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Paying Without Plastic

The use of virtual cards for B2B payments is picking up steam.

By Susan Kelly | Updated on March 18, 2014
Sometimes less is more. Take virtual cards—credit cards without the plastic—which are seeing increasing use by corporates.

“We definitely see significant growth in virtual cards,” said Andrew Gelb, Citi’s North America head of treasury and trade solutions.

Gelb said companies like the rebates they get when they use cards to make payments, as well as the amount of data that is transmitted with card payments and the benefits the card’s payment terms can provide for the payee.

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