Exploring Virtual Card Payment Processing For Your Order To Cash System

Virtual Card Payment Processing

When searching for an automated order to cash system for your business, one of the most important considerations to make is how payments will be processed. Without secure, efficient payment processing system, you won?t be able to deliver the ideally frictionless customer experience that will lead to increased customersatisfaction.

One of the ways that you can enhance the payment processing capabilities of your order to cash software is to integrate virtual card payment processing. This guide provides comprehensive overview of how to use this type of payment processing solution for order to cash, along with potential benefits and things to consider before you proceed.

What Is Virtual Card Payment Processing?

At its most basic, virtual card payment processing enables business users to create virtual credit card numbers that can be used to complete payments. When customers enter the virtual card number together with an expiration date, the vendor is authorized to process payments just as they would with any credit card.

Once the payment is processed, the virtual card payment is routed to the merchant?s bank or payment processor. At that point, the merchant is paid in the same way they would be receiving traditional credit card payments.

What Are the Benefits of Virtual Card Payment Processing?

Virtual card payment processing is highly beneficial from the perspective of payment processing and operations. Here are some of the advantages to consider:

Faster Payment Processing: There?s no need to wait for customers to send paper checks or for customers to enter physical credit card information online. Instead, payments are made rapidly with virtual card numbers that merchants can trust.

Simplified Reconciliation: Reconciling payments with virtual card numbers is simpler and faster than manual reconciliation of paper checks. This can help to streamline the order to cash process and reduce the amount of paperwork and data entry necessary in the organization.

Lower Fraud Risk: With virtual card payment processing, it is easier to reduce fraud risk since merchants and banks have the ability to generate tokens that are uniquely associated with each order. This also reduces the risk of forgotten payments and late fees.

Increased Control: Virtual card payments create greater sense of control for merchants. Organizations can set limits on the date when the payment is due, which reduces late payments and gives merchants an enhanced level of control.

Reduced Currency Conversion: Merchants can take advantage of reduced currency costs by using virtual cards that are specially adapted to accept international payments.

How Can Virtual Card Payment Processing Be Used for Order to Cash?

When virtual card payment processing is integrated with order to cash, the process delivers even greater levels of efficiency and automation. Automated virtual card payments can be used for all stages of the order to cash process, from order entry to final payment collection.

The integration of order to cash and virtual card payment processing helps merchants to streamline their operations and eliminate manual workflows, eliminating the need for manual data entry and paper checks. Instead, the entire process is automated, from order and billing to payments.

Moreover, because the payments are processed in real-time, merchants can gain greater visibility into payment statuses, eliminating the need to track unpaid invoices or wait for invoice payments to be processed. This also enables merchants to have better handle on their cash flow, and also enhances their ability to forecast revenue.

What Should You Consider Before Using Virtual Card Payment Processing?

While virtual card payment processing promises many advantages, it is important to keep few considerations in mind before jumping in. Here are some of the key things to consider:

Vault Fee: Merchants typically have to pay vault fee when using virtual card payment processing. it is important to factor this in to your budget.

Data Security: Just like with any payment transaction, security should be of paramount importance. Ensure that the platform you use for payment processing is certified with the proper payment gateways and security protocols.

Merchant Acquiring Bank: Make sure you take the time to select merchant acquiring bank that?s the right fit for your business. The companieshould provide competitive rates and the ability to charge customers with different currencies.


Integrating virtual card payments with an order to cash system provides number of benefits for merchants, from faster payment processing to greater levels of control and enhanced data security. However, it is important to consider the factors outlined above before making the decision to move forward. By understanding the benefits of virtual card payments and sorting out the logistics associated with such setup, you can ensure that implementing virtual card payment processing solution is the right decision for your business.