Twollow
  • Tech
    ATS Software

    ATS Software & How it Works

    Tips for Working with Your Web Designer

    7 Great Tips for Working with Your Web Designer

    Virtual Event Software

    Virtual Event Software: What Is It and How Does It Work?

    How Many Questions Can You Ask Chatgpt In An Hour

    How Many Questions Can You Ask Chatgpt In An Hour

    How To Block Mind-Reading Technology

    How To Block Mind-Reading Technology – A Detailed Guide

    IoT Devices

    IoT Devices: Communication Is Key, but How?

    Applying AI and ML in the Manufacturing Industry

    A Comprehensive Guide to Applying AI and ML in the Manufacturing Industry

    Breathe New Life into Your MacBook

    Breathe New Life into Your MacBook Pro With Battery Replacement

    Machine and Equipment Manufacturers

    Machine and Equipment Manufacturers for Industrial Development

  • Apps
    Food Delivery Apps

    Why White-Label Food Delivery Apps Are Best To Start in 2023

    Why Should You Buy Views for Instagram

    Why Should You Buy Views for Instagram | Top Advantages

    News Mobile App

    Best Practices For Creating Engaging News Mobile App

    app development

    InsiderTech No:1 Web Application Development

    Efficient Hosting Solutions

    Why Businesses Should Use Highly Efficient Hosting Solutions for Their Sites

    How To Build Android Apps With Node JS Using Android JS

    How To Build Android Apps With Node JS Using Android JS

    Is Powerapps Service The Future Of App Development?

    How To Make Night In Little Alchemy

    How To Make Night In Little Alchemy?

    How To Make Light In Little Alchemy

    How To Make Light In Little Alchemy?

  • How To
    How to Uninstall Easytune

    How to Uninstall Easytune

    How To Import GTA Vice City Save To IOS

    How To Import GTA Vice City Save To IOS

    unit trusts

    How to Invest in Singapore Unit Trusts

    How To Unlock All Gun Skins in free Fire With Lulubox

    How To Unlock All Gun Skins in free Fire With Lulubox

    solar panels

    Common Solar Panel Concerns and How to Deal With Them

    imei number

    How to Check IMEI Number?

    bong

    How do you manufacture a bong?

    Central heating

    DIY Guide: How To Install A Designer Radiator

    website

    Things That Might Be Wrong With Your Website And How To Fix Them

  • Business
    • All
    • Finance
    How Customer Reviews Affect Your Brand Reputation

    How Customer Reviews Affect Your Brand Reputation

    How to Qualify for an FHA Loan

    How to Qualify for an FHA Loan: Wondering If You’re Eligible for an FHA Loan?

    Ways to Level Up Your Financial Literacy

    Excellent Ways to Level Up Your Financial Literacy

    Investing In Gold

    Investing In Gold: What Lies Ahead?

    Does A Car Accident Affect Motorcycle Insurance & Vice Versa?

    Does A Car Accident Affect Motorcycle Insurance & Vice Versa?

    CRM Mistakes Businesses Make And How To Avoid Them

    5 CRM Mistakes Businesses Make And How To Avoid Them

    Business Benefits Of Learning a New Language

    The Business Benefits Of Learning a New Language

    job change

    What are the Mistakes that you should avoid when making a career change

    wealth management Advisors

    Common Mistakes To Avoid When Conducting Workforce Planning Meetings

  • Marketing
    Positives and Negatives of Outsourcing Your Marketing

    The Positives and Negatives of Outsourcing Your Marketing

    Top 10 online marketplaces in 2023

    Top 10 online marketplaces in 2023: a guide to leading ecommerce platforms

    Tips for Creating an Effective Website

    Business Websites: 8 Tips for Creating an Effective Website

    Importance of Branding in the Health Industry

    The Importance of Branding in the Health Industry

    What is an SMM Panel

    What is an SMM Panel: A Comprehensive Guide for Beginners and the Right Time to Buy an SMM Panel

