7 benefits of virtual cards for businesses

Virtual cards for businesses are one of the most credible digital payment solutions companies can use to clear accounts payable. Recently, they have become the sensation of the B2B payments world due to their versatility and secure nature. A company can create as many cards as possible and assign them to their respective vendor or any payment motive they have.

With virtual cards, you have your card details protected, unlike a physical card openly exposed to anyone. They are so convenient to create and maintain budgets to insist on spending control.

What is a virtual debit card?

Virtual debit cards are similar to the ATM cards we have for our bank accounts, except that these are for business usage. With virtual debit cards, companies load a certain amount to their business bank account balance, which is reflected in their overall card balance. So, while making transactions using virtual debit cards, you pay from your own company money.

benefits of virtual cards for business

What is a virtual credit card?

A corporate virtual credit card is like a typical credit card where your card management platform will add a credit amount to your card. Let’s say there is $50k added to your balance. You create a virtual credit card, assign budgets, make payments and pay the amount spent at the end of the payment period.

benefits of virtual cards for business

What are the benefits of virtual cards over physical cards?

Streamline accounts payable process

Virtual payment cards is an effective replacement for orthodox and inconvenient paper and labor-intensive tasks.

With virtual cards, the members of the accounts payable team have to direct their energies towards financial planning and other responsibilities.

This saves time and decreases the vulnerability towards human error, and streamlines the whole accounts payable process. Virtual payment cards help the AP department in overcoming the challenges of the payment process.

Improved accountability

You no longer need to worry about mystery payments or chase down the accounts department to get receipts of the payments processed. Because every expense to be made and made is categorized, labeled, and neatly organized. With the clear visibility that virtual cards for businesses offer, there is increased transparency and accountability.

As there are several virtual cards for each payment category, you have visual data of how your money is spent. Since everything is neatly recorded, your accounting will have no trouble tallying and reconciling this to the overall financial statement.

Improved security

Perhaps this is the feature that shows how virtual payment cards are better than physical cards. Since they don’t exist like physical cards, it’s nearly impossible to steal them or use their information without consent and you can issue one-time cards too. So there is no way they can use the same card in the future for any fraudulent activities.

Here you can freeze, cancel or delete a card instantly when you realize a security breach or compromise. Like any other digital payment solution, virtual cards can get subjected to illicit actions. But overall, they are safer than different payment modes given the above scenarios, because every created card functions independently.

Eases the tracking and reconciliation burden

Only the finance team knows the pain associated with running behind teams in an attempt to find receipts and payment intentions. It can be challenging for them to find and track why the accounting team has made a specific payment and where the receipt or invoice is. The good news for them is that virtual cards come with clear labels. And there is also an expense code for them to track.

With labels and codes, It’s easier to see who the payment is made for and who initiated it. You can also submit receipts while paying a bill through a virtual corporate card. Through software integrations, every payment made using virtual corporate cards can be synced with the general ledger. Both automated and manual syncing are available for the admin to choose and enable. Virtual cards indeed make their lives easier.

Better spend control

Over the years, one thing that every organization has strived to follow is cost-cutting and expense management. They know that making budget charts or cutting down subscriptions will never work in the long run. With a bank-issued physical card, you will never know how much is spent or how often it has been swiped. And the same goes with any other traditional mode of payment.

But with virtual corporate cards, you can set up cards for each expense and designate budgets. It doesn’t allow you to spend beyond the assigned budget and notifies you about how much is remaining. If more money is needed, that goes for primary and secondary levels of approvals. Now you can see how much control you have over what is spent and prevent unnecessary expenses swiftly.

Can generate single or multi-use cards

A business handles a variety of accounts payable. Some payments, where they just have to pay once, and others have to be frequent. In the case of physical cards, issuing a single usage is not possible. And blocking a card after use can take weeks after raising a request.

