Corporate Purchasing Credit Card

Elevate your business experience with the Corporate purchasing Card and enjoy a plethora of customer-centric benefits that redefine convenience. Say goodbye to time-consuming expense reconciliation as you effortlessly track and manage your expenses in real-time. Reap the rewards of enhanced control by setting transaction limits and merchant categories, safeguarding your financial interests like never before.

Features & Benefits

Track and manage employee expenses.

Restrict use of card based on Transaction limits and Merchant Categories.

Monitor card use for compliance, fraud detection and comprehensive reporting.

Purchaser and merchant management to enhance working capital control

Up to 53 days of interest free credit period

Faster payments to suppliers provide leverage to negotiate better purchase terms

Real-time reporting insights to compare costs and control expenses

Virtual Card

1. How does Sohar International's Corporate Purchasing Credit Card differ from other such products available in the market?
  1. The Bank allocates an overall credit limit at the corporate level, and sub-limits for designated employee credit cards. The Bank provides two sets of statements at the end of each month – one showing spend transactions by all cards issued to the company, and the other showing spend transactions by individual cardholders. Besides, other issuers do not offer online monitoring of credit limits and transactions.
  2. The card's advanced Spend Management web-based solution allows cardholders to access all the necessary information and tools to make better and more efficient business-related decisions.
  3. The corporate liability waiver program protects customers against losses that might be incurred through card misuse by employees.
  4. The Purchasing Card comes with comprehensive insurance cover, which includes free travel accident insurance and emergency medical assistance of up to US$2 million.
2. Can the Corporate purchasing credit card be tailored to the customer's requirements?

The Purchasing card can be customized to meet the user's specific needs. Thus, the credit card can be programmed for cash withdrawals, online transactions, over the counter purchases, and so on, depending upon the customer's requirements.

3. How does one apply for a Corporate purchasing credit card?

The process starts with a detailed product presentation to the corporate customer's designated Finance and Accounting personnel. Thereafter, in consultation with the applicant, the overall Purchasing card limit is set. This limit will be part of the overall working capital facility made available by Sohar International to the customer. Once the paperwork is in place, Sohar International begins the process of setting up and customizing an account in the customer's name. A brief training session for the corporate user then follows before the credit card is fully activated.

4. Who needs to open an account with Sohar International in order to have a corporate purchasing card facility?

Any company applying for corporate purchasing credit card must open an account in its name with Sohar International.

5. What are the safety features incorporated into the Corporate purchasing credit card?

This chip-based card comes with powerful safety features that offer complete protection against potential misuse. Users exercise full control over their transactions (whether related to over-the-counter purchases, cash withdrawals, and online transactions).

Fees and commission

Corporate purchasing credit card(s) *

1st year free annual fee for the Corporate Purchasing Credit Card

2nd year onwards RO 20

Annual Fee WaiverMinimum Spend of RO 7000/- per year per card will be entitled to annual fee waiver (for this card only)
Annual Interest rate for corporate customers with other credit facilities

12% first year

18% from the second year onwards

Annual Interest rate for corporate customers having corporate credit cards only as Sohar International facilities

12% first year

20% from the second year onwards

Cash Advance FeeRO 3+3% of amount
Card Cancellation FeeRO 20/-
Card Replacement FeeRO 20/-
Over Limit FeeRO 20/-
Returned Cheque Fee (for lack of funds)RO 50/-
Receipt Copy Request Fee (on invalid disputes only)RO 25/-
Foreign Transactions Fees (apply for all transactions made in currencies other then OMR)3% of transaction amount
Minimum Amount Due100%
Interest Free PeriodUp to 50 days
Cash Advance Limit0% or upon corporate customer request
Late Payment Fee10+3% on amount due

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The Purchasing Card isn't just a tool – it's your gateway to financial empowerment, offering you access to comprehensive reporting, fraud detection, and compliance monitoring. Embrace a future where expense management is effortless and rewards are boundless – experience the Purchasing Card today and embark on a journey of financial liberation.

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