Volopay virtual cards for growing businesses in India
The only method to manage your company's payments effectively is to use virtual cards. Using smart virtual credit cards for business from Volopay, manage your payments efficiently by making contact less payments at merchant checkouts as well as online.
Empower your employees by allowing them to make company purchases without having to pay using their personal funds.
Trusted by finance teams at startups to enterprises.
SaaS subscription management
By creating multiple business virtual cards, keep your SaaS payments under control and ensures that no numerous or outdated subscriptions get in the way of money management.
Keep track of budgets and payouts for each SaaS billing by creating a one-time or recurring payment card, or allocate a card particular to a vendor.
Safe and secure online payments
Our virtual credit cards in India are complaint with all the regulatory guidelines in the country. Issued by VISA, Volopay virtual business cards have the same encryption and security as any other bank-grade credit card. You won't have to share cards and worry about data leaks since you can generate an infinite number of virtual credit cards.
There is no risk of fraud because virtual credit cards are not linked to your company's bank account. For peace of mind, you can keep your cards organized and separated, load or freeze as needed.
Real-time spend visibility
Since your business virtual credit card is linked to your Volopay account, any transactions or expenses made with business virtual credit cards are updated immediately in your Volopay account. Every swipe and transactions made is recorded in real time.
You can track your spending data at any time and from any location. There's no chance of data loss, as you'll always know how much money is leaving the organization.
Set precise spending limits
Set spending limits for each card so you can keep track of how it's being used. Company spending policies are enforced by default, and any transactions that exceed a specific limit set by you will be declined automatically.
Also budget and an expiration date can be applied to cards. You have the option of having the funds refilled every month or just using them once.
Multi-level approval workflows
Create five levels of approvers, each of whom is responsible for reviewing spending and funding requests. This is a one-time setup, following which push alerts and fast payouts ensure that everything works smoothly.
Non-compliant virtual card transactions are automatically rejected, saving approvers time and effort.
Financial stack for business
No more switching between multiple bank accounts and tools to run your smart business. We have combined great software with every service you are using a bank for, to produce a state-of-the-art financial platform.
Empower your employees with physical and virtual cards
Manage and track every dollar that leaves your company
Open a global account with multi-currency payments.
Manage vendors, approve invoices and automate payments.
Save hours daily, and close your books faster every month.
Integrate with the all the tools and software that you use daily.
Benefits of issuing virtual cards to employees
Reduces reconciliation burden
Virtual card payments are easy to track and comprehend since these payments come with labels and codes. Finance team don't have to chase for receipts and explanations from the accounting team.
Also, these payments gets synced with the main ledger automatically and manually, thereby eliminating the need for human labor to reconcile card payments.
Easier vendor management
Depending on the number of vendors, create as many virtual credit cards as you want and assign them to individual vendors. You can easily monitor each card payment, make online payments quickly, and track separate department and vendor expenses hassle-free.
As you start working with more vendors, create more cards and make on-time payments.
Faster payment
Making business payments like ticket bookings, reservations, and fuel card recharges is quickest with virtual cards. Enter your card details and complete the payment without having to wait for approvals.
As virtual card payments are different from wire transfers, both cross-border and domestic transactions can be completed quickly.
Why choose Volopay virtual cards?
1. Compliance & security
With bank-level security and double encryption, Volopay is committed to protecting your data.
2. Easy to create
Create your virtual cards and get them assigned to a spending category or employee with just a few clicks.
3. No hidden fees
With no hidden fees charged during local and international payments, Volopay offers the best competitive exchange rates in the market.
4. Maximum control
You can create an unlimited number of virtual cards through your Volopay account, thereby making it an ideal solution for your business' growing requirements.
5. Unlimited virtual cards
Create unlimited number of virtual cards from the Volopay card management system, thereby making it an ideal solution for businesses to meet their growing requirements.
6. No need for personal guarantees
You don't have to submit your personal credit score or statements. We only need your business credit score, statement, and spending history to access your eligibility for virtual cards.
Volopay virtual cards to control your business spend
Create individual virtual cards
Time-consuming expense reporting process can become tiresome for employees. Issue virtual cards to your employees to help them make business spending by themselves.
You can create unlimited virtual cards and assign it to each of your authorized employees. It can help manage and control employee-related and departmental expenses better.
Set separate budget
Assign and manage the budget allocated to each department by internally linking your virtual card to a departmental budget.
Additionally, you can keep track of expenses related to a particular department and spot overspending. By directing departmental funds to card payments, you will get greater control over how company's money is used.
