Virtual payment cardless accounts are an electronic payment option that offers substantial advantages over other commercial payment methods. Virtual payments replace traditional plastic cards and paper cheques with single-use electronic account numbers that are assigned to a specific payment.
Virtual payment single-use accounts can be set to a specific supplier, date range and payment amount. Payments are processed only after you approve them, providing enhanced control over payment timing.
Cardless payment accounts create a 1:1 match between a virtual account number and a payment. A single electronic record simplifies the reconciliation process because it contains complete payment information. Eliminate less secure, time-consuming and costly paper processes.