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Executive Memo - Improving AP Efficiency While Strengthening Controls

Category:Virtual Card, Payments Automation
Updated:2022-09-20

Executive Memo - Improving AP Efficiency While Strengthening Controls

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Virtual cards are single-use payment card numbers. With no physical card, they are exclusively a set of 16 digits that are issued for a single transaction, or 鈥渟wipe,鈥 of a specified amount to a specified vendor. Companies use them primarily to help reduce fraud risk and increase efficiency. This type of card differs from a 鈥済host鈥 card in that the virtual card is single-use. It differs from a P-card in being both single-use and having no physical card.

Virtual Card
Payments Automation
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