Smart business virtual credit card to manage online spends
Business virtual cards are the only way to efficiently manage your company’s payments. The best virtual credit card Singapore has to offer to enable you to make online payments and control SaaS subscriptions. Empower your employees and give them financial autonomy and the flexibility to make corporate purchases without having to use their personal finances.
Trusted by finance teams at startups to enterprises.
Virtual cards for subscriptions
Create multiple business virtual cards for subscription management to keep your SaaS payments under control and ensure that no numerous or obsolete subscriptions get in the way of money management.
Make one-time or recurring payments card, or assign a card specific to a vendor to keep track of budgets and payouts for each SaaS billing.
Online payments are now safe and secure
Our virtual cards Singapore is governed by the Monetary Authority of Singapore, which issues licenses to Major Payment Institutions (MPIs). They are issued by VISA and have the same encryption and security as any other bank-grade credit card. Because you can create an endless number of virtual cards, you won't have to share cards or worry about data leaks.
Since virtual cards are not tied to your company's bank account, there is no risk of hacking. Keep your cards organised and separated, load or freeze as needed, and keep everything in one location for peace of mind.
Business-wide spend visibility
Our business virtual credit cards are linked to your Volopay account, so any transactions or expenses made using them are updated instantly. Every swipe, every transaction, is captured in real-time.
There's no risk of losing data, and you'll always know every dollar that leaves the company. Keep a track of your spend metrics any time and from anywhere.
Set and enforce spend limits
Set specific spending restrictions, allowing you to keep track of how each card is utilised. By default, company spending policies are applied which will auto-decline when any transactions exceed a particular limit pre-decided by you.
Cards can be assigned a set budget and an expiration date. You can choose whether the funds will be reloaded every month or if they will only be used once. Your business virtual cards are smart and reliable.
Multi-level approval workflow
Create five levels of approvers, each of whom checks expenses and fund requests. This is a one-time configuration, after which push alerts and fast payouts ensure that everything runs well.
Non-compliant transactions on virtual cards are automatically refused, saving time and effort for approvers.
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.
Learn more about our virtual cards
Volopay is a single, consolidated business financial control centre bringing together innovative products like smart corporate cards, AP automation, efficient automated accounting, approvals, and employee reimbursements.
With our virtual cards for subscriptions, create payments and schedule them to avoid late penalties or service interruptions. You can prevent making multiple payments by using real-time tracking. Furthermore, block and freeze options prevent you from overpaying for SaaS models that you no longer need.
Our business virtual cards allow tracking payments. Our expense-reporting system is completely transparent and accountable. All of your transactions' data are updated as soon as they occur, giving you a bird's-eye view of your whole cash flow. Whether it's accounts payable or a simple swipe of a card, everything is accurately recorded right away.
To satisfy your business spending needs, stop counting pennies. For managing business investments, payrolls, and day-to-day office expenses, we provide a flexible business credit line. These are really simple to obtain, and you can apply for them without having to wait as long as you would for typical commercial bank loans. Spend wisely to increase your revenue.
Using maker-checker processes and approval levels, instill a sense of accountability. You can create up to five tiers of approvers on the platform, each of whom verifies and ensures that payments are correct and that nothing is done arbitrarily. Non-compliant transactions are automatically refused due to pre-set limits.
Accounting automation can considerably benefit your account structure from the initial card swipe to the closing of the books. For smooth reconciliation and data analysis, the world's most popular accounting software list connects effortlessly with our platform. There's no need to manually sync. Simply connect the two systems and watch how they work together to keep your data current.
FAQs on virtual cards
For any registered company or its entity in Singapore, our team will help your business on board and set up the Volopay dashboard for you. You may request a virtual Volopay card. Simply go to the "Create Virtual Card" part of the card section and click "Create Virtual Card." You'll need to fill in certain information, such as the employee's name, card expiration 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.
Create the card whenever you want to and it is ready to use. It will remain valid until you set an expiration date for it, or unless an administrator blocks or freezes the card.
Your virtual card is completely under your control when it comes to spending. For expense verification and card loading requests, administrators can assign up to five levels of approvers. It works in a hierarchical fashion, with first-level approval followed by second-level approval, and so on, with approval only going through when the highest level of permission has been cleared. To keep track of your spending, you can also freeze and block cards, as well as set expiration dates for them.
Yes, you will. All Volopay cards, both virtual and actual, can be used to make overseas payments. Your company's expense policy will set a limit on how much you can spend. However, you will be allowed to use it for foreign payments as long as the amount is approved.
Yes, a virtual credit card is totally legal for banks and other providers to create after meeting the necessary requirements and for consumers to use them.
When you create a virtual credit card on a provider's platform like Volopay, the card number is automatically generated and visible to the owner/user of the card.
There are few banks and digital banks that offer an instant virtual debit card in Singapore. A better option most corporate choose is to go with providers like Volopay, who let you create virtual credit cards for your business.
Virtual credit cards are not linked directly to a bank account making them safer to use for online payments on any website.
A burner credit card is basically a one-time use card. These are usually digital in nature and are used for online transactions. Using Volopay you can create unlimited burner virtual credit cards for various different online payments.
The usage limits of a virtual credit card depend on the type of virtual credit card you create on the provider's platform. For example, Volopay allows it's user's to create one-time or monthly recurring virtual credit cards. Users can also choose a custom expiry date for it.
Latest news & updates
Read up on snippets of the latest news and reports on virtual cards in Singapore.
Becoming net-zero is no longer going to be enough; the world needs to also be “nature-positive” - a report just out has also posited that Asia could be at the forefront of worldwide net-zero efforts, with the financial services industry playing a critical role.
Some of the benefits of using virtual credit cards as eCommerce b2b payment method are 1. Cash rebates, 2. Improved security, 3. Easier subscription management, 4. Easy supplier payment, 5. Better expense management.
1. Virtual credit cards cannot be stolen or lost, 2. Online virtual cards are valid for a limited time period only, 3. Virtual credit cards are subjected to Payment Card Industry Data Security Standard (PCI DSS).
Advantages of virtual cards are 1. Reduced incidents of frauds, 2. Allows easy integration into expense management software, 3. Real-time spend visibility, 4. Easy and fast payment option for employees, 5. Increased control on expenses, and 6. Improved expense management.
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