What are Corporate Virtual Cards and why are they used?

How do Corporate Virtual Cards work?

Corporate Virtual Cards make it easier for your company to manage online payments. Each virtual card is linked to a specific account, where you set the spending limits, expiry dates and rules for usage. This way, you can monitor budgets and avoid unpleasant surprises. Emmanuel Bairiot, Head of Cards (Corporate Banking) at BNP Paribas Fortis, stresses the importance of control: "With our virtual corporate credit card, companies can retain full control over their spending, which is crucial for sound financial management. This enables them to optimise their financial strategies and allocate their resources more effectively. The main advantage is that customisation is possible down to departmental or individual level. For example, an IT team can manage all software purchases themselves. In the marketing department, meanwhile, a virtual payment card can be allocated to each campaign, making it easy to track spending for individual campaigns."

What are the benefits for companies?

Companies that use virtual cards often cite the many advantages. Bairiot: "No more cumbersome expense reports. Employees make their own purchases, in full transparency, which improves efficiency. Departments, on the other hand, appreciate the autonomy they are given to respond more quickly and flexibly to their needs. And management can easily track  spend by project or department, enabling them to make better-informed financial decisions. This insight helps to optimise future budgets. Choosing a virtual credit card for your company is crucial for optimising your financial operations."

"Our virtual cards are designed to grow alongside your business. Whether you are a small team or a large organisation, our solution can be tailored to your specific needs."

Flexibility

Another important advantage is the flexibility they offer. Companies can easily create additional cards, if necessary, for temporary projects or new team members. Bairiot explains: "Our virtual cards are designed to grow alongside your business. Whether you are a small team or a large organisation, our solution can be tailored to your unique needs  . This enables your company to adapt your spend management to growth and changing circumstances."

Efficiency

Virtual cards automatically record every payment and generate clear reports. Many providers also have an app so companies can easily manage and automate their spending and transactions, making spend management much easier. This saves companies time and resources that would otherwise be spent on administrative tasks. Bairiot explains: "With Corporate Virtual Cards, IT and marketing teams can track their spending down to the last euro, without having to worry about complex expense reports. This automation allows companies to streamline their processes, leading to increased productivity and reduced risk of errors."

Sustainability

Good to know: virtual cards are more sustainable, as you no longer need a physical plastic card. You don't have to wait for the card to be issued, you save on the cost of the card itself, and your employees always have their card with them.

Are virtual credit cards a good option for secure online purchases and what security do they offer?

Another crucial feature of Corporate Virtual Cards is security. Each card has a unique number and strict usage rules, with standard two-step verification . This reduces the risk of fraud and ensures secure online payments. Bairiot: "Security is a priority for us. That’s why our virtual cards meet the highest standards. This gives companies the peace of mind they need in an increasingly complex digital world. With the rise of cyber threats, it’s crucial to protect payment systems from potential attacks.

Can Corporate Virtual Cards be integrated into existing systems?

Virtual credit cards can be easily integrated into existing financial systems. Companies can connect their virtual cards to their accounting software, with seamless data transfer. Bairiot: "This integration reduces the likelihood of errors and allows for real-time reporting, giving you an overview of your company's financial situation at all times. This is especially valuable for companies with multiple departments or locations where it is vital that you maintain a centralised and accurate overview of spending."

Spend management: more control over business expenses

Good spend management is essential for any company that wants to safeguard its financial health. But how can you, as a company, better control your business spending? A virtual card is an excellent option. By processing and limiting your spending directly, you always have an overview of the financial flows within your organisation.

Virtual cards make it easy to pay and track spending, allowing you to respond quickly to changing needs. In addition, recurring payments, such as subscriptions or fixed services, are processed automatically. This saves time and reduces the risk of errors, making spend management more efficient.

Applications: where and how do you use virtual cards?

Virtual cards for your company - how do you make the best use of them ?   You can use them for many purposes, depending on what your business needs. Thinking about shopping online? Virtual cards are the perfect solution. Need to book a trip for your employees? You can also use them for this. Paying for services or subscriptions? With virtual cards you can do all this and more.  No more hassle with manual money transfers. What about your employees’ expenses?  Whether for business travel or ordinary expenses, virtual cards give you the control you’re looking for. Why have they become so popular? Thanks to the high level of security and ease with which payments are processed, virtual cards are an efficient solution for managing your business finances. As a result, they help you control and streamline spending, regardless of the industry in which you operate or the size of your business.

What other innovations are in the pipeline?

The future of Corporate Virtual Cards looks promising. According to Bairiot, there are several developments on the horizon: "In 2026, the cards will be integrated with Apple Pay. This will make it even easier for companies to use their virtual cards for daily in-store purchases and online payments. Integration with Google Pay is also in the works. This will offer wider accessibility and greater ease of use for employees. In addition, a new functionality is being developed that companies can use to manage expense statements, allowing them to pre-define which expenses can be claimed and which cannot. This further strengthens companies' control of their spending."

How do you apply for your corporate credit card?

The advantages of Corporate Virtual Cards are clear:

• More efficient financial management
• Increased control of expenses
• Enhanced security
• Unmatched flexibility

When selecting a virtual card provider, pay attention to the quality and availability of customer service. Good support by telephone or email is crucial to help you quickly and adequately with any questions or problems.

You should also evaluate the provider’s cost structure, including any annual fees, transaction fees and foreign transaction fees. This gives you have a complete overview of the price structure.

The integration of virtual credit cards is a smart choice for companies looking to optimise their online payments and prepare for the future.

Would you like to apply for your virtual credit card? Contact your Cash Management Advisor and find out how our solutions can help your business. Please take into account that when applying for a Corporate Virtual Card, you will be required to provide specific information, such as company data and applicant identification. Once your application has been approved, the corporate virtual card will be issued within a few days.

*Subject to the approval of your application

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