How to choose the best corporate card for your business

Corporate cards can make life easier for companies in all sorts of ways. They allow employees to spend money on necessary purchases without being left out of pocket and needing to be reimbursed. They also allow a greater degree of control and remove friction from the expense approval process. 

With the right corporate card program in place, managing company expenses can be quick, automated and transparent. The entire process, from approvals to reconciliation, can be completed with minimal effort, leaving employees with more time to get on with the work that really matters. In this article, we’ll outline the steps you should take before choosing a corporate card provider.  

Assess your expense management needs

Before you start looking through options, it’s a good idea to review the way that your company currently handles employee business expenses. Consider your company’s size, industry and the current level of expenses that are typically processed. What are the pain points and what are you looking for a corporate card to do?

For example, you may find that your finance team is overwhelmed by a manual expenses system with a fiddly approvals process, or that it’s taking too long for employees to have their out-of-pocket expenses reimbursed. You may be growing, and have aspirations to do more in terms of business travel and client entertainment. You may want to reign in out-of-control spending or empower employees to take more responsibility for buying the things they need to be productive.

Think about whether your business operates across borders or has ambitions to do so. If you plan to use your corporate cards abroad or to pay international vendors, a new layer of complexity is added thanks to the currency conversion and international transaction fees that some card providers charge. You may want to consider a corporate card program that specialises in cost-effective international transactions, such as Airwallex international business debit cards.

Research different types of corporate card

There is a lot of variation in the world of corporate cards: some are specifically tailored to certain purposes. For example:

• Credit cards: These offer short-term financing, which is useful in emergencies or when you want to pay off a large purchase over time. They can also come with rewards and improved fraud protection, however interest fees can be steep and there’s a danger of overspending.

• Debit cards: There are typically no fees associated with debit cards, you just pay directly from the funds you hold in your account. This can help with budgeting by discouraging excess spending.

• Prepaid cards: Unlike standard debit cards, prepaid cards are not attached to a business account and therefore require you to preload money onto each card before use.

• Virtual cards: These cards can be issued in moments, easily cancelled, and remove the likelihood of loss, theft or card fraud.

• Employee cards: Some card providers offer card programs that are specifically designed to help your business manage employee expenses. Cards can be issued to individual employees with customisable rules and spending limits. They may also come with inbuilt expense management that enables employees to upload photos of receipts, categorise expenses, and submit them to managers for approval.

• Company cards: Similar to employee cards, these cards are designed to help you keep track of company spending, but these are more closely related to procurement. This could include purchases such as software subscriptions, office supplies, supplier payments, and marketing expenses.

• Multi-currency cards: Allowing you to hold money in multiple currencies, these cards enable international spending as if you were a local.

In order to dig down and figure out which corporate card is best for your company’s expense management needs, you’ll need to weigh up the pros and cons of each.

What are the interest rates and fees?

It’s important to get into the fine print of what rates and fees are associated with the card you choose. Some providers charge a flat annual fee for corporate cards. Other charges can include international transaction fees, foreign exchange (FX) fees for purchases made in different currencies and, if you decide to use credit cards rather than debit cards or prepaid cards, potentially late payment fees. 

Does the card provider offer expense management tools?

Advanced expense-tracking tools can not only make the corporate expense process quicker and easier but also enable better financial strategy. Modern expense management tools include real-time spend tracking, customisable approval workflows, and integration with accounting software. These can reduce administrative labour and improve financial transparency as well as saving your team time and effort.

Does the card provider offer virtual cards?

Virtual cards help protect your business from fraud because, unlike physical cards, they cannot be lost or stolen. Virtual cards can be created and destroyed instantly, meaning you can assign cards for specific purposes, vendors or transactions, and even create single-use cards which expire as soon as a payment has been made. Virtual cards can be created with spending rules and transaction limits that ensure they’re only used for the right purpose, protecting your business from misuse and any accidental overspending. 

What are the protections for cardholders?

If your employees are dealing with large purchases and high transaction volumes, it is reassuring to know that there are measures in place if something goes wrong. Look into whether the corporate card you are considering comes with purchase protection, warranty coverage or fraud protection, and factor that into your ultimate decision. You may also consider the quality of customer support available when dealing with card issues or disputes. 

