Corporate cards

5 best virtual credit card providers in Australia (2024)

Apr 05, 2024

With virtual credit cards growing in popularity, it’s no surprise that many businesses are also looking to use virtual cards as an alternative payment method to make expense management easier.

Benefits like simpler employee expenses, better reconciliation, and enhanced security are pushing business owners to look at the best virtual credit card providers Australia has to offer to take advantage of these features.

What is a virtual credit card?

A virtual credit card is a digitally stored credit card with a 16-digit unique number that you can use to make online purchases. By adding your virtual credit card to your digital wallet, you can also use them for in-store payments.

Virtual credit cards eliminate the physical component and allow you to carry your cards digitally. So long as you have a device connected to the internet, you can access your card to make payments from anywhere.

Related read: What is a virtual debit card and how to get one for your business?

5 best virtual card providers in Australia in 2024

1. Volopay

Features & benefits

Volopay’s virtual corporate cards can be the answer to your business expense management. With unlimited virtual cards, you can manage your subscription and create vendor-specific cards to make sure that you don’t miss any payments.

Every virtual card transaction is also updated in real-time, ensuring that there’s no data lost or unrecorded. The Volopay platform is easily accessible through a web dashboard or mobile app, making it easy to track payments, set spending limits, and freeze or block cards if needed.


Volopay users have said that the platform is very easy to use, including issuing virtual cards to employees. Managing expenses is also made simpler with Volopay. On G2, Volopay has a rating of 4.3 out of 5.

2. Commonwealth Bank

Features & benefits

As one of the biggest banks in Australia, Commonwealth Bank is one of the best virtual credit card providers Australia has. Targeted toward medium to large businesses, Commonwealth Bank allows you to use single-purpose virtual credit cards to manage your spending.

You can generate cards for travel and procurement, which will help in segregating each expense purpose and let you track and manage different budgets better. 

Paying your suppliers can happen faster with Commonwealth Bank’s virtual credit cards, while your employees who travel will get controlled spending without shelling out their own money.


You will need to be a Commonwealth Bank customer to get virtual credit cards for your business.

Different business credit cards with Commonwealth Bank will have different annual fees and additional charges, so your virtual card fees may depend on the card program of your choice.


Commonwealth Bank is a reputable Australian bank to choose as your banking partner, with many different business credit card programs. Due to this, many would trust Commonwealth Bank as a virtual credit card provider.


Features & benefits

With HSBC, you can get commercial cards designed specifically for your business. They offer virtual cards as a card-free solution to make payments, allowing you to manage your finances without having to carry around physical plastic cards.

All your cards can be managed through HSBC’s Virtual Cards Online Portal.

Get better control and security with HSBC’s virtual cards. You’ll have access to fraud protection and zero liability if your card gets misused. With an online portal, creating, managing, and tracking your cards can be done easily.


To find out about HSBC’s pricing details, you’ll want to get in touch with the bank about your virtual card needs.

Your business will likely have to be an HSBC customer to start using their virtual credit cards for corporate expenses. Keep in mind that you may have international transaction fees as well as annual fees.


As a bank that operates globally, HSBC offers its services to businesses all around the world. Experts have favorable reviews of HSBC’s business credit cards, making their virtual counterparts worth looking into.

4. Weel

Features & benefits

Weel offers Mastercard virtual cards that you can use in conjunction with the Weel platform to manage your business expenses.

When your employees make transactions using their Weel cards, they will be prompted to add receipts onto a mobile app, allowing you to make sure all transactions are recorded accurately without having to sift through paper receipts.

However, it’s to be noted that Weel’s virtual cards will require you to load funds into your Weel account before you can start using them.


To start using Weel’s Mastercard virtual cards, you will need to have a Weel account, which you can get starting at 119 AUD per month. Other pricing options with Weel are at 340 AUD/month and 2025 AUD/month. There are additional user fees that you also need to keep in mind with Weel.


Many users have claimed that Weel is easy to use and helpful for expenses like subscriptions. Weel has a rating of 4.6 out of 5 on G2.

5. Airwallex

Features & benefits

Get virtual cards in multiple currencies with Airwallex. You can make payments globally without having to worry about transaction fees while also getting low FX rates. With Airwallex and Visa, your cards are guaranteed to be accepted worldwide, making conducting international business easy.

All your Airwallex cards can be managed through an app, allowing you to create and manage multiple cards and track all your transactions. A Xero integration is also available with Airwallex for simplified accounting.


Airwallex’s pricing details will be available to you after speaking to a sales representative about your business and its specific requirements. Most features and virtual card generation will be free of charge once you have an account, with additional costs if you wish to order physical cards.


Users find that Airwallex makes it easier to pay in different currencies and has low fees. However, most users also seem to use the platform more for its international transfer features than just their virtual cards. Airwallex is rated 4 out of 5 on Trustpilot.

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Importance of virtual credit cards for businesses

1. Easy to use

Generating, activating, and using a virtual card is fairly simple. With a card management portal or dashboard, you’ll be able to create a new virtual card in just a few clicks. All you need to do is assign a cardholder and determine its limits.

Activating the card can be done on the same platform almost instantly, too. Once your card has been activated, you can immediately use it for transactions by inputting your card details when prompted to pay.

2. Highly secured

Unlike physical cards, you don’t run into the risk of losing, misplacing, or damaging your virtual cards. With no physical plastic card to carry around, you also won’t have to worry about having your card stolen.

Most virtual credit card providers will have bank-standard encryptions to combat cybercriminals as well. On the off chance that someone unauthorized gets their hands on your card data, having an online card management platform will help you freeze and block your card immediately to cut off exposure.

