Virtual cards are becoming an increasingly popular payment solution for businesses of all sizes. These digital cards offer a range of benefits, including enhanced security, improved control over expenses and the ability to make transactions online. In this article, we will explore the top 5 ways that businesses can use virtual cards and introduce Swipey, a leading virtual card provider that offers a range of features to help businesses manage their expenses more effectively.
What is a Business Virtual Card?
Business virtual cards are digital payment solutions that are used to make purchases, pay bills and manage expenses. These cards are issued by financial institutions and can be used for a range of transactions, including online purchases, subscriptions, and travel expenses.
Virtual cards are generated for a single transaction or for a limited period, making them more secure than physical cards. Virtual cards also provide businesses with greater control over their expenses, as they can set spending limits and track transactions in real-time.
How to Use Virtual Cards for Business
- Online Purchases
One of the main advantages of virtual cards for businesses is the ability to make online purchases. With virtual cards, businesses can easily make purchases from online retailers and service providers, without the need for a physical card.
Virtual cards also offer a higher level of security for online purchases. Each virtual card generates a unique number for each transaction, reducing the risk of fraud and unauthorised transactions.
- Subscription Services
Many businesses rely on subscription services to manage their operations. Virtual cards can be used to pay for these services, providing businesses with greater control over their expenses.
Virtual cards can be generated for a specific period or for a single transaction, allowing businesses to manage their subscriptions more effectively. Businesses can also set spending limits for each virtual card, ensuring that they do not overspend or make unauthorised purchases.
- Travel Expenses
Employees can use virtual cards to pay for travel expenses, such as flights, hotels, and car rentals.
Virtual cards can be set up with spending limits, ensuring that employees do not overspend or make unauthorised purchases. Businesses can also track travel expenses in real-time, allowing them to manage their expenses more effectively.
- Vendor Payments
Businesses can issue virtual cards to vendors for payment, providing a more secure and efficient payment solution.
Virtual cards can be generated for a specific payment or for a limited period, allowing businesses to manage their vendor payments more effectively. Businesses can also set spending limits for each virtual card, ensuring that they do not overspend or make unauthorized payments.
- Employee Expenses
Virtual cards can also be used to manage employee expenses. Businesses can issue virtual cards to employees for expenses such as meals, transportation, and supplies.
Virtual cards can be set up with spending limits, ensuring that employees do not overspend or make unauthorized purchases. Businesses can also track employee expenses in real-time, allowing them to manage their expenses more effectively.
If you are interested in using virtual cards for your business, you can check out Swipey. We offer a range of tools to help businesses manage expenses more effectively, including enhanced security, improved control over expenses, and real-time transaction tracking. You can also watch Swipey’s short demo to learn more about Swipey’s financial operations system.
Sign up for Swipey today and start experiencing the benefits of virtual cards for your business!