What is Cash Wallet?
Cash Wallet is an optional feature of the Comdata Mastercard that allows you to load one-time funds to a cardholder’s balance. With cash wallet, you can make one-time disbursements, such as travel per diems or expense reimbursements, without requiring your Comdata Mastercard cardholders to carry separate cards. Cash wallet makes it easy and convenient to provide cash to travelers and eliminates time and money required with providing checks to cardholders for expense purposes.
How does it work?
Cash Wallet is your one place for distributing and managing cardholder payments, such as reimbursements and per diems, which saves you and your cardholder time. For example, say one of your cardholders is travelling to a trade show, and needs to use their personal card for some business related expenses. With Cash Wallet, you can reimburse the cardholder instantly for their out-of-pocket expenses. To use Cash Wallet:
- Complete a contract addendum provided to you by a Comdata representative.
- Once approved, you can load funds to a cardholder’s cards using iConnectData, Comdata’s account management website. You can also load funds to multiple cards at once using a batch file process via FTP.
- Use ICD to review your Cash Wallet activity, such as total amount of funds per load, billing information, and cardholder transaction activity.
Contact a Comdata representative to access Cash Wallet and start paying your cardholders today.
Who would use Cash Wallet?
Anyone with cardholders who travel for business expense, such as sales people, marketing associates, and trade show workers.
Why should I use Cash Wallet?
Key benefits include:
- Accessible funds for cardholders through any ATM in the Mastercard Cirrus network.
- Option of automatic direct deposit of funds into the cardholder’s bank account.
- Convenience of loading funds on ICD from anywhere with an internet connection.
- Saved time and money by eliminating the need for reimbursement and per diem payments by check.