Keep track on employee expenditures
With virtual cards, employees can handle their business expenses without having to rely on accounting teams every time.
It also help accounting teams monitor employee spending patterns, making it easier to stay compliant with the expense policies. Any irregularities in expenses can be identified and notified earlier.
Set spend limits
Issuing individual virtual cards to employees empowers them to spend on their own. At the same time, you can limit their spending by setting spending limit.
You can also create virtual cards and only set needed limits in situation where expenses are uncontrollable.
Set multi-level approvals
Card owner can request for more credit if the expense needs exceed the set limits.
To authorize these requests, set up multi-level approvals. This will ensure that employees follow the spend guidelines of the company.
Automate subscription payments
Managing subscription payments can be challenging. Any failed or missed payment can result in you not being able to use the product further. Automating subscription payments with virtual cards helps eliminate such issues.
Once this is configured for a particular vendor, a fixed amount is sent automatically every month at a fixed date and time.
Get complete control over your business expenses
Learn more about Volopay
Volopay is a centralized business financial control center that combines innovative solutions such as smart corporate cards, AP automation, efficient automated accounting, approvals, and employee reimbursements.
Subscription management
Create payments and schedule them using our virtual cards for subscriptions to avoid late payments and service interruptions. Real-time tracking can help you avoid making numerous payments. Block and freeze options also protect you from spending for SaaS models that you no longer use.
Real-time visibility
Our business virtual cards allow tracking payments. Our expense-reporting system is entirely open and transparent. All of your transactions are updated as soon as they happen, providing you a complete picture of your cash flow. Everything is precisely documented immediately away, whether it's accounts payable or a simple swipe of a card.
Business credit
We offer a flexible business credit line for managing business investments, payrolls, and day-to-day office needs. These are really easy to secure, and you won't have to wait as long as you would for traditional commercial bank loans. Increase your revenue by spending intelligently.
Multi level approvals
Instill a sense of accountability by using maker-checker processes and approval levels. On the platform, you can set up up to five tiers of approvers, each of whom verifies and confirms that payments are right and nothing is done arbitrarily. Due to pre-set constraints, non-compliant transactions are immediately rejected.
Accounting automation
From the first card swipe until the closure of the books, accounting automation can greatly benefit your account structure. The world's most popular accounting software list seamlessly integrates with our platform for smooth reconciliation and data analysis. There's no need to sync manually. Simply connect the two systems and observe how they interact to keep your data up to date.
They loved Volopay, you will too
Explore more about virtual cards
Get to know the step by step guide on how to apply for a virtual credit card for your business in India.
Virtual debit cards are the digital version of conventional debit cards. Know in detail the benefits, types and how to get one.
Get to know in detail the benefits and working of a virtual credit card and how to apply one for your business.
FAQs on virtual cards
From your India account dashboard, you may request a virtual Volopay card. Simply go to the card section and click on Create Virtual Card. You'll need to enter certain information, such as the employee's name, card expiry date, department to which the card belongs, approval line, recurring vs one-time use, and so on. It's ready to use after you hit the generate button.
You can acquire your virtual card right away. The card is ready to use as soon as you generate it. It will remain valid until you set an expiration date for it, or unless an administrator blocks or freezes the card.
When it comes to spending, your virtual card is fully under your control. Administrators can assign up to five levels of approvers for expense verification and card loading requests. It works in a hierarchical manner, with first-level approval being followed by second-level approval, and so on, with approval only being granted once the highest level of permission has been cleared. You may also freeze and block cards, as well as set expiration dates for them, to keep track of your spending.
Yes, you certainly will. To make international payments, you can use any Volopay card, both virtual and physical. The amount you can spend will be limited by your company's spending policy. However, as long as the amount is approved, you can use it to make international payments.
Volopay provides its virtual credit card services to businesses. As long as the individual has a business of their own where they need to manage their expenses, they can apply for Volopay cards. Different criteria will be used to determine whether the individual qualifies for a Volopay virtual credit card.
A virtual credit card can be used for almost any online business expense. Similar to a physical card, it has a unique 16 digit number, CVV, and expiry date that need to be input when making an online payment.
Our physical cards support ATM withdrawal on the prefunded model.
Your company account approval's initial evaluation including credit approval is within 2 business days. We will advise you if any additional documents are required.
Once the company account is approved, you will need to complete each user's KYC, which happens within 24 hours.
As per RBI regulations, all financial and non-financial institutions need to undertake KYC for their customers for the issuance of PPI instruments.
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