Major Update Enhances Governance Features of Money Forward Business Card

Major Update in Governance Features of Money Forward Business Card

Money Forward Inc. has announced a significant upgrade to the governance features of its Business Card, which is developed and issued by its group company, Money Forward Kessai Inc. This latest enhancement focuses on improving fraud prevention and governance in the usage of business cards.

New Features Added

The recent update includes two major enhancements aimed at bolstering the security of business card transactions:

1. Expanded Payment Destination Specification
The payment destination specification feature, which allows companies to restrict where the card can be used, has been enhanced. Originally, it applied to cloud services, travel arrangements, and equipment purchases. Now, it includes highly requested options such as gas stations and advertising platforms. Notably, utilizing this feature along with the ETC card issued by the company allows for the comprehensive management of expenses such as fuel and highway tolls through the Money Forward Cloud.

2. Daily Usage Limits
In addition to the existing monthly spending limits, users can now set daily limits for card transactions. This adjustment enables managers to control expenses more effectively, such as setting a cap on fuel costs for drivers or managing small expense allowances for events. As a result, administrative burdens are reduced while effectively preventing misuse of funds.

For detailed information and application regarding the Money Forward Business Card, please visit: Money Forward Business Card

Background for the Update

The convenience of business cards as an alternative to advance expenses and petty cash has contributed to their growing popularity. However, the risk of credit card fraud continues to be a serious issue, with losses projected to exceed 51 billion yen by 2025, according to the Japan Credit Association.

Many companies hesitate to adopt business cards due to fraudulent usage risks and governance complexities. Even organizations that have implemented these cards face challenges with manual tracking of employee spending using outdated methods, leading to concerns about unauthorized usage and lost cards.

The Money Forward Business Card has a unique fraud detection system that blocks suspicious transactions, allows users to lock their card instantly through the app, and features auto-control of spending limits. It is already widely used for paying advertising costs, SaaS subscriptions, and employee distributions. Users report that the card facilitates expense management while minimizing risks related to information leakage and unauthorized personal use.

With the recent inclusion of gas stations and advertising platforms in the payment destination specification, coupled with increased flexibility in daily spending limits, the Money Forward Business Card has evolved to offer even stronger governance capabilities. The company plans to continue expanding the list of specified payment destinations in the future.

The Money Forward Business Card aims to provide both flexible payment options and robust governance, ensuring a trustworthy solution for employees.

About Money Forward Business Card

The Money Forward Business Card integrates with the Money Forward Cloud SaaS, enabling rapid monthly financial close and expense processing by obtaining transaction data in real time. Businesses can issue an unlimited number of virtual or physical cards, allowing employees to streamline expense reporting. The card can also be issued for specific purposes, acting as a purchasing card where needed. Features like fraud detection and the ability to set spending limits contribute to better internal controls.

For more information, visit: Money Forward Business Card