    Importance of Time to Market on Product Development

    Importance of Time to Market on Product Development

    Local SEO Tips for Struggling Businesses

    Eight Local SEO Tips for Struggling Businesses

    SMM panels to enhance your social media strategy

    Best practices for using SMM panels to enhance your social media strategy

    Reasons Why SMM Panels Are Essential for Your Online Success

    15 Compelling Reasons Why SMM Panels Are Essential for Your Online Success

  • General
    Best Maids Services Near Me

    Get Your Home Spotless with the Best Maids Services Near Me

    Flight Training

    Flight Training 101: Everything You Need to Know

    Punching Bag Online For Boxing

    Buying The Perfect Punching Bag Online For Boxing -Tips And Suggestions

    decorate outdoor

    5 Outdoor Decorating Trends That Are Shaping 2023

    How Long After A Vasectomy Can I Drive A Car

    How Long After A Vasectomy Can I Drive A Car

    Preparing For Your First Client Meeting

    10 Tips On Preparing For Your First Client Meeting

    Damon Salvatore Rule 34

    Damon Salvatore Rule 34: Everything You Need To Know 

    Online Radio Proxy

    Use An Online Radio Proxy To Listen Anywhere In The World

    best coffee bean grinders

    Coffee Packaging Guide for Summer 2023

  • Reviews
    Development of Cryptocurrency

    A Crypto.com Overview

    Ophthalmology eyesight examination

    Red Light Therapy Devices for Eyes: Where to Buy

    text to speech

    Best Text to Speech Converters Reviewed

    air purifier

    Where Can You Find the Best Air Cleaner Pro Reviews?

    How to Choose a Cheap Hosting

    Liquid Web Reviews: A Look At A Reliable Hosting Company

    Ionic Training

    Get Ionic Training and Improve Your Career Options

    Learning Experience

    Salesforce DX myTrailhead to Customize the Learning Experience

    Best Web Hosting Services

    10 Best Web Hosting Services 2018

    Honey Chrome Extension Review

    Honey Chrome Extension Review – Is It Scam Or Real?

  • Featured
No Result
View All Result
  • Tech
    ATS Software

    ATS Software & How it Works

    Tips for Working with Your Web Designer

    7 Great Tips for Working with Your Web Designer

    Virtual Event Software

    Virtual Event Software: What Is It and How Does It Work?

    How Many Questions Can You Ask Chatgpt In An Hour

    How Many Questions Can You Ask Chatgpt In An Hour

    How To Block Mind-Reading Technology

    How To Block Mind-Reading Technology – A Detailed Guide

    IoT Devices

    IoT Devices: Communication Is Key, but How?

    Applying AI and ML in the Manufacturing Industry

    A Comprehensive Guide to Applying AI and ML in the Manufacturing Industry

    Breathe New Life into Your MacBook

    Breathe New Life into Your MacBook Pro With Battery Replacement

    Machine and Equipment Manufacturers

    Machine and Equipment Manufacturers for Industrial Development

  • Apps
    Food Delivery Apps

    Why White-Label Food Delivery Apps Are Best To Start in 2023

    Why Should You Buy Views for Instagram

    Why Should You Buy Views for Instagram | Top Advantages

    News Mobile App

    Best Practices For Creating Engaging News Mobile App

    app development

    InsiderTech No:1 Web Application Development

    Efficient Hosting Solutions

    Why Businesses Should Use Highly Efficient Hosting Solutions for Their Sites

    How To Build Android Apps With Node JS Using Android JS

    How To Build Android Apps With Node JS Using Android JS

    Is Powerapps Service The Future Of App Development?

    How To Make Night In Little Alchemy

    How To Make Night In Little Alchemy?

    How To Make Light In Little Alchemy

    How To Make Light In Little Alchemy?

  • How To
    How to Uninstall Easytune

    How to Uninstall Easytune

    How To Import GTA Vice City Save To IOS

    How To Import GTA Vice City Save To IOS

    unit trusts

    How to Invest in Singapore Unit Trusts

    How To Unlock All Gun Skins in free Fire With Lulubox

    How To Unlock All Gun Skins in free Fire With Lulubox

    solar panels

    Common Solar Panel Concerns and How to Deal With Them

    imei number

    How to Check IMEI Number?

    bong

    How do you manufacture a bong?

    Central heating

    DIY Guide: How To Install A Designer Radiator

    website

    Things That Might Be Wrong With Your Website And How To Fix Them

  • Business
    • All
    • Finance
    How Customer Reviews Affect Your Brand Reputation

    How Customer Reviews Affect Your Brand Reputation

    How to Qualify for an FHA Loan

    How to Qualify for an FHA Loan: Wondering If You’re Eligible for an FHA Loan?

    Ways to Level Up Your Financial Literacy

    Excellent Ways to Level Up Your Financial Literacy

    Investing In Gold

    Investing In Gold: What Lies Ahead?

    Does A Car Accident Affect Motorcycle Insurance & Vice Versa?

    Does A Car Accident Affect Motorcycle Insurance & Vice Versa?

