Summary
Do you think virtual cards and digital wallets are the same thing?
Have you asked yourself what is tokenization and how a tokenized card can be used for B2B purchases?
Can you imagine cryptocurrencies to be soon used in virtual B2B payments?
These are just some of the questions that we've discussed with our special guest Clive Cornelius, Head of Travel at Visa Europe in Virtual Cards Explained. Together with him, we did a deep dive into the world of payments and discussed different trends and use cases.
Key Takeaways
Businesses use virtual cards mainly to:
- manage online subscriptions,
- control advertising spend and
- as a payment method for procurement teams.
In fact,
- the ease of issuing,
- having access to company funds remotely and
- the transparency of all transactions
make this payment method an essential tool for companies of all size. They can be used in all departments, but are particularly useful for Marketing.
On top, virtual cards are a pretty secure payment method for businesses - not a very well known fact. One of the reasons herefor is that it's harder to get stolen like its physical equivalent.
Agenda
- What is a virtual card for business? Types?
- How is it different from a digital wallet (i.e. Apple or Google Pay)?
- Pros and cons for the business
- New use cases and opportunities for businesses
- How can virtual cards help your company during the COVID-19 crisis?
We are regularly writing about the usage of virtual cards for business. If you need more insights on how you can rent a car or book a hotel or you need some advice on the best practises for business travel, go ahead and read our blog.
Interested in our corporate cards for your business? Ask your questions anytime **HERE **or schedule a demo with the team.
