The card is issued by financial services providers Newcastle Building Society. Cardholders who opt for the Tuxedo Corporate Card can access and view their monthly expenditure online and subsequently export their expenses into a spreadsheet (such as the one provided by Microsoft Excel). The card can also be blocked and unblocked by the user either online or via text message in case there is a suspected security breach. Funds can be added or taken from the card as well as moved from one card to another by an administrator also online or via text message.
Tuxedo representatives have expressed their hopes regarding the addition of a HMRC-compliant VAT reporting module later in 2009 in order to eliminate the need for employee to resort to paper slips for monthly reports. The Tuxedo Corporate Card is accepted in over 26 million locations worldwide, online and at over 1.2 million ATMs.
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