Virtual Cards
Virtual cards are digital payment cards with unique numbers for secure, controlled business transactions, reducing fraud risks. The platform issues cards on demand with customizable limits and expiration dates, tied to specific vendors or employees. Transactions sync with accounting systems, simplifying reconciliation. Deactivation is instant if compromised, enhancing security. This eliminates out-of-pocket expenses, ensures policy compliance, and provides real-time spend tracking, giving finance teams precise control over business payments.
Frequently Asked Questions:
What is a virtual card?
A virtual card is a digital version of a payment card with a unique 16-digit number used for secure, one-time or limited-use business transactions.
How are virtual cards used in expense management?
They are issued to employees, departments, or vendors for specific purchases making it easier to track, control, and reconcile spending.
Are virtual cards safer than physical cards?
Yes. Since they’re single-use or limited by amount, date, or vendor, they reduce fraud risks and prevent misuse.
Can virtual cards be generated on demand?
Absolutely. Our platform allows finance teams to instantly issue virtual cards with custom limits and expiration settings.
How do virtual cards simplify reconciliation?
Each card is tied to a specific transaction, vendor, or employee, making it easy to match payments with expense reports and eliminate ambiguity.
Can you set controls on how virtual cards are used?
Yes. You can define spending limits, expiry dates, merchant categories, and even restrict cards to one-time use.
Do virtual cards integrate with accounting systems?
Yes. All card transactions are synced in real time with your accounting or ERP software, enabling smooth audits and reporting.
What happens if a virtual card is compromised?
It can be instantly deactivated without affecting other company finances unlike physical cards, which require full cancellation.
Who can issue and manage virtual cards in the platform?
Admins or finance teams can issue, monitor, and revoke virtual cards with full visibility and control over every transaction.
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