For example, a purchase card might have a $50,000 overall limit but restrict individual transactions to $5,000 without additional approval.

Purchase cards developed as a way to replace slow, paper-heavy procurement processes that relied on purchase orders, approval forms, and checks.

Purchase card vs. credit card: 5 key differences to know For many businesses, credit cards can function like tools in a toolbox. Some card types might work better for certain jobs compared to ...