The instant virtual debit card has many security properties and conveniences for businesses of all sizes. These can greatly reduce the financial fraud target on one’s back when facing increasingly savvy criminals.
With traditional debit transactions still accounting for about 34 percent of all business transactions (and leading the way), many have yet to experience the ways virtual cards can help. In this article, we take a closer look at why your business should adopt. Let’s begin!
An Instant Virtual Debit Card Creates Accountability
A virtual debit card is an asset to any business. That’s especially true when placing them up against the traditional plastic counterpart.
Virtual cards are unique in their numbers. Assignments include one account number per user. You can even limit them to a single transaction.
A virtual debit card enhances the accountability factor by beefing up the security and limiting the use of the number. It’s also much easier to trace than a tangible card that one can easily lose.
Shows Trust in Employees
Assigning a debit card number to an employee for their business use is a matter of trust. It’s like you’re telling them that you trust them enough to represent the company in a value proposition.
That level of trust is a morale booster, however subtle it may seem. That’s because the employee feels like they have power within the organization.
Makes Reconciliation Easier
Another reason the best debit card is a virtual one is that it’s so much simpler to reconcile. You don’t have to go through pages of statements to figure out where all the card was used. As mentioned above, limits can make it easy to track by a vendor or even by a single transaction.
The best virtual debit card will have security controls allowing you to lock down use. Given how easy it is for a physical card to be compromised, you’ll sleep easier knowing that a virtual card isn’t able to be photographed at a register or when left out in the open of someone’s car.
Additionally, there’s no danger of the card being lost, stolen, or misused by the employee. It helps you reduce the financial fraud problem that affects many businesses throughout the globe each year.
Puts You in Control
Get a virtual debit card going, and you have the power to control so much more of your business. That goes for haggling, inventory controls, negligence/fraud, and vendor management.
And Makes Using So Much Simpler
The ability to use virtual debit cards for your business is as simple as setting up an account with a reputable provider. Everything can be managed via desktop or on mobile through players like Bento. Bento, in particular, offers a try before you engage demo that can be set up directly through the company’s website.
The Time to Go Virtual Is Now
Everything else is going virtual. Why not your spending accounts? By embracing the instant virtual debit card, you can exercise a greater degree of control, security, and financial efficiency within your organization. For more business tech articles and tips, check out some of our additional posts!