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Axis Bank has launched the Purchase Control Virtual Card through which a corporate customer has complete command on when, where and how his or her card is being used. Transaction-level authorisation and virtual accounts make it possible for customers to have control over their card.
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Note: This Card is not available on Paisabazaar.com. The content on this page is for information only. To express interest in this card, please visit the Axis Bank website.
Given below are a few key features of this credit card:
Highly Secure- The user can regulate spending with the help of virtual accounts and transaction level authorisation. It has a unique account number affiliated with a particular type of payment. Fraudulent practices are curtailed as well as squandering of money and non-compliant employee spending is avoidable.
Online Facility- This facility helps in immediately establishing virtual cards according to the customers’ needs without the requirement of a manual or physical card. The transactions done online are presented in a clear and substantial manner for the customer to view. Significant information regarding an independent payment can be consolidated in the transaction.
Transaction Level Authority- There are 29 varied customizable fields that encapsulate every piece of information that corporates may require. These have authorisation control over each and every transaction.
Enhance Cash Flow and Revenue from the Program- Customers can make use of a tool and surge their payments to suppliers. They can increase the advantages of their Purchasing Card program. Personalised tools also corroborate employee consent, decrease the period in the process of approvals and most importantly safeguard one’s company against embezzlement.
Choice of Suitable Execution– Customers can choose the implementation that suits them the best. Individual cardholders can set a certain spending limit for each transaction, every month. By uploading a batch file, customers can create a virtual account number. A monthly maximum limit can also be set for all cardholders.
Support and Guidance- To ensure the success of the credit card program (web-based), there is a devoted relationship manager and support infrastructure.
The table given below shows the fees and charges applicable to this credit card:
| Fee/Charge | Amount/Rate |
| Joining/Annual Fee | Communicated at the time of sourcing |
| Finance Charges | 2.95% per month |
| Cash Withdrawal Fee | 2.5% of the amount withdrawn or Rs. 500, whichever is higher |
| Cash Payment Fee | Rs. 50 |
| Card Replacement Charges | Nil |
| Late Payment Charges for Corporate Liability Credit Cards | 3% of the entire amount due or Rs. 350, whichever is higher |
| Late Payment Charges for Individual Liability Credit Cards | Rs. 300 in case the total amount due is up to Rs. 2,000 Rs. 400 if total amount due is from Rs. 2,001 and Rs. 5,000Rs. 600 in case of the total amount that is due is Rs. 5,001 and above |
| Fuel Surcharge Waiver | 1% for transaction values of Rs. 400 to Rs. 4,000 |
| Foreign Exchange Mark-up | 3.5% |
The eligibility for a Purchase Control Virtual Card by Axis Bank depends solely on the discretion and credibility of the bank. Axis Bank would also require the applicants to submit a set of documents which may include the following:
This list is only indicative. The bank may ask for more documents as it deems fit.
Interested candidates can apply for a Purchase Control Virtual Card by visiting an Axis Bank Branch. The bank representatives will give an application form for the same, which the applicant needs to fill. They will then take him through the entire process.
Another method of applying for a Purchase Control Virtual Card is through Axis Bank’s website.
Can I apply online for an Axis Bank Purchase Control Virtual Card?
Yes, you can apply online for a Purchase Control Virtual Card online by visiting the official website of Axis Bank and filling the application form online.
What are the standard add-on card joining and annual fee?
There are no charges for a standard add-on card joining as well as for a standard add-on card annually.
Please Note: Axis Bank is not a Paisabazaar partner. Offers would be from partner Banks/NBFCs only.
