What You Need To Know About Virtual Cards?

The virtual card field is growing and growing pretty fast. According to Allied Market Research, the virtual cards market size will reach around $2,403.3 billion by 2032, which is approximately a 21.5% CAGR growth from 2024 to 2032. This rapid change also means that to keep up with competitors, you should also implement these changes into your business.

If you have already done your research on this topic, you probably know the number of services available. They range in services, prices, and features, so it is pretty difficult to find one that will cover all your needs at once.

Here, we have created this little guide to help you out with what criteria to use to select the best provider and provide you with a comparative analysis of the most popular services out there.

What are virtual cards?

Virtual cards are a virtual version of traditional physical cards, such as credit and debit cards. These cards exist only online and can be accessed via phones, computers, or tablets. These cards are pretty similar in terms of features and functionality (e.g., virtual card number, protection features, etc), but offer a more secure way of paying.

Benefits of virtual cards for businesses

Virtual cards offer a lot of benefits that you might want to have, especially if you do business online or most of your financial transactions are done online. Here’s what you can expect from a virtual card for your business.

• Better security. Virtual cards offer improved security with features like tokenization, dynamic CVV, encryption, and biometric authentication (e.g., fingerprint or facial recognition).
• Cost-effective. When a card provider moves to virtual cards, it means less spending on printing efforts and delivery.
• Real-time control. Businesses can issue, modify, and revoke virtual cards in a matter of minutes. It is also very useful if you need to set spending limits, monitor transactions, and manage employee expenses in real-time.
• Environmental sustainability. When you move to virtual cards, it also reduces the amount of plastic and paper waste that is used to create those cards.
• Better customer service. Virtual credit cards often offer loyalty programs, personalized offers, which generally improve customer satisfaction.

Disadvantages of virtual cards to consider

Even with the benefits of virtual cards, there are also some things to be cautious about. Most of the issues come from security issues, limited acceptance, and a learning curve that makes some users give up on this type of card. Here are some other things to consider.

• Security concerns. Over half of online banking users (54.1%) have experienced fraud that often happens as phishing or identity fraud.
• Limited acceptance and usability. Virtual cards are often limited to online transactions, and sometimes you might not be able to pay with them at some merchants.
• Technical and operational challenges. Technical glitches and server downtimes can lead to some users losing access to their accounts, paused virtual card transactions, or even data leakages.
• Learning curve and overspending risks. Some users find it difficult to adapt to new technology, especially if they have always used traditional banking platforms.

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Key criteria for selecting a virtual card provider

So, what exactly should you look for when selecting your perfect virtual card provider? There are a bunch of things to consider. The main things are how secure the app is, how you can integrate it with your existing software, how easy it is to learn, etc. To get more clearer and concise list, continue reading.

1. Security and compliance features

First is security. Check if the software you are thinking of getting has at least two of the things below:

• End-to-end encryption;
• Tokenization;
• Fraud detection;
• SOC 2/PCI DSS compliance.

These things are important if you want your business data to be safe and not to worry about possible breaches. According to the Cybersecurity Breaches survey 2024, 71% of vendors prioritize providers who offer proof of security measures (e.g., SOC 2 compliance).

2. Customization and scalability

Customization is important. What if your company grows and you need more cards right eher and now? Or what if you need to customize limits for different cards? These issues can happen, and a good virtual card provider should be able to offer you solutions. So, what exactly to watch for? Here is a little list of must-haves:

• Ability to issue cards per department/user;
• Set limits within specific cards;
• Control categories.

3. Integration capabilities

If you’re planning to integrate this new tool with your existing software, you should take a look at whether a virtual card provider offers the integration capabilities. They may not be needed for you right away, but you never know what will be tomorrow, so it is better to have them now than change the software later.

• Seamless APIs;
• Accounting software plugins (e.g., QuickBooks, NetSuite);
• ERP support.

