Virtual Card Payment Solutions
Simplify paying your suppliers while adding extra security with FNBO's virtual card payment solution.
Simplify paying your suppliers while adding extra security with FNBO's virtual card payment solution.
Unlock the strategic value in electronic payments with a virtual card solution.
Limit your company’s exposure to fraud by decreasing check volume with virtual card and customizable controls.
Leverage payment automation to streamline payables and increase working capital.
Let us do the work for you! We will contact suppliers you choose to capture payment instructions for virtual card programs.
From implementation to ongoing account management and customer service, all facets of your card program are run by the dedicated team at FNBO.
What is a virtual card?
A virtual card is a digital commercial card that can be used for business purchases. When using a virtual card, a one-time use credit card account number can be easily generated and sent to suppliers electronically for payment. Virtual cards reduce fraud risk and streamline the accounts payable process.
How can my business use a virtual card?
Virtual cards have the flexibility to be used for one off payments or automated payments using batch files, depending on your business’ needs.
How do virtual cards reduce fraud risk?
When using our virtual card solution, you can use either one-time use or reusable card numbers with extensive controls.
How are virtual cards more efficient than paper checks?
Using checks for payments not only makes your business more susceptible to fraud but it is also more expensive. In addition to the labor costs of operating check runs, when using checks your business is also paying for materials and postage—not to mention potential mail delays that may slow down your payments.
How do virtual card solutions optimize cash flow?
Using FNBO’s virtual card solution can help shorten your business’ cash conversion cycle and optimize cash flow. By taking advantage of the payment terms related to a card program, you are able to extend your Days Payable Outstanding and hold onto cash longer.
Is a virtual card solution right for my business?
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. Contact our team to get started.
By using virtual card, you can automate your payables process, simplify the reconciliation process and pay suppliers securely.
1 Source: 2022 RPMG Virtual Card Benchmark Survey