Virtual card transactions have risen by 11% since the emergence of Covid-19. Small businesses are increasingly adopting virtual payments to manage their expenses more efficiently. And it’s clear why. Compared to traditional payment methods, virtual cards provide better security, save you more money, and offer more flexibility.
The following tips will help steer you toward better expense management, by making the most use of your virtual cards. Let’s dive in.
1. Require authorization for payments
2. Manage digital advertising
3. Monitor subscriptions
4. Automate reconciliation
5. Use one card for every vendor