A multi-function account designed for all categories of business payments.
Corporate MultiPay provides an efficient and secure way of paying for your travel, entertainment and business purchases on one account.
It can help to reduce time spent on administration, automate the reconciliation of purchases and increase the visibility of colleagues' card spend.
- Processing efficiencies, automated data capture and tailored MI reports.
- Making payments promptly improves supplier relationships and allows you to take full advantage of available discounts.
- Optimises working capital with up to 45 days to pay interest-free on Sterling purchases.*
- Consolidated reporting which can be used as evidence for VAT reclaims.
- As well as Sterling, also available in Euro and US Dollar denominations to eliminate conversion costs when transacting in those currencies. To take advantage of these options a Lloyds Bank Current account is required in the relevant currency.
- Separates personal spending from business card spend.
- Provides the convenience of making payments at millions of locations worldwide that accept MasterCard.
- Simplifies expense claim authorisation.
- Provides travel inconvenience assistance, including medical and legal referral, at no extra cost.**
- Make contactless payments on transactions up to £45 at participating retailers (where retailers’ payment terminals enabled).
- Quicker payments to help ease their cash flow.
- Provides low cost financing and choice of payment channels - online, by phone or in person.
- Reduces administration by removing their need to chase outstanding invoices.
Streamlining administration on colleague expenses
Cardholders, authorisers and programme administrators can view, edit and authorise expense claim forms. Transaction data can then be coded using cost centres, General Ledger and bespoke internal codes before exporting into accounting or expense management software.
Control & Security
Corporate MultiPay can help you ensure compliance with internal spending, risk and governance policies by allowing you to control spend:
- at Company and cardholder level,
- by individual transaction amount or volume; and/or
- via Merchant Category Group blocking.
A Corporate MultiPay programme offers you increased visibility over supplier spend. This MI can be used to develop and drive better pricing with a preferred supplier list.
Corporate MultiPay also provides HMRC-accredited reports for VAT reclaim, with more than 8,500 UK-based VAT-enabled suppliers.
Reporting & MI
Corporate MultiPay provides for enhanced MI which you can tailor to match your organisation’s needs.
Additionally, raw data can be uploaded directly onto your own accounting systems. You can create a range of different reports, including:
- Cardholder profile reporting – detailing accounts, authorisations and allocation values.
- Merchant reports – summary of all transactions per merchant.
- User profile reporting – list of data for individual cardholders.
- VAT reporting – accredited tax reporting on transactions, categorised as “evidence” or “non-evidence” for VAT reclaim.
- User audit reports – list of modifications administered by each cardholder.
- Transaction reports – summary of all transactions per cardholder.
For more information about how Corporate MultiPay can enhance your business efficiency enquire online.
* or Euro or US Dollar purchases depending upon currency of account.
**Does not provide cover for cancellation/medical expenses.