Purchasing card use has risen dramatically in the past years as companies seek to reduce the friction and paper in making purchases. Yet there are multiple benefits that a virtual card has to offer that a purchasing card does not.
Virtual Cards alone are:
- Are unique for each transaction
- Are activated and assigned to designated payees only
- Carry a specific maximum dollar amount that will ever be authorized
- Can pay approximately 1% cash back each month on payments issued through your A/P process
In addition, the right virtual card programs provide General Ledger clearing information for ease updating your records.
To find out more about the best ways to use V-Cards, tell us more about you.