A virtual card is just like a physical card in a lot of ways except that it is designed for the digital world, adding a layer of protection. You manage your account separate from the card numbers assigned, as you can have many virtual cards issued under one account. They are designed for short term use and you can control spending better than with a physical card.
Some ways virtual cards may be beneficial to your business:
Issue virtual cards with specific minimum and maximum spend limits per transaction daily, helping control the spending of your employees.
Earn up to 2% on all your expenditures, manage 100s of media campaigns, and â€“ depending on your business model â€“ reduce the cost to process transactions.
You can set virtual cards with one time or short time uses, eliminating passing around a physical card to different employees to make purchases or reservations for your company.
Any remaining balances on your virtual credit cards are credited back to the original account automatically.
Virtual credit cards are issued only to a primary cardholder, not to any secondary cardholders.
Given that virtual credit cards are non-physical, it is almost impossible to clone them, which makes it highly safe for all online transactions.