The platform’s free virtual debit card can help make payments without the need for a physical card.
Imagine you are out on a Monday morning. You suddenly get a call from an employee to make payments for an online purchase. Unfortunately, you do not have your debit card and are stuck in the middle. A tough situation, right?
This issue can be resolved by simply using virtual cards. In 2023, the number of virtual card transactions was 36 billion, according to the data reported by Juniper Rеsеarch. Forecasts say that in the year 2028, it will be up to 175 billion. It shows the relevance and need for the utilization of virtual cards in the modern age.
What are Free Virtual Debit Cards?
Zil US offers free virtual debit cards to businesses and individuals. Virtual cards are digital versions of traditional debit cards that can be instantly generated without any physical card issuance. Virtual cards offer the same functionality as physical cards and users can make online payments, manage subscriptions, and perform contactless transactions. Users can store these virtual cards on a mobile device, making them convenient and secure.
7 Key Advantages of Using Virtual Cards for Your Business
- Enhanced Security: Zil US’s virtual cards use unique numbers for each transaction. It reduces the risk of fraud and enhances security. For example, if a card number is breached or altered, it can be blocked instantly without affecting other subscriptions.
- Spending Control: The platform allows you to set spending limits per card. You can set the limit per month, all time, or per transaction as you like. For instance, a business can issue a virtual card to an employee with a $500 limit for monthly travel expenses.
- Easy Management: Each service can have its own virtual card, making tracking simple. You can generate multiple virtual cards via the software. For example, a company could use one virtual card for cloud services and another for software. By doing so, the company can avoid confusion over which charges belong to which service.
- Instant Issuance: Businesses do not need to wait for physical cards anymore. Users can customize and issue virtual cards immediately when needed, like when signing up for a new online service. The platform allows you to create virtual cards from anywhere without restrictions.
- Track Payments: Virtual cards provide real-time tracking, allowing you to monitor transactions as they happen. This is useful for businesses needing to track employee purchases.
- Custom Expiry: The platform allows you to activate, deactivate, and reactivate virtual cards anytime. You can create a virtual card and deactivate or block it after one month to avoid unwanted subscription renewals.
- Global Accessibility: Zil US’s virtual cards are accepted worldwide, making them ideal for international purchases. A business purchasing software from a foreign vendor can pay easily without worrying about physical card compatibility.
Digital Wallet for Enhanced Financial Management
If you are a business owner, you can use digital wallets to fund virtual cards. The all in one platform offers digital wallets for businesses and individuals to store and manage funds. You can access digital wallets at any time and make transactions. Instead of transferring money manually for each transaction, the business owner can preload funds into a digital wallet. Later, they can pay for online services, subscriptions, or employee purchases. Even if you cannot access your bank accounts, you can use digital wallets to enhance cash flow.
Corporate Expense Card for Employees
Zil US payment solution offers corporate expense cards, a type of virtual card for businesses. A corporate expense card for employees offers a simplified solution for managing business spending. It allows companies to issue virtual cards to employees with predefined spending limits. Businesses can ensure budget control and accountability for work-related expenses, like travel or office supplies. With tracking and reporting, businesses can monitor spending and prevent misuse, while employees can make necessary purchases without delays. Corporate expense cards simplify reimbursement processes and enhance financial transparency. Expense management is more efficient for both small and large teams with the feature.
Online Business Checking Accounts
Zil US offers free online business checking accounts for businesses to efficiently manage their finances digitally. The platform eliminates monthly fees, minimum deposit requirements, and maintenance charges, making them cost-effective for startups and established companies. With features like ACH transfers, wire payments, check mails, virtual cards and integration with digital wallets, you can handle day-to-day transactions easily. Additionally, online access enables instant monitoring of account activity, simplifying budgeting and expense tracking. These accounts are best for modern businesses looking for flexibility and convenience.
Conclusion
Zil US offers a powerful platform that enhances business financial management through free virtual debit cards, corporate expense cards, and digital wallets. These tools provide businesses with increased security, flexibility, and control over expenses, helping to manage payments, subscriptions, and employee purchases. With the added benefit of fee-free online business checking accounts, the platform simplifies daily transactions and financial oversight. For businesses of any size, the all in one platform offers a cost-effective solution to optimize financial operations and improve overall efficiency.
