3 Reasons Every E-commerce Business Needs Virtual Cards

Control

Virtual card controls is one of the most powerful features used by e-commerce businesses. It doesn't matter if your e-commerce business just started or you've been in business for 10 years, you operate with countless subscriptions, advertising campaigns, recurring monthly expenses, and services. Create a virtual card for each account, assign that card the limit appropriate for the recurring expense, and put controls on the card so you know there won't be erroneous charges. Did a card get compromised? Cancel it and replace it without affecting your countless other accounts. Want to cancel a subscription? Just cancel the card on the account and avoid the hassle of dealing with someone on the phone.

Security

Fraud protection and security are important to any business, but especially those prone to online fraud like e-commerce businesses who need enhanced security amidst the pandemic-driven surge in online shopping. Shoring up your e-commerce security doesn't need to be complicated or expensive: you can start today by utilizing virtual cards. Virtual cards provide greater fraud protection than physical cards and can easily be created, canceled, and managed.

Automated Accounting

Vendor payments are most commonly found in three flavors: credit cards, ACH, and checks. Each of these legacy payment methods present their own unique set of challenges, but traditional credit cards have a number of disadvantages including more frequent fraud monitoring declines, lack of control by the consumer, and security risks. Any one of these traditional credit card disadvantages can mean significant disruption for an e-commerce business.

Enter virtual cards: they can be created instantly for each transaction, merchant, or vendor, making returns, refunds, and reconciliation incredibly easier. Why? Because with one card per vendor, or one card per category, you can now 'set it and forget it' when it comes to assigning accounting data and letting transactions automatically flow to your enterprise resource planning (ERP) and accounting system.

If you need a business credit card built for e-commerce that is committed to your success, sign up to KleerCard now—it takes 5 minutes (or less!).