Features and Benefits of Virtual Credit Cards
Reduce the risk of fraud and misuse with advanced security features:
- Avoid the risks of giving out your actual credit card number through insecure channels such as email or phone – or of having that credit card number on file. Generate a single- or multi-use virtual credit card for each payment.
- Reduce erroneous charges by restricting payments to specific amounts.
- Help prevent fraudulent use by having suppliers or employees authenticate.
- Assign approvers before payment submission.
Reclaim valuable time by streamlining the payables process:
- Pay multiple suppliers and invoices at once through a single payment file.
- Automatically match transactions to invoices within a single reconciliation file, sent to both the company and its suppliers.
- Gain confidence by knowing when payments are sent and completed.
Create virtual credit cards at no additional cost, while incorporating the cost-saving advantages of the RBC Commercial credit card program:
Easy to implement
Because virtual credit cards is an add-on capability to the RBC Commercial credit card program, it's easy to get started:
- There are no extra logins or IT development efforts required.
- Virtual credit cards share the same credit limit as the existing RBC Commercial credit card program.
- We can work directly with you and your suppliers to make the switch to virtual credit card payments as seamless as possible.