FinTech Glossary

Definition

Virtual cards are digitally issued payment cards with unique card details, used primarily for online or contactless transactions, offering enhanced security, control, and flexibility compared to physical cards.

How Virtual Cards Work

Virtual cards are generated instantly and can be configured with:

1. Merchant-specific restrictions
2. Transaction or monthly limits
3. Defined validity periods

They are commonly used for SaaS subscriptions, online purchases, and vendor payments, reducing the risk of card misuse or data exposure.

Why Virtual Cards Are Important

Virtual cards help businesses isolate spends, prevent fraud, and avoid sharing physical card details. They are especially useful for recurring online payments, where card security and visibility are critical. For finance teams, virtual cards simplify tracking and cancellation of unused subscriptions.

Purchasing Virtual Cards

EnKash offers virtual cards that allow businesses to assign cards to specific vendors or use cases. This improves spend visibility, reduces unauthorised usage, and simplifies subscription and online expense management.