    CRM Mistakes Businesses Make And How To Avoid Them

    5 CRM Mistakes Businesses Make And How To Avoid Them

    Business Benefits Of Learning a New Language

    The Business Benefits Of Learning a New Language

    job change

    What are the Mistakes that you should avoid when making a career change

    wealth management Advisors

    Common Mistakes To Avoid When Conducting Workforce Planning Meetings

  • Marketing
    Positives and Negatives of Outsourcing Your Marketing

    The Positives and Negatives of Outsourcing Your Marketing

    Top 10 online marketplaces in 2023

    Top 10 online marketplaces in 2023: a guide to leading ecommerce platforms

    Tips for Creating an Effective Website

    Business Websites: 8 Tips for Creating an Effective Website

    Importance of Branding in the Health Industry

    The Importance of Branding in the Health Industry

    What is an SMM Panel

    What is an SMM Panel: A Comprehensive Guide for Beginners and the Right Time to Buy an SMM Panel

    Importance of Time to Market on Product Development

    Importance of Time to Market on Product Development

    Local SEO Tips for Struggling Businesses

    Eight Local SEO Tips for Struggling Businesses

    SMM panels to enhance your social media strategy

    Best practices for using SMM panels to enhance your social media strategy

    Reasons Why SMM Panels Are Essential for Your Online Success

    15 Compelling Reasons Why SMM Panels Are Essential for Your Online Success

  • General
    Best Maids Services Near Me

    Get Your Home Spotless with the Best Maids Services Near Me

    Flight Training

    Flight Training 101: Everything You Need to Know

    Punching Bag Online For Boxing

    Buying The Perfect Punching Bag Online For Boxing -Tips And Suggestions

    decorate outdoor

    5 Outdoor Decorating Trends That Are Shaping 2023

    How Long After A Vasectomy Can I Drive A Car

    How Long After A Vasectomy Can I Drive A Car

    Preparing For Your First Client Meeting

    10 Tips On Preparing For Your First Client Meeting

    Damon Salvatore Rule 34

    Damon Salvatore Rule 34: Everything You Need To Know 

    Online Radio Proxy

    Use An Online Radio Proxy To Listen Anywhere In The World

    best coffee bean grinders

    Coffee Packaging Guide for Summer 2023

  • Reviews
    Development of Cryptocurrency

    A Crypto.com Overview

    Ophthalmology eyesight examination

    Red Light Therapy Devices for Eyes: Where to Buy

    text to speech

    Best Text to Speech Converters Reviewed

    air purifier

    Where Can You Find the Best Air Cleaner Pro Reviews?

    How to Choose a Cheap Hosting

    Liquid Web Reviews: A Look At A Reliable Hosting Company

    Ionic Training

    Get Ionic Training and Improve Your Career Options

    Learning Experience

    Salesforce DX myTrailhead to Customize the Learning Experience

    Best Web Hosting Services

    10 Best Web Hosting Services 2018

    Honey Chrome Extension Review

    Honey Chrome Extension Review – Is It Scam Or Real?

  • Featured
No Result
View All Result
Twollow
No Result
View All Result

What Are the Advantages of Virtual Payment Cards? 

by Haris V.
June 3, 2021 - Updated on October 6, 2022
0
Advantages of Virtual Payment Cards
Share on FacebookShare on Twitter

Does it feel like B2B payments are more cumbersome than they need to be? Consider adding a virtual card system to your business to make it easier for your team to make the payments they need to without the risk of unauthorized spending.

What Is a Virtual Card?

A virtual card is a digital credit card. For each transaction, a unique credit card number is created for the authorized amount. The credit card number works just like one from a regular, traditional card. Simply input it the same way you would when paying by credit card online with a physical card. Since each card is unique, the resulting charges can be automatically reconciled.

The unique, one-use card numbers are also far more secure than traditional cards. A traditional card is often used by several team members. This means that it can be hard to trace the source of a particular charge. Additionally, card numbers can be compromised, leading to unauthorized spending from someone outside your business. Virtual cards keep the real card number protected so that they can’t be used by people outside the business.

There is no limit to the number of virtual card numbers that can be generated. So, instead of wasting time wondering who has the physical card, team members can simply make the purchases they need without any hassle. The limit on virtual card spending means tighter control of your budget, as well.

Reducing Your Accounting Team’s Workload

The accounts payable process can be convoluted. When using traditional cards, it’s necessary to chase down who is responsible for a specific charge. Reimbursing employees who submit spending reports can be tedious.

With a virtual card, the accounting team can code and approve the charge as part of the purchase order process. This can occur before the virtual card is even issued, which means that the transaction can be reconciled automatically, reducing the need for hands-on work.