3. Vendor payments

Many vendors have started accepting card payments, meaning that you have more options available to simplify the way you do your payments.

Instead of having to ask for their bank account, input your vendor details, and initiate bank transfers, using virtual cards is a simpler alternative for paying your vendors.

4. Streamline accounts payable

It’s likely that your business will have multiple vendors and subscriptions—most of which with recurring invoices—that you’ll have to manage.

With a long list of vendors owed that you’ll have to take note of, your accounts payable can get messy real quick.

Luckily, virtual credit cards are a solution to streamline your processes and get things done faster without compromising control.

By assigning vendors and subscriptions individual cards, you can easily view which card is used for which transaction and filter out which payments have been done.

5. Manage reconciliation

Unlike cash payments, it’s easier to make sure that you record your card payments accurately. When every card transaction is reflected on your card management platform automatically, you won’t have to do manual data entry anymore.

Even better yet, reconciling your card transactions with your ledger can be much easier with two-way sync features. The best virtual credit card providers Australia has to offer will provide you with integration options with your accounting software of choice to make reconciliation hassle-free.

6. High transparency on spending

You won’t have to worry about untracked transactions with virtual cards. Not only are they easy to use, but they’re also easy to record transactions with. Every transaction you and your employees make on your virtual credit cards will be reflected in your card management system.

You’ll always know the when, where, and why for every virtual card transaction. Achieve a greater level of visibility and ensure that there’s always high transparency when employees are making expenses, resulting in less out-of-policy spending.

There are lot more benefits that businesses can get by using virtual cards. Read our blog to know in detail about the use cases of virtual cards.

Things to consider while choosing virtual card for your business

Choose the provider that best suits your needs

It’s your business needs that will determine the best virtual credit card providers. Australia has many virtual credit card providers for you to choose from, but rather than picking the most popular provider just for the sake of it, it’s best that you note down what your business needs are.

You’ll be able to figure out which provider is the most suited to what you are looking for after a little research.

Spending restrictions & limits

It can be daunting to assign virtual credit cards to your employees to make expenses on behalf of your company. However, the best virtual credit card providers Australia has to offer will help you make sure that you have full control over your business spending.

Look at what kind of spending control features different virtual credit card providers have to offer and see if one has all you need.


There will be different kinds of fees involved in using a virtual credit card for your business. While some fees may be high, providers that can offer you features that are worth their pricing are the best virtual credit card providers.

Australia has many card provider options available to you. You want to compare different provider pricing plans and see if you can get the most affordable option without sacrificing the features you need.

Integration compatibility

Managing your expenses effectively can require many tools, starting from virtual credit cards to accounting software. However, things can get messy and disjointed if you don’t have a system in place to ensure that all your tools work together.

You want to look for virtual credit card providers that offer integration with various other tools, particularly accounting software to ensure that your bookkeeping goes smoothly.

International transfer

If you do a lot of business with foreign suppliers and vendors, it’s a good idea to have virtual credit cards that are accepted globally. This enables you to easily make international payments without relying on wire transfers, which can cost a lot of fees and time.

You can also make business travel payments easier when your virtual cards can be used outside of Australia.

Related read: All about international money transfer regulations in Australia

FX rates

It’s not only global payment capabilities that you want to consider when you’re looking into virtual credit card providers for your business. FX rates and international transaction markups are just as important.

The last thing you want is to apply for virtual cards to do international transactions only to find out that the foreign exchange rates are higher than you expected, especially when it’s a primary use case. Make sure you know that you can get the best rates.

Access to multiple cards

One of the biggest advantages of virtual cards over their physical counterparts is that you can generate as many virtual cards as you need and streamline your expense management by issuing vendor, subscription, or project-specific cards.

The best virtual credit card providers Australia has to offer will be able to give you access to this feature. Ensure that your virtual credit card provider of choice allows you to easily generate multiple cards.

Check for liabilities

Business credit cards in Australia come in two types. While your company will be liable for corporate liability card repayments, personal liability cards have each individual cardholder as the responsible party for making repayments.

Make sure that you know which is applicable to your provider of choice when researching for the best virtual credit card providers. Australia has business credit card providers of both liability types.

Enhanced security

One of the big reasons why businesses are making the switch to virtual credit cards is because they offer an added layer of security by only existing electronically.

That being said, you want to make sure that your virtual credit card provider has industry-standard certifications and stores your data securely. You also want additional security features, such as the ability to freeze and block cards immediately when needed.

Choose Volopay cards for your business

Doing business in Australia is made easier with Volopay. By equipping your employees with Volopay virtual cards, you can simultaneously empower your team and make business transactions easy while also maintaining control over all your spending.

Get a secure payment method to eliminate fraud risks and out-of-policy expenses.

Volopay virtual cards are in compliance with the ASIC standards of security with bank-grade encryption, ensuring that all your data is safe.

By generating single-use virtual cards, you can also guarantee that merchants don’t have access to your card or bank account information.

Complete with in-built spend control features like individual card limits, custom expiration dates, and card blocking, you can control your cards and employee expenses from anywhere at any time through your card management dashboard.

All your virtual cards will be linked to one platform, encouraging easy tracking, better transparency, and more control.

Use one of the best virtual card providers Australia has to offer to manage your vendors and subscriptions. Create vendor-specific cards and set up recurring payments to ensure that all your payments are on time.

With card expenses automatically recorded on your dashboard, you’ll never have to worry about untracked transactions. Managing anything from digital marketing ad expenses to one-time equipment purchases is easier than ever with Volopay.

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Simplify expense tracking and improve cash flow with Volopay
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