Virtual payment cards
In association with Barclaycard
The traditional plastic procurement card has evolved, with virtual cards now offering multiple ways of introducing ease of payment for buyers and access to ready cash for suppliers.
Virtual cards are proving particularly useful in the long-tail spend area, where the costs of conventional supplier onboarding and purchase order processes would simply be disproportionate to total spend.
They can also provide better spend controls by requiring authorisation before the expenditure is incurred, while suppliers with Level 3 data capability are able to provide customers with greater transparency with electronic detail that simplifies cost analysis and tax compliance.
Every business has a sales strategy. But does it have a payments strategy? Download this Insight Report and find out:
- the various ways that buying organisations can use virtual payment cards;
- why suppliers see benefits in accepting payment by virtual cards; and
- how ‘being easy to do business with’ is an important part of payments strategy and business success.