In this digital world, as online transactions are becoming more prevalent, the need to pay with cards is also rising. You may have come across various digital payment methods, but here we will discuss virtual debit cards as these save your time, and they need not have any physical presence. If you are facing challenges while managing the payments in your business, then this is the apt choice. Why should you go for these? Let us find out!
Ideal for international payments
What is the average international transaction fee? It is approximately 3%. If your organization frequently needs to make international payments, then these charges can add up quickly. Virtual debit cards provide relief here. With these, you can make payments in local currencies at lower transaction fees.
One-time purchases are easy
If you are one of those who frequently buy things from new or upcoming businesses, then virtual cards can help you in making your transactions hassle-free. Moreover, you can set up your card to be blocked automatically if you feel that the card is unsafe or somebody is stealing the information.
Fraud Protection
Physical debit cards can be easily lost or stolen. However, this is not the case with virtual cards like this that feature electronic safety keys. As per the experts, these cards come with added security and scalability
Fact Check
Account theft is the third most common e-commerce fraud where criminals get access to your debit card and can purchase online things without even your knowledge.
Thankfully, this is not possible in virtual cards as these do not have any physical identity, and cannot be cloned.
Spending control
In addition to the security measures, these cards comes with a spending limit. Moreover, you can set up a date for the card to close. It is the popular choice in the case of businesses as they work on the principle of optimum utilization of resources. So, for optimum utilization, you can set up spending limits on these. It is the perfect way to know your spending patterns. Hence, it is not wrong to say that it is a lucrative option for the organization that provides its staff with personal spending limits.
Issues multiple cards at once
Some organizations have a team of employees who make purchases on behalf of the business. At that time, it becomes difficult to keep track on the spending of the employees. Also, if the employees are sharing one card, then the difficulty level again gets high. Because it becomes tedious to check who is spending most. Here the virtual debit cards are right at your beck and call. This gives you the facility of issuing multiple cards simultaneously. It clarifies all your doubts regarding who is spending what.
To sum it all up
In the current times, organizations highly need to go for methods that are beneficial and effective for their success. With the right mix of spending and payment methods, you can achieve your financial goals easily. This will surely make you ahead of your competitors. Hence, adopt a method with high security and make your transactions hassle-free.
