In the ever-changing environment of corporate travel, what role will the virtual prepaid card play in the future?
Conventional payment methods like individual corporate cards remain at the top of preferred payment methods when it comes to business travel. However, with the internet modernizing the way purchases of services and goods can be conducted, businesses are now beginning to implement efficient online payment solutions like virtual prepaid cards. The following are some of the key reasons why virtual prepaid cards are an integral part of the future of business travel:
1.) Boosting your payments security
Millions of transactions are processed daily. As such, organizations want to safeguard their sensitive information from identity thieves. Virtual prepaid cards are particularly appealing to organizations aiming to do this, because they are armed with exclusive security features.
Different than physical cards, virtual prepaid cards cannot be lost or stolen. Any identifying information is stored online and accessible only through a launch window. Additionally, virtual prepaid cards are never tied to a bank account, this entirely removes the opportunities of private information to be stolen. With the ability to be deleted or edited immediately upon use, this only further enhances the payment security benefits of virtual prepaid cards. Organizations can also appoint a particular virtual prepaid card for a specific business purpose or merchant, curbing fraud and streamlining accounting.