As IT organizations are progressively dependent on digital services, they find virtual cards very appealing. Free virtual debit card provides unmatched convenience and flexibility. These cards provide firms with the ability to monitor expenses and keep a close eye on their budget. If any suspicious activity is detected, firms can also easily block cards.
What is a Virtual Debit Card?
A virtual debit card function just like your physical card. The only difference is that virtual debit card doesn’t have any physical form. You can easily make online transactions using virtual debit card free. Cardholders can access the virtual card through a payment app or website. The card includes details such as your name, card number, CVV, and expiry date.
In 2022, the global market for virtual cards was worth $13.31 billion. It is expected to grow at a rate of 20.9% each year from 2023 to 2030. The demand for these cards is expected to increase in the coming years due to increasing number of digital transactions.
Advantages of Using Virtual Debit Card
Highly Secure
Since these cards exist in digital form there is no possibility of card being stolen or lost. Virtual cards come with built in security features which prevents unauthorized access.
Easily Block the Cards
If you notice any suspicious activity, you can quickly block or freeze the card by logging into the mobile app and click block option.
Instantly Activated
Unlike physical cards where you have to wait for cards to arrive. Virtual cards can be used the moment it is activated. The activation process is quite easy, just log into the mobile app and complete the KYC and OTP authentication process.
Set Spending Limits
You can easily keep tab on how much money you want to spend using these cards. Individuals can set custom spending limits, giving them more control over expenditures.
Enhanced Control
You can quickly lock or unlock your virtual card using your phone whenever you want, while still having access to your physical bank card.
Do IT Companies Need a Virtual Card?
IT companies can greatly benefit from instant virtual debit card because of the increased convenience and flexibility. As virtual cards provide real-time control how money is utilized, IT companies have better oversight over the spending pattern. This helps them to prevent overspending and stay within budget. The utilization of these cards simplifies the process of paying for software subscriptions and cloud services etc.
Transforming IT Transactions
Information Technology companies depend on various software applications and online services for their work. Zil’s free virtual debit make acquisition of digital resources easier. The instant virtual debit card guarantees swift transactions for procurement of software licenses or paying subscription fees for cloud storage etc. As the card is stored on mobile device it is easily accessible. The team can make purchases at any time without the need for physical cards.
Strengthen your Team with Multiple Cards
Zil recognizes the distinct requirements of IT firms. These firms consist of various departments and project teams each with their own budgetary requirements. Through the platform, you can issue multiple cards from a single account, each having its own spending limit. You’ll be able to issue individual virtual cards to employees. Each of these virtual debit cards can be equipped with its distinct spending limits and conditions.
Budget management is easy across the teams and everyone get a clear understanding of spending cap. Furthermore, the task of monitoring expenditures is effortless, as each transaction can be associated with the corresponding team member or department. Zil also provides the option of locking virtual card through mobile app.
How to get virtual cards?
- Log in to zil.us
- Select an account
- Click on the Manage Cards button
- Click Add Card
- Select Virtual Card
- Provide Card label/Nickname and give spending limit and time span
- Set card usage restrictions from advanced options only if needed
- Click the Next button
- Confirm billing address
- Click the Submit button
- You can view the card details when you click the Manage Cards button
Checking Account
A checking account is a type of account that can be opened at any financial institution to deposit and withdraw money. Checking accounts are not same as savings account. The main purpose of opening a saving account is to keep money for long term. On the other hand, checking accounts are intended for daily transactions.
Zil provides a checking account with no monthly fees, minimum balance requirements, or hidden fees. You can easily make ACH, wire transfer using the account. Additionally, users can easily access the account from anywhere through the platform’s mobile application.
Virtual Debit Cards are future of transactions. These cards offer innumerable benefits to customers. The ease of use, increased security, and the ability to set spending limit make it a preferred choice among people.
