Online: Enter the virtual card details when buying online.

Over the Phone: Give the virtual card details when purchasing over the phone.

Via an App: Enter and save the virtual card details as a credit card when buying via an app.

Physical Store: Key in the virtual card details in the card reader at a physical store.

These virtual card details are:

· Card number
· Expiration date
· Security code
· Billing address/zip code

Voila! Easy and simple in making business purchases using your virtual card.

To keep payments safe from hackers or credit card fraudsters, virtual cards can be used by setting a preferred credit limit and validity date. What’s more, when making a purchase, make sure to use the zip code of the virtual card if asked by the merchant. Credit card issuers and network will often check at the time of the purchase that the zip code of the credit card on file matches the zip code entered by the buyer at the point of sale.

Keep in mind though, when making a purchase, there is a difference between the card expiration date and the validity dates. The card expiration is the Month/Year that is printed on any credit card. Merchants will often ask you for that information when making a purchase. The validity dates (start and end dates) are composed of a Day/Month/Year and will never be asked by a merchant. They are available for virtual cards only and indicate whether or not the card is active or cancelled.

When sending/requesting a virtual card, make sure that the authorized spending limit is not too close to the expected purchase amount. Some merchants (e.g. car rentals, hotel, taxi apps) make a temporary hold on credit cards before their service is fully rendered. That hold is often a preset amount (e.g. $200 for a car rental, $20 for a taxi app, etc.) or an amount that is equivalent to the expected cost of their service plus a buffer (e.g. ~25%). This hold temporarily diminishes the virtual card’s spending capacity and is not released until the actual charge is submitted, so it’s best to consider these potential holds when setting a virtual card spending limit.

The biggest downside for virtual cards is that a physical card cannot be swiped. And, of course, although virtual cards are widely accepted, some merchants are still skeptical when they see a credit card image on a screen, and their staff might not be trained to accept virtual cards. Nevertheless, virtual cards can serve as an effective buffer between your company’s actual credit card details and merchants, while simultaneously equipping employees with the ability to proficiently make business-related purchases.

Watch this video to learn more on how to use a virtual card.