What is a corporate card? A complete guide for Malaysia (2026)

Key takeaways:

• A corporate card is a payment card issued by a business — not an individual — to let employees pay for company expenses without using personal funds.

• In Malaysia, corporate cards include credit, charge, debit, prepaid, and virtual variants from both banks and fintechs.

• Airwallex offers Malaysian businesses multi-currency Visa Corporate Cards with no annual fees, 0% international transaction fees, and built-in expense management.

If you've ever asked "what is a corporate card?", you're probably running a Malaysian business that has outgrown personal credit cards and director reimbursements. A corporate card lets your team pay for business expenses directly, without dipping into their own funds.

In this guide, we’ll break down the types of corporate cards, fees, liability rules, and eligibility requirements specific to Malaysian businesses in 2026.

If you’re clear on how corporate cards work, and you’re trying to decide which corporate card to get, read our article on the best corporate cards in Malaysia instead.

What is a corporate card?

A corporate card is a payment card that a company issues to its employees so they can pay for business expenses. The card is tied to the business — not the individual cardholder — which means the company is the legal account holder and is usually the one liable for the bill.

Why does this matter? When a sales lead pays for a client dinner with a corporate card, the receipt sits in the company's books from day one. There's no need for the employee to use their personal credit card and chase reimbursement at the end of the month.

Corporate cards in Malaysia come in several forms, and they can be issued by both banks (such as Maybank, CIMB, RHB, and HSBC) and fintechs (such as Airwallex and Swipey). They're also commonly called commercial cards, business cards, or company cards, although those terms aren't always interchangeable.

The main thing they share is purpose. They give your team a clean, traceable way to spend on behalf of the business — and they give you visibility over where every ringgit goes.

How does a corporate card work in Malaysia?

A corporate card programme follows the same basic flow no matter which provider you choose. You apply as a business, get approved, decide who needs a card, and then track spend in one place.

Step 1: Apply as a business

You submit your SSM business registration, identification documents for authorised cardholders, and (for credit-based cards) financial statements. Most banks will assess your company's revenue and credit history before issuing. Fintech providers tend to assess your business account activity instead.

Step 2: Issue cards to your team

Once approved, you decide who gets a card and what each card can be used for. With most providers, you can issue both physical and virtual cards, and assign them to specific people, teams, or expense categories.

Step 3: Spend within rules you set

Spending limits, merchant categories, and approval workflows keep employee spend aligned with company policy. Every transaction is logged to your central account in real time, so there's no waiting for end-of-month statements.

Step 4: Settle the bill centrally

For credit and charge cards, the company receives one consolidated bill and pays it off either monthly or in full at the end of each billing cycle. For debit and prepaid cards, the spend is deducted directly from your company balance — no bill, no interest.

All card issuers in Malaysia must be regulated. Banks fall under Bank Negara Malaysia's banking licence framework, and fintech card issuers operate under BNM's e-money or Money Services Business licences. Always check that your provider is BNM-licensed before opening an account.

Types of corporate cards available in Malaysia

Not every corporate card works the same way. Some extend credit, some draw from a balance, and some only exist as a string of digits inside an app. Here's how each type works and where it fits in a Malaysian business:

Type 1: Corporate credit card

A corporate credit card extends a line of credit to your business. Your team spends now and the company settles the bill at the end of the billing cycle, with interest charged on any unpaid balance.

Major Malaysian banks — including Maybank, RHB, HSBC, CIMB, and Alliance Bank — issue corporate credit cards, usually bundled with cashback or rewards on eligible business spend. They tend to suit established companies with consistent revenue and a credit history.

Type 2: Corporate charge card

A corporate charge card looks similar to a credit card but the balance must be paid in full at the end of every billing cycle. There's no revolving credit and no preset spending limit on most charge cards — approvals are based on your spending pattern and the company's financial health.

American Express is the most recognisable issuer of corporate charge cards in Malaysia, distributed through Maybank.

We'll cover charge cards in more detail in our separate guides on what a charge card is and how charge cards compare to credit cards.

Type 3: Corporate debit card

A corporate debit card is linked directly to your business account and only spends what's already in the balance. There's no credit involved, no interest, and no monthly bill to settle.

That makes debit cards a cleaner option for businesses that want strict control over outflows or that don't want to take on credit.

Most fintech corporate cards in Malaysia — including Airwallex — sit in this category.

Type 4: Prepaid corporate card

A prepaid corporate card is loaded with funds in advance and your team can only spend up to the loaded balance. Because there's no credit check, prepaid cards are easier for newer SMEs and sole proprietors to access.

