Virtual credit card processing software eliminates time-consuming, labor-intensive, and error-prone data entry associated with emailed virtual card payments. It automatically processes incoming emails and parses remittance and virtual card number details. Straight-through payment (STP) automates the end-to-end processing of parsed payment transactions, accelerating cash flow.
VIRTUAL CREDIT CARD
Accept virtual credit card payments with automated processing and reconciliation
Simplify virtual credit card payments processing and reconciliation with ease and increase efficiency to accomplish more.
Virtual credit card processing that improves cash flow and reduces manual work
50%
less time managing receivables
25%
faster payments
30%
fewer past-due invoices
95%
customer satisfaction rate
Accept virtual card payments with built-in reconciliation and reporting
Simplify how customers pay while reducing manual work in your ERP. Offer a range of payment options—including B2B virtual cards—while automatically reconciling transactions with detailed reporting that can be scheduled and exported directly to your ERP.
Eliminate costly manual workflows
Replace manual virtual credit card processing with automation. Capture remittance data, match payments to invoices, and reconcile transactions without manual entry. Straight-through payment processing technology, powered by Boost Payment Solutions, increases match accuracy rates for payment parsing.*
*Boost Intercept® straight-through processing is a patented solution provided by Boost Payment Solutions. All related names and logos are registered trademarks owned by Boost Payment Solutions, Inc.
Discover why virtual card acceptance is so critical
Learn how virtual credit card processing works and why it’s critical for B2B payments
Accelerate cash flow with faster processing
Get touch-free, straight-through payment processing for virtual cards at rates optimized for B2B transactions with interchange optimization and Level 3 data processing.
Find peace of mind with secure payment acceptance
Safely collect payments with Versapay’s PCI DSS compliant payment processing solutions that help minimize fraud and chargeback risks. Your business remains safe as all your customers’ payments are tokenized and encrypted for a more secure payment experience.
Save time and effort, improve cash flow, and fuel growth
Virtual credit card FAQs
Virtual credit card acceptance offers many benefits:
- Faster payment processing time compared to checks
- Issuers guarantee the virtual card payment
- Minimized risk of fraud helps avoid chargebacks
- Better payment experience for buyers
That’s just the start. You can find other virtual card payment processing benefits in this guide.
The following are just a few of the challenges virtual credit cards solve:
- Takes too much work to manually process and reconcile emailed virtual credit card payments
- Unprotected payment processes and PCI data exposure
- High costs associated with interchange and payment processing
- Manual data entry errors
- Delayed payments
- More secure than physical credit cards thereby reducing fraud risk
- Make expense management easier with detailed spending tracking
- Help improve cash flow with control over when payments are initiated and cleared
- Provide cash-back rebates on qualifying virtual card payments from issuers
Virtual credit card automation software delivers several unique features:
- Eliminates manual handling and processing of virtual card emails
- Reduces errors and accelerates payment processes
- Automatically reconciles virtual card payments with open accounts/invoices
- Increases protection of your sensitive payment data and minimizes exposure to fraud risk
STP is a mechanism that automates the end-to-end processing of transactions.
For commercial card or virtual card payments, STP enables an Issuer or Buyer to push card payments directly to a Supplier's acquiring bank, eliminating the manual entry of card information traditionally received via email or fax.