5 Ways Virtual Card Delivers Ultra-Secure Payments

Posted on Jun 26, 2018 9:58:56 AM by Tom Parrish

Virtual card payments are now used for more than $90 billion in transactions annually, yet for many potential users and their suppliers, payment fraud is a lingering concern. With good reason: If a company lacks a secure payment platform, payment fraud can be a routine issue in the AP department. In 2016 The Association for Financial Professionals reported the highest percentage of payment-related fraud since 2005, and stated that 75% of respondent companies had been victims of payment fraud. More recently, from January to March 2018 an estimated 1.4 billion records were compromised. Fortunately, the virtual card payment platform directly correlates to a decrease in compromised records.

We've long known that electronic payments like ACH and wire offered more protections than cash or check. But the advent of virtual card solutions has brought next-level security that is unmatched in the corporate payables and consumer spheres. Virtual credit cards offer many security benefits, protecting users from threats ranging from cyber-criminals hacking records to dishonest vendors attempting to invoice more than what is really owed. Single-use credit cards truly are the most secure way to pay. Here are five reasons why:

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Topics: SUGA, security, Payment Fraud

4 Tips for Data Security in Our Electronic Payments World

Posted on May 11, 2018 10:52:05 AM by Chad Clay

Data security for electronic payments is serious business in the world of B2B transactions. According to Infosecurity Magazine, close to 1.4 billion records were compromised in data breaches between January 1 and March 31 of 2018. Happily, these numbers - while still staggering - actually represent a significant decline from Q1 of 2017, which saw 1,442 incidents exposing 3.4 billion records. Here are four ways to make sure that downward trend in data security incidents applies to the electronic payments you make to your vendors:  

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Topics: security, Payment Fraud, SUGA

The Amazing Convenience of Single-Use Virtual Credit Cards

Posted on Jul 13, 2017 8:03:00 AM by Chad Clay

Single-use virtual credit cards are one of the newest and most exciting conveniences to hit the payments industry. Most organizations can benefit from learning more about these types of cards and the various advantages to using them, beyond helping them pay their vendors in a timely and secure manner.

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Topics: Virtual Payments, SUGA