Monetary transaction has been a big challenge for companies with business models where the agent has to first buy the product ordered by the customer and then deliver. In such models, the agent has to either use personal cash or company’s cash for the purchase, which made the process complicated.
Taking a forward step towards digital transactions and to give our users complete control over all company credit card spending, Tookan has built an add-on in its marketplace- Monibyte. Monibyte is an electronic payment innovation which enables businesses to allow their workforce to make e-transactions using Monibyte cards.
With this add-on, the agents will be able to make purchases using the Monibyte card, which will be activated once the task starts and deactivated as the task completes or fails. This technology would not only eliminate cash transactions, but would also help businesses maintain a proper record of the purchases, eliminating errors and frauds.
Monibyte empowers the users to have complete control of the usage of their company credit cards, allowing them to decide when, how much, which currency, which days of the week, at which merchants, how often and in what geographical areas the credit or debit cards can be used. Businesses can implement a number of security restrictions and manage change authorization parameters, virtually eliminating card misuse. It allows seamless flexibility in a company’s monetary operations and can be implemented on any bank or processing company in the world. Integrated with most of the leading ERP systems, it also simplifies real-time data mining and reporting activities.
This technology has a great scope in the future and is definitely going to help businesses empower their workforce and make the operations efficient simultaneously.