Companies in Latin America use an average of 9.4 virtual credit cards, accord...

sipon95

New financial products such as credit cards virtual are in full splendor in in the next five years. 8.3%, payments will experience annual growth ofBoston Consulting Group. This is as a consequence of the growth of digital payments in the region. According to Latin America

Virtual cards, like physical cards, include the user's name, number, expiration date and security code, but they do not require a physical document that back up.

This digital product became a resource that Telegram Number Data facilitates the management and monitoring of payments in companies because it allows it to meet different needs.


According to Tribal, a company that offers an integrated financial solution for companies in the region. Currently, its clients in Latin America manage an average of 9.4 virtual cards. Likewise, there are particular cases of companies that have exceeded 400 virtual cards.

Virtual credit cards, an ally of online businesses
“Companies that are in the initial or development phase have problems acquiring credit cards through traditional banking. They may not meet the requirements or the approval process may take a long time,” commented Ricardo Pedraza, sales director for Latin America at .Tribal

“This type of company needs customized financial products and we achieve that through our virtual card. The virtual card has become a very powerful and efficient expense control tool. In addition, there is no limit to how many they can be issued, whether they are for single use or recurring,” added the businessman.



Virtual credit cards
The single-use virtual card was designed so that companies can pay an expense that does not recur over time
The single-use virtual card was designed so that companies can pay an expense that does not recur over time. For example, purchasing a flight from a collaborator and after being used, it can be permanently deleted.

Likewise, there is the recurring use card, a product to which it is possible to assign personalized funds each month, according to the company's periodic expenses that need to be covered, such as paying for digital advertising.

Virtual credit cards
Whether they are single-use or recurring cards, the use of virtual cards has been positioned as a safe and efficient solution for carrying out transactions digital. In addition, it offers data encryption. Being digital there is no possibility of them being lost, which makes it difficult for companies to become victims of crimes such as cloning and identity theft.

Currently, virtual cards are managed by the user through a virtual wallet that allows them to make purchases using their cell phone or digital watch. In addition to making online purchases.

You may also be interested in: PayPal and LendingClub show growing adoption in credit alternatives

“With the Tribal virtual card it is possible to decentralize the purchasing operations of companies. With the aim of making payment processes more efficient in different areas such as finances and purchases. In this way, we seek to empower collaborators to carry out the operating expenses of their respective areas,” concluded Pedraza.