New Prepaid Virtual Cards in Precoro for Pre-Approved, Fee-Free Card Spend

Not every payment is a standard purchase. A one-time vendor invoice, an urgent repair, a one-off tool, or a flight booked tonight may need a faster way to pay than the standard PO flow allows. Relying on shared physical cards, employee out-of-pocket spend, or standalone card programs might pass for small startups. But as companies scale across multiple locations and entities, this decentralized approach creates split liquidity, another vendor contract, an additional underwriting process, and less visibility into spend until the statement arrives.

Precoro virtual cards give teams at mid-market companies a fast way to handle purchases that don't fit the standard PO flow without moving spend outside their procurement controls. Cards come with preset limits and keep every transaction visible in Precoro. Read on to learn how Precoro cards work and how they can make business spending faster and easier.

Where virtual cards fit into your spending process

Precoro Payments handles approved invoices within your standard procure-to-pay flow. Virtual cards cover the purchases that need a more straightforward way to pay, while keeping spend within the same Precoro controls.

• Field and local purchases: Give site and field teams a way to pay for urgent supplies, fuel, repairs, and other local needs without sharing a physical card or spending their own money. 
• One-time vendor payments: Pay for one-off tools, subscriptions, equipment, and other occasional purchases, and skip full AP onboarding for vendors you'll only contact once.
• Travel and business expenses: Let employees cover flights, hotels, transportation, and other travel costs directly from corporate funds instead of asking them to pay out of pocket and file reimbursement reports later.

How prepaid virtual cards work in Precoro

Cards are issued through our partnership with Stripe, on the same infrastructure behind Precoro Payments. The flow has four stages: activate, issue, pay, and reconcile.

1. Activate in the workspace you already use

Spending cards are unlocked inside Precoro. There's no separate onboarding to complete and no new platform for your team to learn.

Activation requires a short Stripe form with a few business details, such as annual revenue and employee count. If you already use Precoro Payments, you don't need to complete the verification process again. Just fill out the short form to activate it.

2. Issue cards with preset limits

Once activated, you can create as many cards as you need at no cost. Cards draw from your existing Precoro balance, so there are no separate top-ups to manage and no isolated account sitting outside your core procure-to-pay flow.

Each card carries its own controls:

Amount and period limits. Cap spend by transaction amount and by timeframe—monthly or yearly. Every purchase is authorized against the card's limits and your available balance in roughly two seconds, so non-compliant spend gets declined on the spot.

Entity assignment. Assign each card to a specific legal entity while overseeing total spend across all entities from one central Card Manager view.

Automatic offboarding protection. When an employee's Precoro profile is deactivated, their cards are revoked automatically. No manual cleanup and no forgotten card still live three months after someone's last day.

3. Pay online or in the field

New cards can be provisioned straight to Apple Pay and Google Pay, so a requester can tap to pay within seconds of a card being issued.

4. Reconcile directly inside Precoro

As card transactions clear, Precoro automatically captures the merchant, expense category, and total—giving finance teams a complete transaction record in the same workspace they already use for spend management. Review and reconcile card activity against related expense records without chasing receipts, matching spreadsheets, or switching between disconnected systems.

The result is a complete, reliable record of spend without manual entry—giving finance teams better visibility and control over every purchase.

“Precoro Payments brought full visibility and control to standard, intake-driven invoice payments. But every new location or acquired business unit used to mean another bank account, card program, and contract—and that's exactly where visibility gets lost.
We built Precoro Virtual Cards so scaling companies don't have to make that trade: the same control extended to non-standard, fast-moving spend, with every entity running on a single balance, without adding second bank accounts or extra underwriting.”
— Andrew Zhyvolovych, CEO at Precoro

What virtual cards change for your teams

Prepaid cards change the day-to-day differently for each team involved. Here's how:

Fast access to approved spend for requesters

Field teams and site managers get pre-approved purchasing power directly in Precoro, ready to add to Apple or Google Pay in seconds. No shared physical card to track down, no extra login, no spending personal money and waiting on a reimbursement report to clear.

Policy compliance without bottlenecks for procurement

Virtual cards don't become a backdoor for maverick spend. Every purchase stays subject to the spending limits you configured in advance, checked in real time at the moment of authorization. Compliance is enforced before money leaves the business rather than assessed after the fact—so urgent and one-off purchases stay inside corporate policy without anyone chasing an approval.

Clean records and less AP bureaucracy for AP teams

AP teams can handle one-off vendor payments without going through full vendor onboarding. Transactions made with Precoro cards are automatically recorded in Precoro, reducing manual work, keeping vendor records clean, and helping AP teams close the books faster at month-end.

Scalable multi-entity spend governance for finance

Finance leaders can manage spending across subsidiaries, locations, and newly acquired business units from a single view. Extend purchasing power as the business grows without opening new bank accounts or repeating underwriting, while keeping spend centralized, visible, and under control.

What's next

Precoro is the agentic procurement and AP centralization platform that consolidates requests, approvals, purchase orders, receiving, invoice processing, payments, and supplier management into one workflow. Over 1,000 businesses rely on Precoro to standardize procurement across departments and locations—approving documents up to 3.5x faster, eliminating duplicate spend, and keeping budget visibility current at all times.

Prepaid virtual cards extend that control to the purchases that never fit the PO flow, so spend under management grows without your team adding a single account, contract, or reconciliation step.

This release is the foundation of the card program, and several capabilities are already in development for the coming quarters:

• Automated invoice reconciliation connecting card charges directly to the corresponding Precoro invoices and expense records.
• External transaction tracking. Import and reconcile third-party card transactions in Precoro.
• MCC and category restrictions to lock spend to specific Merchant Category Codes and pre-approved vendor types.
• Limit increase requests so cardholders can ask for a limit bump directly in Precoro.
• Transaction memos and receipts attached to individual purchases for audit-ready bookkeeping.
• Automatic merchant refunds returned straight to your central Precoro balance when an order is canceled, with no manual balance adjustments.
• In-app dispute filing to submit and track formal claims for unauthorized transactions from your dashboard.

Card spend was one of the most requested additions to Precoro, and it came to us directly from customers. You can follow what's coming, upvote the capabilities that matter most to you, and add your own ideas on our open product roadmap.

Keep an eye out for future Precoro updates, and be sure to take advantage of them to build the spend controls for your business.

Disclaimer:

Precoro partners with Stripe Payments Company for money transmission services and account services with funds held at Fifth Third Bank, N.A., Member FDIC. Precoro Visa® Commercial cards are powered by Stripe and issued by Celtic Bank.

Stripe Issuing balances are provided in the US by Stripe Payments Company, licensed money transmitter, with funds held at Stripe’s bank partners, Members FDIC.

Not using Precoro yet? Book a demo to see how prepaid virtual cards work inside a fully connected procure-to-pay flow—from request to payment to a clean record in one system.