Virtual Card Programs: The Pitfalls of a Cookie Cutter Approach
Businesses that choose a highly customizable virtual card solution versus a cookie-cutter approach will gain flexibility and control without sacrificing speed to market.
Get the guide
The evolution of virtual cards has allowed more elaborate spend controls and customizations that help businesses stand out from the crowd.
Businesses can now launch card programs and customize payment services with their own enterprise rules and business logic without having to rely on an external party. They can manage multiple payment instruments from a single platform.
Viewing virtual cards as a cookie-cutter payment solution is one of the main mistakes organizations make when deciding on a new card program. In this guide we'll look at 4 pitfalls of a cookie cutter approach:
It is what it is
Cash flow
Transaction visibility
Static vs. dynamic spend controls
Both aspiring and current virtual card program providers seek to clearly understand the limitations of off-the-shelf solutions compared to open platforms that support a high degree of customization.