But virtual cards for business give you the privilege of marking a card for single use or multiple uses. This feature will lend you a hand in fostering employee benefits to your employees. Make the virtual credit card or debit card work for you the way you want to clear off your transactions.

Simplifies vendor management

You can create virtual payment cards in your card management platform based on the number of vendors you have. This way, you see the total number of vendors your company has across all departments and how much money is spent on them. This visibility over accounts payable is also advantageous when you are working on expense analytics and insights.

Virtual cards for business are more favorable than physical cards, weighing all the above factors. Timely payments are another guaranteed feature, and your vendors will love you for this. In short, virtual cards are cut out for vendor payments, notwithstanding the number of vendors your company has.

Empower your team with smarter corporate virtual cards from Volopay

Will virtual cards replace physical cards?

We cannot come to a conclusion that physical cards are not utilitarian at all. They have their perks too. They are too efficient for personal spending and in-store purchases; Whereas, virtual cards are for convenient payment sources like online purchases, e-subscriptions, and electronic money transfers.


The benefits of virtual cards are a step ahead and protect the original account information from online thefts, physical cards symbolize brand value. Issuing multiple cards is a child’s play with virtual cards, but it can take substantial time if you want numerous physical cards. Put together, for a successful financial structure; a business needs both physical and virtual cards.

expense tracking

Try out Volopay's corporate cards for your business

Volopay corporate cards for business offer you the best of both worlds as you can have physical and virtual cards. Our virtual corporate cards are best for your business because you can make either single payment, recurring subscription payment, and even vendor payments with them.

The card management platform is neat and visualizing where you can see the physical and virtual cards distributed, their balances, budgets, name, and so on. If a card is no longer in use, you can delete that or freeze the user.

With a single click, you can create a new virtual card and set up budgets, make it ready for transactions, and enjoy the benefits of virtual cards. The admin receives notifications for every transaction that occurs through the cards. So there is the right level of control flowing around.

Volopay virtual corporate cards are incredibly safe. Here is how! Each virtual card has a unique number, and if any fraudulent activities occur, other cards are safe and untouchable.

\The user can request funds if they need and it goes through a level of approvals. And in no time, they have the money they need in their account. Volopay virtual corporate cards are changing how companies make their online transactions while acknowledging the pain points finance teams and employees go through.

Wait no more, get your corporate credit card program from Volopay today itself!


How is virtual payment cards different from physical cards?

The only difference between a physical and a virtual card is that the formal one has a physical appearance, but the latter doesn’t. You can create virtual cards online from your card provider’s platform. It looks exactly like a physical card with a card number, name, and other details. They can be used while making online purchases and payments.

How does a virtual credit card work?

A virtual credit card work very similar to regular credit cards. The only difference is that the former exists in electronic forms. It can be created online through your card provider platform. Each card will have its own card number and CVV. Using that, you can schedule or make online payments.

How can virtual cards help with better expense management?

Virtual cards can be created for each expense category. Expense management can’t get easier than this for businesses with numerous ranges of expenses. All the expenses can be tracked within the same platform. As cards are linked with departmental budgets, monitoring departmental spending is feasible. Without importing expenses to a sheet or making graphs, you can see how much each department is spending.

Is it safer to use virtual payment cards?

Virtual cards are extremely safe to use for business purposes. Each virtual card acts independently and is not related to other cards created together. If a card's details are exposed, it can be safely expelled from the system without affecting other cards. As it’s possible to track centrally, no employee can use them for unauthorized purposes.

How many virtual cards can be assigned with Volopay?

Volopay offers unlimited virtual cards that you can create, use, and distribute. No matter how many cards you have, you can manage them from the same dashboard. You can tag each card to a budget and department for clear tracking purposes.

Rakuten logo
MR Yum Logo
Polygon logo
CoinDCX logo
Cialfo logo
Zipmax logo
HealthifyMe logo

Trusted by finance teams at startups to enterprises.

Meet our customers

Get Volopay for your business

Get started free
Get started free