect Expenses that an organization would be incurring. These expenses can be routed through the Purchase Card for extracting maximum benefits from the solution. Mentioned below are some of the indirect expenditures that an organization incurs

Given below is a Purchase Category Scenario in a typical business entity

Along with the purchasing solution, ICICI Bank & VISA offer a reporting solution called VIS (Visa Information Source). VIS allows expense reporting, data management features, accounting system integration and cost allocation. The objective of this solution is to provide a comprehensive, online resource that makes tracking and managing spending more streamlined and simple.

Primary benefits of VIS:

1) Reports to control & reduce procurement expenses

2) Ability to restrict access

• By user, hierarchy, company, bank
• Flexible reporting at all levels of organization

3) Cost allocation tools for improved project/business unit management