One-time or infrequent suppliers can also be shifted to virtual cards to avoid the time that would otherwise go into a bulky invoicing process. Since the supplier is paid when the card number is generated, there is no need to onboard the supplier into the system or process their invoices.

Cut the Risk of Fraud and Unauthorized Spending

With a traditional card, you have to carefully guard your card number. One swipe in the wrong business can lead to skimmers getting access to your information. The result is hours lost disputing the charges and time spent waiting for a replacement card.

With virtual card numbers, you have far more control over who gets access. You can give a virtual number to an employee who you might not otherwise offer access to the business’s regular card. Also, once a card number is used, it is no longer viable, which keeps your accounts more secure.

Cut the Cost of International Payments

Often, the best prices on the supplies that you need can be found through overseas providers. However, cost advantages can disappear once international payment fees or wire transfer costs come into play.

The right virtual card provider can give a company access to bank partners in a wide range of countries. This means that funds move faster and you’re less likely to get stuck with unnecessary fees.

Maximize Rewards and Rebates

Each iteration of the virtual card links back to the original traditional credit card. This means that it is much easier to hit the spending levels required by many reward and rebate programs. Over time, this can add up to substantial savings for your company, since many more payments can be routed through a single card.

Additionally, if you are working with suppliers that offer early-payment discounts, a virtual card makes it easier to take advantage of. Since the card number is created before they’ve ever issued an invoice, you can be sure that you’ll hit the deadline and cut your costs.

Between cost savings and reduced workload, virtual card services can quickly pay for themselves. Run the numbers to figure out how this sort of service can help your business run more smoothly and efficiently while protecting your sensitive financial information.

Haris V.

Haris V.

Haris is the Senior Tech Editor for Twollow and a noted duck fat enthusiast. He lives in Portland, Oregon with a slightly hostile cat.

Related Posts

ATS Software
Tech

ATS Software & How it Works

As an HR professional or business owner, you understand the challenges involved in the recruiting and onboarding process. Application Tracking...

by John Morris
May 19, 2023
Tips for Working with Your Web Designer
Tech

7 Great Tips for Working with Your Web Designer

A great website is now essential for businesses of all sizes as the world grows more digital. A professionally designed...

by Haris V.
May 18, 2023
Virtual Event Software
Tech

Virtual Event Software: What Is It and How Does It Work?

In today's fast-paced world, where everyone wants things to be accessible and convenient, events have also undergone a significant transformation...

by John Morris
May 17, 2023
How Many Questions Can You Ask Chatgpt In An Hour
Tech

How Many Questions Can You Ask Chatgpt In An Hour

ChatGPT is an advanced chatbot designed by OpenAI that uses machine learning algorithms to understand and respond to human language....

by Tom Fogden
May 10, 2023

Recommended

Best Maids Services Near Me

Get Your Home Spotless with the Best Maids Services Near Me

May 23, 2023
Academic Success

Academic Success – 5 Good Habits To Help You Through College

May 22, 2023
Food Delivery Apps

Why White-Label Food Delivery Apps Are Best To Start in 2023

May 19, 2023

Who We Are

Twollow is one of the leading tech and business blogs, that is dedicated towards updated Technology & Business news, reviews, Apps, how-to, smart tricks, and tweaks.

Follow Us

  • Facebook

Categories

  • Apps
  • Business
  • Education
  • Featured
  • Finance
  • General
  • How To
  • Marketing
  • Reviews
  • Security
  • Tech
  • Uncategorized

Top Posts & Pages

  • 100+ Free Premium Minecraft Accounts & Passwords (Tested 2023)
    100+ Free Premium Minecraft Accounts & Passwords (Tested 2023)
  • The Importance Of Product And Material Control For Your Business
    The Importance Of Product And Material Control For Your Business
  • How Much Weight is Allowed in a 20 ft and 40 ft Container?
    How Much Weight is Allowed in a 20 ft and 40 ft Container?
  • Hemp vs. Cannabis - what’s the difference?
    Hemp vs. Cannabis - what’s the difference?
Best Maids Services Near Me

Get Your Home Spotless with the Best Maids Services Near Me

May 23, 2023
Academic Success

Academic Success – 5 Good Habits To Help You Through College

May 22, 2023
Food Delivery Apps

Why White-Label Food Delivery Apps Are Best To Start in 2023

May 19, 2023
  • About Us
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • Disclaimer
  • Cookie Privacy Policy

No Result
View All Result
  • Home
  • Security