Swipey is a Malaysia-based example, issuing Visa-powered prepaid cards in ringgit with built-in spend controls.

The trade-off is that most prepaid cards in Malaysia hold funds in MYR only, which limits their usefulness for businesses paying overseas suppliers or running international ad spend.

Type 5: Virtual corporate card

A virtual corporate card exists only in digital form — there's no physical card. You generate one inside your provider's dashboard or app, and use the card details for online purchases, software subscriptions, or one-off vendor payments.

Virtual cards are particularly useful for assigning a different card to each subscription or campaign, since you can freeze, delete, or reissue them in seconds.

For more on this, see our guide to the best virtual debit and credit cards in Malaysia.

Company card vs employee card

Most modern corporate card programmes let you choose between two card formats.

• A company card is shared across the team and used for centralised expenses like SaaS subscriptions, advertising spend, or office supplies. 

• An employee card is issued to a specific person and used for their individual work expenses — travel, client dinners, or fieldwork costs. 

Most growing businesses use both, with company cards handling shared budgets and employee cards handling individual spend.

Corporate card vs business credit card vs personal credit card

These three terms get used interchangeably, but they're not the same product. The biggest differences come down to who's liable for the bill and who can apply:

The information in this table has been reviewed to be accurate as of 15 May 2026.

In short, a corporate card is built for businesses with employees and a need for centralised control. A business credit card sits a step below — it’s designed for sole proprietors or smaller SMEs who still want to keep business expenses off their personal cards.

A personal credit card is for personal use, full stop. Using one for business expenses creates messy bookkeeping and exposes you personally to the debt.

Corporate card fees and charges in Malaysia

Corporate cards in Malaysia carry several fees beyond the obvious annual one. Knowing what to expect helps you compare cards honestly and avoid bill shock.

Fee 1: Annual fee

Most bank-issued corporate credit cards in Malaysia charge an annual fee per principal card, and sometimes a separate fee per supplementary card.

The Maybank Visa Corporate Card, for example, charges RM130 per card issued¹. Many fintech-issued debit cards (including Airwallex) have no annual fee at all.

Fee 2: Service tax (SST) on credit and charge cards

Under the Service Tax Act 2018, a service tax of RM25 applies to each principal and supplementary credit or charge card issued, and is charged again on every card anniversary¹. SST does not apply to corporate debit or prepaid cards in the same way, so those are often cheaper to run on a per-card basis.

Fee 3: Interest or profit rate on unpaid balances

Corporate credit and charge cards charge interest (or, for Islamic cards, a profit rate) on any outstanding balance not paid in full by the due date. The rate varies by issuer — BSN's Visa Corporate Card-i, for example, charges as low as 9% p.a. for public sector cardholders².

Conventional bank cards typically fall higher, often into double digits. Debit and prepaid cards charge no interest because there's no credit involved.

Fee 4: Cash advance fees

Withdrawing cash from an ATM using a corporate credit card usually triggers a cash advance fee plus immediate interest from the date of withdrawal. Most issuers charge a flat fee or a percentage, whichever is higher.

Fee 5: Foreign currency / FX markup

Most Malaysian-issued corporate cards apply an FX markup on transactions in non-ringgit currencies, on top of the network's wholesale rate. The cost adds up quickly for businesses paying overseas suppliers, running international ad spend, or travelling.

Multi-currency fintech cards (such as Airwallex) avoid this markup when you spend from a balance held in the same currency as the transaction.

Fee 6: Late payment fees

If you don't pay at least the minimum amount by the due date, banks apply a late payment fee — usually a flat ringgit amount or a percentage of the outstanding balance, whichever is higher. Repeated late payments can also affect your company's credit standing.

Common cashback exclusions

Many cashback-earning corporate cards in Malaysia exclude certain merchant categories from rewards.

RHB's Corporate Card, for example, excludes petrol, cash advances, government payments, charity, JomPAY, and FPX transactions from cashback³. Maybank's Visa Corporate Card excludes petrol, government services, and JomPAY transactions¹.

Read the fine print before assuming a headline cashback rate will apply to all your spend.

Liability structures: Who pays the bill

When a corporate card bill comes due, who's responsible for paying it depends on the liability structure your card is set up under. Most Malaysian issuers offer two main options.

Option 1: Corporate (sole) liability

Under corporate (sole) liability, the company alone is responsible for the bill. The named cardholder has no personal exposure.

