What is a "Virtual Card?"
Simply put, a Virtual Card acts like a true debit card, with all of the features and benefits, but the card exists only as a number.
Why is it needed?
There are many potential reasons, but here is just one scenario: ABC Company has several employees that work all over the world. Their job calls for large purchases that can't always be planned for. With some projects, the delay from the inability to make an immediate purchase can result in costly delays and/or penalties. By issuing several EC ChexCard® MasterCard® Virtual Cards, the corporate office can authorize and make a payment anywhere in the world where MasterCard is accepted without the restrictions of a limit. For security, the company may choose to terminate that card number for one-time use. Or the corporate office can track all expenditures, by employee, anywhere in the world.
The Benefits:
- Very Low Cost to Implement and Maintain
- Virtually No Purchase Limit
- No Card to be Lost or Stolen
- Perfect for Unforseen Emergencies
- Accepted Worldwide
- Accurate and Instant Account Tracking
- No Overnighting of Checks Needed
- No potential Foreign Exchange Problems or Concerns
- No Wire Transfers Needed
- No Waiting on the part of Your Clients or Employees
- Safe and Secure for Your Company, Clients and Employees
At ChexCard® we can show you how to structure a program with these benefits, customized to meet your specific needs.
