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Ghost cards and virtual cards allow you to make payments without depending on a physical card. Let鈥檚 explore ghost cards and virtual cards to help you decide which payment method can benefit your business the most.听
No. While they operate very similarly (during the point of purchase and from a supplier standpoint), they have different characteristics that influence the benefits your business receives.
Virtual cards are digital-only versions of credit cards. They are a touchless form of payment that is typically issued for single use, so you receive a unique card number, expiration date, and CVV with each virtual card.听
Virtual cards rely on a fully integrated experience with your ERP (enterprise resource planning) software. By setting this up, you are automating the card creation and processing experience for your accounts payable team, which saves them time.听
Ghost cards (also referred to as lodge cards) are also a digital-only type of card that鈥檚 easy to get up and running quickly. Like a virtual card, a ghost card exists as digital-only, so you don鈥檛 need to wait for physical credit cards to be processed and sent by your card provider before you can start making payments.
With a ghost card, you typically receive card numbers, security codes, and expiration dates that don鈥檛 change, so these types of cards can be used repeatedly to make payments (unlike virtual cards).
Choosing between ghost cards and virtual cards ultimately depends on your specific needs and preferences. Virtual cards come with perks that ghost cards don鈥檛 have. But ghost cards can provide an opportunity for you to quickly transition to digital payments until your virtual card program is ready.
Choose a virtual card provider that has the pricing, service, and relationships to help you build out the payment experience that鈥檚 right for you.听聽
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The information in this blog post is for educational purposes only. It is not legal or tax advice. For legal or tax advice, you should consult your own legal counsel, tax and investment advisers.
Subscribe to our Inside 女奴视频 blog and follow us on social media for the insider view on everything 女奴视频, from payments innovation to what it means to be a 女奴视频er.
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