4. User experience

Another pretty useful thing to look for is how user-friendly the platform is. These criteria will also determine how good your tool will be adopted. For example, if you found a tool that has a complicated design or where most of the commonly used features are hidden from the main menu, it will definitely make the working process more difficult for your employees. And we know you don’t want it. So, here’s your list of things to look for at this stage:

• Intuitive interface;
• Mobile access (if no mobile app is available, check if the website is mobile-friendly);
• Easy card issuing.

5. Cost structure

This one might be tricky because some of the popular virtual card providers might not have prices available on their website and only give you pricing information when you contact them. Apart from that, there shouldn’t be any hidden fees. Check for other things below:

• Transparent pricing;
• No hidden fees;
• Clear interchange and markup rates.

6. Customer support and reputation

 If it is your first time working with virtual card providers, you should understand that not everything will always go smoothly, so having someone to back you up and help is very important. Make sure the provider you are looking for to connect to has the following things:

• 24/7 support;
• Live chat or account manager;
• Onboarding assistance.

7. Advanced features

It is always good to have some features that can help you have better visibility and control over spending behavior. Some of such features include:

• Spend analytics;
• Budget controls;
• Recurring payments;
• Virtual card rotation;
• Single-use virtual cards.

Comparative analysis of leading virtual card providers

Now that you know what criteria to look for, you will make this path a lot easier for yourself. Yet, to make the choosing process even less stressful, we have collected the top five tools that are currently the most popular on the market. We will discuss their pros and cons, features, and pricing models. Additionally, you will learn what each tool is best for: from company size to field of work.

Spendbase

Spendbase is an all-in-one spending platform that handles everything from SaaS subscriptions to corporate cards. What makes it stand out is their vendor management approach, where they negotiate better deals for you and only take a 25% cut of what they save you.

The platform integrates with popular tools like Slack, HubSpot, and Asana, plus major cloud providers like AWS, Azure, and Google Cloud.

Pricing models:

• 25% of savings achieved;
• Starting: $249/month;
• No upfront costs;
• Free tier available.

Key features:

• Virtual cards with custom limits;
• SaaS spend analytics & optimization;
• Vendor negotiations (25% success fee);
• Real-time expense tracking;
• Automated subscription management.

Best for:

Ramp

Ramp combines global corporate cards, travel, expenses, and accounts payable to automate finance operations. They offer real-time alerts and automated expense reporting workflows, so you can get Slack notifications when someone makes a big purchase or automatically export transactions to Google Sheets.

They have 200+ integrations that include deep HRIS connections, they can automatically offer cards when new employees are added. The platform uses advanced AI for expense categorization and fraud detection. It is ideal for companies that want automation without sacrificing control.

Pricing models:

• Free core plan;
• Premium: $15/month per user;
• Enterprise plan (contact to get pricing);
• No annual fees;
• Pay-per-use advanced features.

Key features:

• Unlimited virtual & physical cards;
• Real-time expense tracking;
• AI-powered spend insights;
• Receipt automation;
• 5% average savings through controls.

Best for:

Brex

Brex is built specifically for venture-backed businesses. They offer 10-20x higher limits with no personal guarantees required. What sets them apart is their vendor management that handles bills and checks automatically. They auto-generate documentation that stays perfectly in sync with their platform updates.

For fast-growing companies that need flexible credit and powerful automation, Brex is perfect since it doesn’t have traditional banking bureaucracy. Here you have instant virtual card access and dynamic credit limits based on your business metrics.

Pricing models:

• Free core plan;
• Premium: $12/month per user;
• Enterprise plan (contact to get pricing);
• No annual fees.

Key features:

• Dynamic credit limits (10-20x higher);
• No personal guarantee required;
• Rewards program (up to 7x points);
• Instant virtual card issuance;
• Travel booking integration.

Best for:

Airbase

Airbase is built for companies with complex procurement needs who want enterprise features without enterprise complexity. The platform handles domestic and international payments with multiple payment methods: ACH, check, wire transfer, and virtual cards with cash back.