This is the default for most fintech-issued debit cards (including Airwallex), and it's available as an option from banks like Maybank, RHB, and BSN.

Option 2: Joint and several liability

Under joint and several liability, both the company and the named cardholder are responsible for the debt. If the company doesn't pay, the bank can pursue the employee.

Many bank-issued corporate credit cards in Malaysia default to this structure, which means an unpaid bill could end up on your employee's personal credit record.

Always confirm the liability structure before issuing cards. If you don't want employees exposed to personal credit risk, opt for corporate liability — or use a debit-based corporate card where there's no debt to worry about in the first place.

How to choose the right corporate card for your business

The right corporate card depends on how your business spends, how big your team is, and what you need beyond a payment method. Here are the criteria worth weighing before you commit.

Fees and total cost of ownership

Look past the headline annual fee. Add in SST, FX markups, late payment fees, and interest if you're not paying in full each month. A card with no annual fee can still be more expensive overall if it charges 3% on every overseas transaction.

Liability structure

Decide whether you're comfortable with employees holding joint liability for charges on their cards, or whether you want the company to take sole responsibility. If your team includes junior staff or fieldworkers, corporate liability or a debit-based card removes personal credit exposure entirely.

Spend controls and visibility

A modern corporate card should let you set spending limits per card, restrict merchant categories, freeze cards instantly, and see transactions in real time. If you're still relying on month-end statements to track what your team spent, you've outgrown your current setup.

Multi-currency support

If your business pays overseas suppliers, runs international ad campaigns, or has staff travelling abroad, a multi-currency card pays for itself by avoiding FX markups. Cards that draw from balances held in the same currency as the transaction (instead of converting from MYR every time) save the most.

Accounting integrations

Look for a corporate card that connects directly to your accounting software — Xero, QuickBooks, NetSuite, or whatever your finance team uses. Native integrations cut hours of manual data entry and reduce reconciliation errors at month-end.

Eligibility match

Banks generally require established revenue, a credit history, and sometimes a minimum number of cardholders. Fintech debit and prepaid cards are more accessible — most just need an SSM-registered business and identification for cardholders.

Who qualifies for a corporate card in Malaysia?

Most Malaysian corporate cards are open to companies registered with the Companies Commission of Malaysia (SSM) — including Sdn Bhd, LLPs, sole proprietorships, and partnerships.

Bank-issued credit cards usually add their own requirements on top, such as a minimum annual revenue, an existing business banking relationship, and sometimes a minimum number of authorised cardholders.

Fintech debit and prepaid cards are usually more accessible. If your business is registered and you have identification for the cardholder, you're likely eligible.

How to apply for a corporate card in Malaysia

The application process depends on whether you go with a traditional bank or a fintech. Either way, the documents you need to prepare are broadly the same.

Documents you'll typically need

For most applications, prepare the following documents in advance:

• SSM business registration documents — a copy of your company's certificate of incorporation, Form 9, Form 24, Form 49, or the SSM e-Info equivalent, depending on your business structure.

• Identification for authorised cardholders — MyKad copies (for Malaysian citizens) or passport copies (for foreign directors and employees).

• Board resolution or letter of authorisation — signed by directors, authorising the application and naming the cardholders. Required by most banks and some fintechs.

• Recent business bank statements — typically the last three to six months, used by banks to assess turnover.

• Latest audited financial statements — usually required for credit-based cards, especially for higher credit limits.

• Trading licence or business licence — where applicable to your industry.

Applying for a corporate card

The path you take depends on whether you're applying with a bank or a fintech.

Bank-issued corporate credit cards usually involve a paper application form, in-branch document submission, and a credit assessment. Approval can take anywhere from one to several weeks, depending on the bank and the completeness of your documentation.

Fintech-issued corporate cards are designed for online onboarding. With Airwallex, for example, you sign up online, verify your business and directors digitally, and start issuing virtual cards once your account is approved — usually within a few business days.

If speed matters more than rewards, the fintech route is hard to beat. If your business needs the cashback, travel insurance, or higher credit limits that come with a bank-issued credit card, the longer application timeline is part of the trade-off.

Why Malaysian businesses choose Airwallex Corporate Cards

Traditional bank corporate cards work well if your business is focused mainly on local expenses. But most growing Malaysian businesses today operate beyond the local market.

You might be paying overseas suppliers in CNY, running Google Ads in USD, accepting payments from international customers, or managing a team that travels regularly. A traditional ringgit-only credit card adds friction at every one of those moments, including FX markups, double conversions, and limited visibility.