Is the corporate card widely accepted?

It’s an obvious question but may be overlooked. The credit or debit card provider you’re working with may be almost ubiquitous all over the world, or it may cause problems in certain locations. Think about where spending will take place and ensure the corporate card is widely accepted by vendors there.

Will the card help you scale?

When putting a new expense management system in place, you don’t just need to think about the present, but also the future of your company. If you have ambitions to scale up, consider how automating processes will help you achieve your goals, and whether your solutions will be appropriate if you expand across multiple countries. 

Airwallex Corporate Cards can help your business manage global expenses

Airwallex offers virtual and physical multi-currency debit cards with built-in expense management. Say goodbye to hidden fees on your international spending and move away from manual processes that distract your team from more important tasks.

Create virtual cards instantly for specific projects, vendors, or campaigns, then set spending limits and category restrictions to keep everything on track. Your team can snap receipt photos and categorise expenses as they happen through the built-in expense management platform, while finance gets real-time visibility across all spending.

For businesses working with international suppliers or managing travel across multiple countries, multi-currency support with market-leading FX rates and approval workflows that match how your business actually operates make global spending straightforward. See how other businesses use Airwallex to simplify their expense management and book a demo today. 

Corporate cards: frequently asked questions

What are the best card controls for digital and entertainment businesses?

Digital and entertainment businesses need controls that move as fast as they do. Category restrictions let you specify what each card can be used for, which is helpful when you're running multiple campaigns or projects at once. Set per-card and per-campaign limits so spending stays within budget without needing constant manual checks.

Instant issuance and freezing are essential. You can create cards for new initiatives and shut them down just as quickly when projects finish. Real-time tracking means you always know what's being spent and where, so you can catch any issues before they become real problems. These controls give you security without slowing your team down.

How do corporate cards support wholesale and trade payments?

Wholesale and trade businesses can streamline payments by issuing cards specifically to procurement teams. Set multi-currency controls if you're working with international suppliers, and add supplier-specific restrictions to make sure cards are only used for their intended purpose.

The real value comes from automation. Look for platforms that automatically match payment documents with transactions and generate the reports you need for trade compliance. This eliminates the manual reconciliation work that typically eats up time in wholesale operations, letting your team focus on supplier relationships instead of paperwork.

What is the ideal corporate card for companies with frequent travel needs?

If your team travels a lot, you need multi-currency cards that work everywhere. Look for cards with global acceptance so your employees aren't stuck trying to find payment alternatives in unfamiliar places. Instant issuance is crucial when someone books a last-minute trip, and competitive FX rates mean you're not losing money every time someone pays in a foreign currency.

Built-in expense management makes a huge difference for travel. Your team should be able to photograph receipts, categorise travel expenses, and submit everything for approval without tracking down paperwork weeks later. Airwallex Corporate Cards handle all of this, giving you visibility over travel spending while your employees focus on their actual work.

What is the best corporate card?

There's no single best corporate card for everyone. The right choice depends on what your business‌ needs: where you accept payments, how you manage expenses, whether you need virtual cards, and what fee structure makes sense for your spending patterns.

For Australian businesses operating globally, you'll want multi-currency support, cards you can issue instantly, and expense management that doesn't require a separate platform. Airwallex Corporate Cards are built for exactly this, with competitive fees and functionality that works across borders. When you're comparing options, focus on the transaction types you handle most often, the security features that matter to your business, and how easily the cards integrate with the tools you already use.

Do any corporate card solutions support project-based budgets and approvals?

Yes, modern platforms have caught up with how businesses work. You can assign individual virtual cards to specific projects, making it easy to track spending without sorting through mixed transactions later. Set budgets at the project level so everyone knows their limits from the start, and define which team members can spend on each project.

Approval workflows add another layer of control. You can require sign-off for certain spending thresholds or transaction types, making sure project expenses align with company policies. This gives project managers the visibility and control they need while reducing admin work for finance. When you're evaluating options, look for platforms that integrate well with your existing project management tools.