WHAT ARE VIRTUAL CARDS?

NEW TO VIRTUAL CARDS? THEN START HERE

Virtual Cards are revolutionising the way every business pays its expenses. As an alternative to issuing company cards or cash advances, this highly secure, highly accountable form of payment has proven a far more cost-effective method. Below is an introduction to Virtual Cards and how simple they can be to implement:

THE BASICS

Virtual cards work in exactly the same way as a normal credit or debit card, the difference is, that they only exist digitally; there is no physical plastic card which carries the number. A unique Virtual Card is created for every new transaction that a company makes. This Virtual Card is then linked back to a single, central account for banking purposes.

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HOW EASY ARE VIRTUAL CARDS TO USE?

When making an online purchase, upon reaching the payment page, simply open a new browser window, log on to WebPay (or Conferma powered Virtual Card generation tool) and create a new card. Then, as with a traditional card, just copy the 16-digit Virtual Card Number (VCN), go back into the online purchase and paste it in the card number box. Do the same for the CVV number and complete the purchase. Job done!

WANT TO KNOW A LITTLE MORE?

This 2-minute film provides a clear description of Virtual Cards and their uses. It should enable you to give an overview at your next meeting, and even impress people with your knowledge at parties!

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HOW SECURE ARE VIRTUAL CARDS?

Every Virtual Card is designated for a single use. It is only valid for a certain merchant category, specific date range and either a set amount or set spend range. For example, a 16-digit Virtual Card number ending in 9712 with CVV 336 is valid for a spend of between £300 and £380 on a hotel between the 10th-14th of September. If these criteria are not met then the Virtual Card payment will not be authorised.

WHERE DO I START?

There are 3 ways to start using Conferma powered Virtual Cards: 

1. Through your bank; many banks already offer integration into our software. 

2.Through your corporate travel agency: we have relationships with a great number of global and national agencies. 

3. Direct, by using WebPay, our Virtual Card generation tool which enables businesses to create their own portal.* 

*You will need a card issuer that allows integration to our Virtual Card systems to do this.