Benefits of using virtual cards in your business
For many years, the market of business credit cards has been growing at a steady pace. Many business owners have realized that their personal credit cards simply aren’t good enough to facilitate their company’s needs. The advantages of a business credit card are endless. On the contrary, there are endless benefits of business credit cards.
With the emergence of virtual cards, many are still unaware of their potential or haven’t even tried to use them in their business.
Virtual cards are convenient for business owners because they can be used anywhere that accepts major credit cards at any spot accepting major credit cards. If a customer needs to make a payment, you can simply send them a virtual card number to use at checkout.
Virtual cards are a perfect way for business owners to make secure payments online. They offer a number of benefits, including:
Fraud protection
Virtual cards provide a layer of security between your personal credit information and the merchant’s payment processor. That makes it much harder for fraudsters to access your financial data than with traditional cards.
You can generate virtual card numbers that are only valid for a single transaction, and then lock (freeze, block, or delete) the virtual card at the end of the process. Securely store your card numbers in our vault and manage all your cards from one place. everest is an innovative solution that allows you to manage all of your virtual credit cards in a single place. Track expenses, manage spending limits and be more informed about this usage here.
Real-time tracking
Manage where, when and how your team spends with virtual cards. With virtual cards, you can see exactly how much is being spent on each card from an online account dashboard or app. You can also set spending limits so that no one can spend more than they should — whether they’re authorized employees or not! With everest, you have full control via an online dashboard, you can track the daily activities of each virtual or plastics card.
Easy setup and management
Virtual cards are easy to set up and manage, typically requiring just a few seconds in order to get started with the right features for your business needs. And once the virtual card is set up, it’s quick and easy to manage transactions directly from your smartphone or tablet.
If you don’t want to carry your wallet with you, but still want a way to make payments, you can generate a virtual card on your mobile phone and use it for payment.
Global Acceptance
Virtual card numbers are accepted bymajor online retailers around the world, so there’s no need to worry whether your customers will be able to make purchases with their new virtual card number when shopping online or on websites — they’ll be able to use it everywhere!
Business Spending Goals aligned
With proper organization, virtual cards can help manage business spending and track costs to specific departments, employees, or business needs. Spending can be categorized by merchant, cash category and more for each individual employee or department.
By using a single everest account, you can invite your team to everest, where they can request cards and you can track their expenses. You will be able to order, close freeze or delete the cards, and set spending limits for your team, employees and accountant, all from your online dashboard.
These are only a few benefits of using virtual business cards that we mentioned, and let’s not forget their ability to reduce paper waste and increase convenience. With such potential for increased engagement, there’s really no reason for not taking an advantage of them.
If you still have some doubts about the advantages of virtual cards for your business, you can visit our website or reach us by email. We are here to help and answer any questions.
