Unlocking Efficiency: The Transformative Impact of Virtual Cards on Invoice Payments
SAP Concur partners with Extend to embed virtual card functionality into Concur Invoice, enabling businesses to pay invoices securely and quickly using their existing corporate credit card. The article highlights advantages of virtual cards, such as controlling payment amounts and timing, earning rewards, faster vendor payments, freeing up working capital, and gaining visibility into payment delivery.
Impact and considerations
The use of virtual cards in invoice payments improves financial efficiency, enhances security, and optimizes cash flow. For corporate travel and expense management, virtual cards offer a convenient payment method that reduces fraud risk.
Key points
- The global virtual card market is expected to triple by 2030.
- Extend's virtual card functionality is embedded into Concur Invoice, allowing businesses to pay invoices with existing credit cards without new cards or contracts.
- Virtual cards are temporary digital subcards of traditional credit cards, with unique card numbers, validity periods, and spending limits, enhancing security.
- Virtual cards allow control over payment amounts and timing, earn rewards, speed up vendor payments, and free up working capital.
- Concur Invoice automatically generates a virtual card linked to the invoice, simplifying the payment process.
Sources and time
- Primary source
- SAP Concur
- Other sources
- 0
- First source publication
- 4 Dec 2023, 18:42
- Page published
- 14 Aug 2026, 08:17
- Last updated
- 4 Dec 2023, 18:42
- Original links
- SAP Concur Blog：Unlocking Efficiency: The Transformative Impact of Virtual Cards on Invoice Payments (opens in a new tab)Primary source · en · Published 4 Dec 2023, 18:42