They also integrate with ERPs like NetSuite, Sage Intacct, QuickBooks, and support automatic user provisioning with Microsoft Entra ID. It is ideal for mid-market companies that need serious procurement workflows with full audit trails and automated approval routing.

Pricing models:

• Standard/Premium/Enterprise plans;
• Custom pricing;
• Need to contact for quotes.

Key features:

• Virtual & physical cards;
• Full procure-to-pay platform;
• Advanced approval workflows;
• AP automation;
• Real-time GL synchronization.

Best for:

Pleo

Pleo is a platform that offers both virtual prepaid Mastercards for online purchases and physical cards for everything else. Here you can get real-time spending limits and instant card controls.

Integrations include accounting systems like Xero, QuickBooks, and NetSuite, plus HR tools like BambooHR and Personio. It is perfect for companies that want beautiful UX combined with good financial controls.

Pricing models:

• Essential: $45/month;
• Advanced: $99/month;
• Beyond: $199/month.

Key features:

• Physical & virtual cards;
• Real-time expense capture;
• Multi-currency support;
• Receipt automation;
• Employee-friendly interface.

Best for:

Quick recommendations by business type

Not sure which platform is right for your specific situation? Here’s a quick reference guide to help you choose the best spending solution based on your business needs.

Takeaway

To sum up, helps to transform how businesses run finances to make it clearer, easier, and overall have better control over employees’ spending. These cards can also give you real-time updates and insights on your workers’ spending habits, which, in turn, lets you manage the company funds in a smarter way. So, how exactly do you find that one perfect provider? We already explained it in the article above, but here’s your little recap:

1. Match provider strengths to your needs. For example, Spendbase excels at SaaS optimization and vendor negotiations (30% savings potential), Brex offers startup-friendly credit terms, Airbase provides enterprise-grade procure-to-pay capabilities, Ramp delivers AI-powered insights, and Pleo focuses on user-friendly European expense management.
2. Consider the company stage. Startups benefit from Brex’s no-personal-guarantee approach, mid-market companies can use Spendbase’s immediate savings, and enterprises need Airbase’s advanced workflows.
3. Check your company’s pricing structure. Understand the complete model. Spendbase’s value-based 25% success fee can deliver higher ROI than fixed-fee alternatives for companies with quite substantial SaaS spending.
4. Balance usability with capabilities. For example, Pleo offers immediate usability while Airbase’s more complex platform requires onboarding but then delivers greater functionality.

Modern virtual card platforms have totally changed the game. Now you get real-time visibility, workflows that basically run themselves, way better security, and analytics that actually tell you something useful.

Pick the platform that fits how your company actually works and where you are headed. The right tool changes how you make financial decisions across the board.

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FAQs

What is the best virtual card provider?

It really depends on your top priorities. Spendbase is perfect for cutting SaaS costs through vendor negotiations. Brex is perfect for startups that want high credit limits without personal guarantees. Airbase handles complex procurement needs with enterprise controls. Pleo offers the most user-friendly experience, especially in Europe. Ramp gives you a bit of everything with AI-powered insights.

Do banks offer virtual cards?

Yes, but they’re typically basic compared to specialized providers. Bank cards lack the features businesses really need. They include accounting integrations, approval workflows, automated receipt matching, and spending analytics. If you want occasional virtual cards, banks work fine. For transforming company spending, dedicated platforms deliver far more value.

What are virtual card services?

Virtual card services allow businesses or individuals to create virtual debit or credit cards for:

• Online purchases;
• Subscription management;
• Employee expense control;
• One-time payments (via single-use cards).

These virtual cards can be issued instantly and managed using apps or dashboards. They also include such features as spend limits, real-time tracking, and category restrictions.

How long does a virtual card last?

Virtual cards can expire after a single transaction, at project completion, on specific dates, or match traditional 1 to 3 year expirations. Administrators can deactivate any card when needed, which is perfect if your business needs change and you need to take quick steps.