For some years now, digitalization has been in full swing, and new technologies are constantly providing us with unprecedented virtual solutions to make our daily lives easier. Initially designed for private individuals, these tools are increasingly being extended to businesses looking to optimize their management with comprehensive, easy-to-use solutions. Among these is the Mastercard virtual card and its many advantages.
What is the Mastercard virtual card?
The Mastercard virtual card is a new-generation bank card. Like the physical Mastercard, it enables you to pay for your expenses remotely, whether they be Internet purchases, transport costs, hotel reservations or supplier invoices.
The virtual bank card consists of a unique 16-digit number (as on a conventional bank card), a validity date in MM/AY format and a 3-digit cryptogram. In principle, this information is communicated to the user via SMS, e-mail or a specific application.
Please note that there are 2 types of dematerialized card: + the single-use card, which is generated for a single payment only; + the recurring-use card , which is used to pay for subscriptions or recurring transactions with a single supplier.
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How does it work?
Generating a virtual payment card is particularly simple. Simply visit the dedicated banking application or website. To obtain a unique e-card number and pay for your purchases, you first need to enter the amount of the transaction.
Given its uniqueness and the fact that it is generated for a specific amount, the virtual card guarantees a high level of security. So even if a hacker manages to obtain the card's data, it's impossible for him or her to use it for another purchase.
However, given its dematerialized nature, this payment card cannot be used for on-the-spot payment. So, for all physical payments such as meal expenses, a corporate bank card remains the best alternative.
The solution for easy business travel management
A secure payment card linked directly to the company's account
When it comes to organizing business travel, companies generally operate in one of two ways: + they advance the expenses to the employee, then reimburse him or her at a later date; + they set up an advance on business expenses.
In the first case, expenses can be considerable, especially when traveling abroad. Getting an employee to advance expenses can therefore prove complicated and generate tensions, especially if the reimbursement period is long.
In the second case, it is necessary to anticipate the employee's expenses, so as to provide an advance as close as possible to reality. This requires time for reflection. What's more, if the expenses incurred exceed the amount paid, you'll need to make an additional reimbursement to cover the full cost.
In both situations, it is essential to set up a procedure for processing expense claims. This involves collecting receipts, checking the documents and, where necessary, making reimbursements. This task requires time, human and material resources, and generates considerable costs.
Using Mastercard virtual cards, each employee can pay for purchases remotely with a prepaid card. The amount is debited directly from the company's account, eliminating the need for reimbursement. And, even though each expense must be justified, the procedure is much simpler than for expense claims.
Totally secure, this method is the perfect solution for pre-trip expenses such as hotel reservations or train or plane tickets.
The dedicated application: the ultimate tool for simplifying management
To make things even simpler, an intuitive application is ideal for managing everything at your fingertips. When you use a neobank like Anytime, you benefit not only from virtual Mastercard cards, but also from physical capped Mastercard cards and an application dedicated to managing these means of payment. All of which makes travel a whole lot simpler.
What's more, the finance department can monitor all expenses in real time from the application. They can also modify a ceiling in the blink of an eye, and block or unblock a card if necessary. He or she is notified of every new expense and can quickly access receipts.
For employees, the application represents a considerable time-saver, as it enables them to attach the associated receipt to an expense, thanks to a photo taken with their smartphone. There's no loss, no delay: the financial department receives the receipt immediately.
The accounting department also has access to all transactions and receipts. This eliminates the need to sort, check and archive all documents, as they are all collected and filed via the application.
The Mastercard virtual card, accompanied by a clear and efficient application, is the simplest and most optimized way of managing business expenses you can find. Everything can be managed remotely, making exchanges much easier, especially when traveling. A complete solution likeAnytime gives you all the tools you need to say goodbye to the tedious task of expense management, and let you concentrate on the essentials.
