Published on July 30th, 2021 | by Bibhuranjan0
Switch to Virtual Cards and get rid of your Payment Challenges
Do you accept credit card payments in your store? More than this, if you’re a business with a credit card that your teammates are using, you’ll be dependent on the card owner every time an OTP comes. Also, while you reconcile payments, it makes it difficult to know the exact source. Fortunately, there is an easy solution: switch to virtual cards and get rid of all these problems!
1. Streamline Your Accounts Payable
Virtual cards allow you to process transactions without having a physical credit card in your hands. As a result, you will no longer have to manage tons of different accounts or worry about processing errors on the merchant side (like when an incorrect account number is entered). Virtual cards also make it easier for small business owners because they can be used with any type of phone or browser.
2. Reduced Costs
You will save on credit card processing fees and also have to deal with less paperwork. These costs are passed along directly to your customers, so you’ll make more profit when they buy from you! Virtual cards work for all types of businesses – not just online stores. They’re perfect if you need a solution that’s quick and easy.
3. Get Cash Rebates
Virtual cards also come with cash rebates that can save you an additional % on your credit card processing fees! That’s a lot of money for every single transaction, and it only takes seconds to sign up online. The benefits of virtual cards are undeniable – they’re fast, easy to use, cost-effective, and secure. If you’re ready to get rid of the headaches that come with credit card processing, then switch today!
4. Increased Security
Once you switch to virtual cards, your business will become more secure. This is because virtual cards are assigned to specific people. And they have the card no., CVV, etc., on their phone, which makes it difficult for others to steal the information – there’s no way for hackers or fraudsters to steal your personal information!
5. Better Internal Control
Virtual cards also minimize the likelihood of fraud. Whenever you swipe a card for payment, it can be copied and used in other transactions – this is where virtual cards are more secure because they’re never “swiped” or scanned. They provide an additional layer of protection against risk, which means that your business will stay afloat even if hackers try to attack the system.
6. Assign virtual cards with a spending limit
Another benefit of virtual cards is that you can assign virtual cards with spending limits so that people don’t use them for personal purposes. One cannot accidentally spend too much money because there’s a spending limit. As you start to switch over, keep these benefits in mind so you can reap all the rewards. Virtual cards are an excellent solution, and they’ll help your business grow.
It’s time to switch to virtual cards and get rid of your payment challenges. With a merchant account, you can accept secure credit card payments with ease. Plus, it costs less than traditional methods! It may seem like more work at first, but this little change will save you lots in the long run.
Image by mohamed Hassan from Pixabay