How Qashio Prevents Credit Card Fraud in the UAE

Credit card fraud is a growing concern for businesses of all sizes in the UAE. While corporate cards are essential for managing company expenses, they also expose companies to risks such as unauthorised, fraudulent transactions and employee overspending.

Qashio lets businesses create unlimited corporate cards with comprehensive spending restrictions and approval policies to prevent fraudulent transactions from occurring, and ensuring financial transparency.  

The Growing Challenge of Credit Card Fraud in the UAE

Corporate credit card fraud is on the rise, often as a result of:

• Limited Transaction Visibility: Shared corporate cards make it difficult to track individual employees expenses, leading to unchecked spending.
• Unrestricted Online Spending: Recurring digital transactions, like ad campaigns or software subscriptions, can result in unauthorised purchases going unnoticed.
• Broad Spending Limits: Cards with high spending limits are particularly at risk of misuse and fraudulent transactions.

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How Qashio Prevents Credit Card Fraud

Qashio integrates cutting-edge technology with practical controls to reduce the risk of fraud. Here’s how:

Unlimited Corporate Cards for More Control

Qashio enables businesses to issue unlimited corporate cards, allowing companies to assign dedicated cards to each employee or subscription service.

• Employee Cards: Track spending at an individual level, ensuring full visibility into who spends what and why.
• Subscription Cards: Create cards for each recurring expense, such as software tools or ad platforms, making it easy to manage payments or cancel unused services without long negotiations.

Custom Spending Limits and Restrictions

Set detailed spending parameters to control expenses by location, category, or frequency of transactions.

• Budget-Based Control: For example, if you're running ad campaigns with a daily budget, assign a separate card with a matching daily limit. This ensures that overcharges are automatically declined.
• Geographic Restrictions: Block transactions outside approved regions, reducing exposure to international fraud.

Real-Time Monitoring and Alerts

Qashio provides real-time visibility into company transactions to help businesses stay ahead of fraud.

• Instant Alerts: Receive notifications the moment a transaction occurs, allowing for immediate review and action.
• Policy Compliance: Ensure all transactions align with company policies, flagging any suspicious activity for investigation.

Role-Based Access and Spending Controls

Control access to corporate cards based on employee roles and responsibilities.

• Role-based Access and Limits: Assign limits and categories tailored to each role. For instance, an employee in procurement can have a different spending cap compared to someone in marketing.
• Multiple Approval Layers: Require additional authorisation for high-value purchases to reduce risk.

Virtual Cards for Added Security

Qashio’s virtual corporate cards offer enhanced security for online transactions.

• One-Time Use: Generate temporary card numbers for single-use or recurring payments, limiting exposure to unauthorised transactions.
• Vendor-Specific Restrictions: Lock cards to approved vendors, ensuring funds are only used for legitimate purposes at pre-approved vendors.

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Key Tools and Features That Set Qashio Apart

Comprehensive Spend Management

Qashio simplifies spend tracking with:

• Automated Workflows: Streamline approvals to minimise delays.
• Receipt Matching: Match transactions to receipts for better compliance.
• Audit Trails: Maintain a detailed log of all expenses for full transparency.

Responding to Fraud: Qashio Has You Covered

Although our robust fraud prevention measures significantly reduce the likelihood of fraudulent transactions, there is still a small chance they might still occur. Qashio ensures swift action with:

• Instant Account Freezing: Block compromised cards immediately to prevent further misuse.
• Detailed Insights: Access real-time reports to pinpoint the source of fraudulent activity.
• Policy Updates: Adjust spending limits and permissions to prevent recurrence.
  

Why Choose Qashio to Prevent Credit Card Fraud?

Qashio empowers businesses across the UAE with robust fraud prevention features, ensuring corporate cards are secure, efficient, and easy to manage. By combining real-time visibility, customisable controls, and streamlined processes, Qashio transforms corporate expense management into a secure, seamless experience.

Spend Securely with Qashio

Protect your business from credit card fraud with Qashio. Contact us to learn how Qashio can optimise your company’s financial security and streamline your expenses.

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