Virtual cards: A faster, safer way for businesses to pay
Managing company spend is a constant challenge. Finance teams need payment methods that are fast, secure, and easy to track without the risks of physical corporate cards. That’s why many businesses now turn to virtual cards↗.
With virtual cards, teams can create unlimited payment methods for employees or departments, set limits on where and how they’re used, and follow every online payment in real time. They also strengthen security. Each card has a unique account number and use case, limiting exposure if it’s ever compromised.
Read on to discover the benefits and use cases of virtual cards, and the ways Moss’s virtual cards for UK/European businesses offer instant issuance, speed controls, and seamless accounting integrations.
What’s a virtual credit card?
A virtual card works like any regular credit card, just without the plastic. Instead, it’s a unique 16-digit number with its own expiry date and CVV. The CVV acts as a security code to help secure transactions and prevent fraud.
Businesses often use virtual cards for online purchases. Finance teams can issue single-use cards for one-off transactions to reduce fraud risk, or multi-use versions for recurring payments. In both cases, the card connects back to the company’s line of credit.
Virtual cards aren’t the same as digital wallets↗, which simply store existing card details on a device like a phone.
Moss’s online virtual credit cards make this process even easier. Teams can issue unlimited cards instantly through the web or mobile app, set custom spending limits, and designate approved merchant designations. Each virtual card also supports multiple currencies (GBP and EUR) and integrates with leading UK accounting platforms like Xero and FreeAgent to streamline expense management.
Virtual card payments
Virtual card payments↗ follow a straightforward, digital three-step process that gives finance teams stronger oversight and more accurate records.
Authorisation
When an employee charges an expense to a virtual card, the merchant asks the card issuer for approval. The issuer checks the virtual credit card number, CVV, expiry date, available credit, and the company’s spending rules. If the card information and policy details look good, the transaction is approved instantly.
Settlement
Once approved, the transaction moves to settlement. The issuer sends funds to the merchant’s bank and deducts the amount from the company’s line of credit. Settlement may take a few business days, but finance teams can track the status in real time.
Auto-reconciliation
The process ends with reconciliation↗. Moss handles this automatically by matching each purchase to its corresponding receipt, spend category, and accounting record. The platform automatically logs and syncs every transaction with the company’s ERP or accounting system, keeping the books accurate and audit-ready.
Why do businesses adopt virtual cards for B2B payments?
Virtual cards give both large and small businesses↗ a faster, safer, and more controlled way to handle B2B payments. As more transactions move online, many companies find this digital option more convenient and practical than cheques or physical cards. They also shorten payment cycles by skipping delivery altogether.
Built-in controls let teams limit spend amounts, approve merchants, and control card expiration. Finance teams decide exactly where and how employees can use each card, which makes misuse↗ far less likely than with a standard credit card.
Virtual cards also integrate directly with accounting and ERP systems. The platform automatically matches transactions, so finance teams reconcile expenses faster and keep records accurate.
How to apply for a virtual credit card through Moss: 3 steps
Applying for a virtual card through Moss↗ only takes a few minutes. And unlike a physical card, you don’t have to wait days for delivery. Here’s how to apply.
- Sign up or log in to the Moss portal
If your company already uses Moss, log in to the portal↗. If it doesn’t, create an account↗.
- Complete KYC and credit-line setup
Answer a few quick questions about your business, verify your identity, and set up a credit line. Moss uses this step to check eligibility, which can include basic reviews of company size and credit standing.
- Generate a new virtual card
In the Moss portal, open the “Cards” tab, click “+New Card,” and select “Virtual Card.” From there, set the spending limit, expiry, and approved merchants. Employees can request cards, while admins approve or reject them based on factors like budget limits or policies.
Virtual debit cards
Virtual debit cards are a lot like virtual credit cards. Instead of physical plastic, you get a digital credit card number with its own expiry date and CVV. They may look the same on the surface, but they work differently in practice. Here are a few key differences.
Interest-free
Credit cards rack up interest if you don’t pay the balance by the due date. Debit cards, on the other hand, pull straight from company funds to pay for expenses — no balance, no interest. For businesses that prioritise cost reduction over flexible payment terms, a virtual debit card may be a better fit.
Real-time payments
Credit cards usually bill monthly, while virtual debit cards deduct funds from the moment you make a purchase. That means you need funds available right away to cover expenses. This is good for controlling spend, but tougher on cash flow.
Pre-funded control
Virtual debit cards work well for predictable expenses. Finance teams can load the exact amount needed, which keeps budgets tight and prevents overspending. This approach also ensures every card serves its intended purpose.
Get simple, safe expense management for your business
Virtual cards give finance teams faster payments and clearer oversight of company spend. They simplify reconciliation and eliminate delays tied to physical cards, making them far more convenient to issue and use.
Moss takes these benefits further. With instant issuance and built-in controls, our virtual cards↗ make expense management easy and secure for your corporate purchase needs.
FAQs
Mia is part of the product marketing team at Moss, where she focuses on the card module and accounting integrations. With experience across finance, IT, and product management, she brings a deep understanding of financial operations and how to communicate their value clearly to customers.
