A Virtual Card is essentially a digital version of a traditional payment card. It features a unique, 16-digit card number, security code, and expiration date but without the physical plastic form. These cards can be used anywhere a traditional card is accepted.

Use virtual cards to make business purchases such as paying suppliers/vendors, direct and indirect spend, one-off payments, recurring payments, or to mimic existing check or ACH spend.

When using our virtual card solution, you can use either one-time use or reusable card numbers with extensive controls such as defined spending limits and expiration dates. They can also be deactivated quickly and a new one generated, which provides greater control over spending.

Virtual cards eliminate multiple inefficiencies associated with paper checks:

• Reduced processing time: Electronic payments are processed in minutes rather than days
• Lower administrative costs: No printing, signing, mailing, or reconciling paper checks
• Automated reconciliation: Transactions automatically sync with accounting systems
• Enhanced tracking: Real-time visibility into payment status and cash flow
• Decreased fraud risk: Virtual cards provide stronger security features than paper checks
• Environmental benefits: Elimination of paper waste and related resources

Additionally, in 2024², 63% of organizations experienced check fraud — an issue that demands significant time and resources to resolve.

Shorten your business' cash conversion cycle and optimize cash flow. Leverage float by using a card program and earn the benefit of a rebate for virtual card spending.

To see if a virtual card solution is right for you, our team will review your organization’s AP spend with you to see how a virtual card may help your business's. Contact our team to get started.