That's where Airwallex Corporate Cards come in. Here’s what you get with Airwallex:

Multi-currency spending without FX markups

Airwallex Corporate Cards let you spend directly from balances held in 20+ currencies through your Global Account. When you pay an overseas supplier in USD or buy a SaaS subscription in EUR, the card draws from your USD or EUR balance — there’s no conversion, and no FX fee to pay.

If you don't have the balance in that currency, Airwallex auto-converts at competitive interbank rates of 0.4% to 0.6% above interbank, helping you save up to 80% on FX fees.

No annual fees and no credit gate

There are no annual fees on Airwallex Corporate Cards, and no credit assessment to apply. Your business spends from its own funds, not borrowed credit — which means no interest charges, no credit limits set by a bank, and no requirement for years of audited financials.

Built-in spend controls and expense management

You can issue virtual and physical cards from your dashboard, set spending limits per card, restrict purchases by merchant category, and freeze cards instantly.

Every transaction syncs in real time to Expense Management — with receipt capture, approval workflows, and direct sync to Xero, QuickBooks, and NetSuite. No more chasing receipts or reconciling spend at month-end.

Apply online with just SSM and a MyKad

There's no branch visit, no paper forms, and no waiting weeks for approval. You sign up online, verify your business with your SSM registration documents, and verify directors with a MyKad or passport.

Frequently asked questions (FAQs)

Can I get a corporate card without a credit check in Malaysia?

Yes, corporate debit and prepaid cards in Malaysia don't require a credit check, since you're spending from your own funds rather than borrowed credit. Most fintech-issued corporate cards (including Airwallex) fall into this category, which makes them more accessible for SMEs and newer businesses that don't meet bank revenue thresholds. Bank-issued credit and charge cards always involve a credit assessment of the company's financials.

How long does it take to get a corporate card in Malaysia?

It depends on the provider. Bank-issued corporate credit cards typically take one to several weeks, involving paper application forms, document collection, and a credit assessment. Fintech-issued debit cards onboard online and can issue your first virtual cards within a few business days of approval.

Do corporate cards affect my employees' personal credit scores?

It depends on the liability structure. Under corporate (sole) liability, only the company is responsible for the debt and there's no impact on the employee's personal credit. Under joint and several liability — common with bank-issued credit cards — an unpaid bill can be reported on the employee's personal credit record. Debit-based corporate cards like Airwallex involve no debt at all, so there's nothing to report.

Can a sole proprietor in Malaysia get a corporate card?

Yes, sole proprietors registered with SSM can apply for corporate cards from both banks and fintechs in Malaysia. Bank-issued credit cards may require additional documentation and are often harder to qualify for as a sole prop, particularly without strong revenue or credit history. Fintech debit and prepaid cards have lower barriers to entry and are usually a faster route.

Can corporate cards be used for personal expenses?

No, corporate cards are intended strictly for business expenses, and most company policies (and card T&Cs) explicitly prohibit personal use. Mixing personal and business spend creates messy bookkeeping, complicates tax reporting, and in some cases can trigger fraud reviews from the card issuer. If you need a card for personal use, get a separate personal credit or debit card.

Are corporate cards safer than letting employees use personal cards?

Yes, in most cases. Corporate cards centralise visibility — every transaction shows up in your dashboard in real time, with controls like spending limits, merchant restrictions, and instant card freezing. Personal cards used for business spend rely on employees to keep receipts and submit accurate claims, which leaves more room for error, missed expenses, and lost documentation.

Sources:

1. https://www.maybank2u.com.my/maybank2u/malaysia/en/business/cards/maybank_visa_corporate_card.page

2.  https://www.bsn.com.my/IslamicBanking/Cards-i/bsn-visa-corporate-card-i?lang=en

3.  https://www.rhbgroup.com/business/commercial-cards/corporate-card/index.html

This publication does not constitute legal, tax, or professional advice from Airwallex nor substitute seeking such advice, and makes no express or implied representations / warranties / guarantees regarding content accuracy, completeness, or currency. If you would like to request an update, feel free to contact us at [[email protected]]. Airwallex (Malaysia) Sdn. Bhd., a company incorporated under the laws of Malaysia with company registration number 201801007747 (1269761-X), is regulated as a licensed remittance business under the Money Services Business Act 2011 (Licence number 00743 with an expiry date of 3 August 2028, an E-Money Issuer and a registered merchant acquirer under the Financial Services Act 2013.