Did you know that card companies collected 172 billion last year as swipe fees from businesses? When considering a small cosmetic retailer, it could eat into already tight margins. An instant virtual card can reduce the extra processing and platform fee for your budget business. When compared to debit cards and their disadvantages, virtual cards are good and far better than traditional cards. Here is why you should consider virtual cards in your businesses for sure:
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What are Virtual Cards?
Virtual cards are digital forms of physical debit or credit cards for making payments against purchases made through mobile apps or online. Users don’t need to carry physical cards or cash. Businesses can make use of virtual cards for online transactions and purchases. Zil.US offers virtual cards linked to your checking account and digital wallet. One can easily and instantly open an online checking account or digital wallet with the platform.
How do Virtual Cards Benefit Cosmetic Retailers?
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Smudge-Proof Security
Consider a situation where a cosmetic retailer orders $10,000 worth of organic lipsticks from a supplier. The user can generate a virtual card specific to this transaction instead of sharing debit card details linked to the main account. If the supplier’s database is ever breached, the card details can’t be reused or exploited.
Virtual cards are not physical cards, so the chance of getting stolen is much less. Zil.US provides advanced security technologies like encryption and multi-factor authentication to prevent unwanted and illegal access to accounts.
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Instant Glam: Generate Cards in Seconds
What if an employee needs to make an urgent purchase of decorative items for a holiday sale event? The software can help you during emergency times. Businesses can generate instant virtual cards via Zil.US’s mobile app or online webpage. All you want to do is select payee, add your email ID, enter the amount, and create cards. The retailer can instantly issue a virtual card with the required amount and manage the purchase via employees.
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Cash-Free Business
Imagine a retailer ordering bulk foundation supplies from an international distributor. The retailer would worry about cash handling and extra processing fees when using traditional payment methods. Users can make cashless payments with virtual cards for affordable prices via the software. Zil.US allows you to eliminate hidden charges and extra processing fees with virtual cards.
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Perfectly Blended Budgets with Corporate Expense Cards
Businesses and individuals can issue corporate expense cards, a type of virtual card provided by Zil.US for employees’ spending, by setting limits. For example, you can give part-time marketing associates a virtual card with a limit to purchase Instagram ad boosts. Zil.US allows you to create customizable expense cards that can be refunded if needed. Users can deactivate or reactivate cards after usage or improper transactions happen. The platform allows you to fund the cards via ACH or wire transfer without time restrictions.
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Easy and Automated Accounting
The platform offers a digital checkbook register to record all virtual card transactions that your company makes on a single interface. Users can monitor and manage cash flow by automatically recording transactions without extra charges. Through Zil.US, you can make payments, have detailed transaction records, and organize and control funds.
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Pallete of Possibilities: Multiple Cards
The all-in-one platform allows you to generate multiple virtual cards from a single account simultaneously. Instances where multiple virtual cards are helpful:
- A retailer can create separate virtual cards for different vendors—one for buying lipsticks, another for skincare products.
- A corporate trainer running workshops in multiple stores uses a separate virtual card for travel, meals, and workshop materials.
Online Checking Accounts Without Extra Swipe Fees
Zil.US offers online checking accounts for businesses and individuals with zero fees and no initial charges. Users can open multiple online checking accounts for different uses. Checking accounts can be created for:
- Personal expenses
- General operating purpose
- Inventory purpose
- Payroll management
- Marketing and advertising
- Emergency funds
- Tax process and many more
The platform offers instantly accessible online checking accounts without maintenance charges and minimum balance requirements. Users can conduct affordable and secure payments via ACH, wire transfers, virtual cards, check mail, and instant transfers.
Why Debit Cards Are Not Suitable for Business Transactions?
- Debit cards are directly connected to the account—payments you make are directly withdrawn from the account.
- Every transaction is immediately deducted from your account balance. Cash flow cannot be maintained.
- Debit cards come with a physical card that exposes them to risks like theft, loss, or skimming.
- Debit Cards incur high swipe fees compared to virtual cards.
- If overdraft protection is enabled, spending more than the available balance can result in high fees.
- Users cannot generate multiple debit cards for different purposes from a single account.
Conclusion
Every penny can be saved with the platform’s virtual card feature for small cosmetic retail businesses. Virtual cards eliminate swipe fees, enhance security, and simplify your transactions. Zil.US makes it easy to issue instant virtual cards, automate accounting, and manage expenses with customizable options—all affordable and secure. Switch to the software’s virtual cards today and watch your business shine like never before!
