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Virtual Credit Cards

Features and Benefits of Virtual Credit Cards

Stay secure

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.

Save time

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.

Reduce costs

Create virtual credit cards at no additional cost, while incorporating the cost-saving advantages of the RBC Commercial credit card program:

  • Avoid traditional cheque and wire payment processing costs.
  • Improve cash flow by potentially extending days payable by up to 51 days.1
  • Earn Avion® points or cash back for every dollar spent.2

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.

What Are Virtual Credit Cards?

A virtual credit card is a 16-digit credit card number, with its own expiry date and CVV code that is tied to your RBC Commercial credit card program.

To learn more about how virtual credit cards can benefit your company, .

How it Works

How to pay supplier invoices

1
Approve the invoice(s) to be paid
2
Submit the approved payments individually or through bulk file upload, along with supplier and invoice details
3
A single-use virtual credit card gets assigned to each payment
4
Suppliers receive email notification with payment details, self-authenticates to receive the virtual credit card and charges the virtual credit card
5
Payments get automatically matched to invoices, provided in a single reconciliation file

How to give an employee or supplier a virtual credit card

1
Create a virtual credit card by inputting the spend limit, specified numbers of uses, and recipient’s email address
2
Recipient receives email notification, self-authenticates to receive the virtual credit card and charges the virtual credit card.3
3
Transactional information for each virtual credit card will be provided in a single reconciliation file

Get Started Today

Discover how your business can experience a new level of security, convenience and control.

Have a Specialist Contact You

“Potentially extend days payables by up to 51 days” refers to the maximum number of interest-free days before you must make a payment towards your credit card balance after a purchase is made (based on a card with a 21 day grace period). To achieve this you must use your credit card to pay your supplier and ensure the payment is posted immediately after your statement closes. For more information about interest-free days and the timing of payments, speak with your Commercial Account Manager.
Avion points are earned with the RBC Commercial Avion® Visa credit card in accordance with the Avion Rewards Program Terms and Conditions available at rbcrewards.com/terms-and-conditions, and cash back is earned with the RBC Commercial Cash Back Visa credit card in accordance with the RBC Cash Back Program Terms and Conditions at rbc.com/commercialcashbackinfo.
Virtual credit cards should not be used by the employee at a physical point-of-sale terminal as virtual credit cards require inputting details such as the 16-digit credit card number, expiry date and CVV code.