ePay Virtual

Next generation business purchasing solution

Our ePay Virtual payment solution provides enhanced levels of control on your employees’ online and card-not-present business spend. It also increases the control and visibility over their purchasing and travel spend, while improving data capture and reconciliation.

ePay Virtual generates a unique card number only when it is needed for a purchase, with controls set on its credit limit, spend validity dates and end merchant. The virtual card will only be generated once approved by a permitted manager.

Watch our video to find out more about how ePay Virtual works.
 

ePay Virtual: How it works

  • ePay Virtual generates a unique 16-digit Virtual Card Number (VCN), with associated CVC and validity date, for card-not-present transactions.
  • New unique Virtual Card Numbers (VCN) are raised for each payment, supplier or invoice batch as required.

Business benefits

  • Enhanced security of online and card-not-present spend.
  • Greater spend control through pre-defined rules on what the virtual card can be used for and for how much.
  • Improved data and spend visibility to help develop and negotiate improved prices with a preferred supplier list.
  • Tailored reports that integrate with your existing accounting and expense management software systems.
  • Quicker and simpler reconciliation processes for invoice and payments.
  • Available in Sterling, Euro and US Dollar denominations to minimise conversion costs when transacting in those currencies.

    Also ensures transactions undertaken in those currencies are not subject to currency fluctuations. 

Colleague benefits

  • Simplified expense claims process for business travel and other expenses, settled centrally.
  • Colleagues do not have to fund expenses using personal credit or debit cards.
  • No issued plastic, reducing the need for a physical card which could be stolen or cloned.
  • Supports quick and efficient purchase procedures without time consuming approval processes or paperwork.

Control and security

ePay Virtual allows you to control expenditure and ensure compliance with internal spend, risk and governance policies, while reducing the risk of misuse of company funds or cards by employees or suppliers.

Reporting and Management Information

ePay Virtual allows for enhanced and quicker data matching, analysis and reconciliation of transactions – eliminating paper/manual administration processes.

Increased reporting allows up to 30 enhanced data elements to be added to transaction details, to help reconciliation processes.

For more information

To find out more about how ePay Virtual can enhance your business efficiency enquire online.

Enquire online

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