Virtual Cards are Critical to the Security of Your Business and Corporate Card

Virtual credit cards are now a standard for doing business. In a world where fraud is more prevalent than ever and can cost businesses millions of dollars, Virtual Cards are the answer.

Research suggests that 86% of consumers were the victim of some sort of credit or debit card fraud, identity theft, or data breach in 2020, up 6% from the previous year*. By using a virtual card like Tradeshift Go, you can reduce the risk incurred with data theft and protect your organization’s spending.

Companies turn to Tradeshift Go as their virtual credit card solution to:

  • Reduce credit exposure and liability
  • Spot fraudulent activity and eradicate it quickly
  • Create secure payment streams to mitigate fraud occurrences

*source: J.P.Morgan

Secure, limited use cards.

Give your employees a card for a requested purchase in a few seconds. It’s virtual, so it can’t fall into the wrong hands.

Approval that comes first.

Unlike traditional commercial cards, every transaction on Go is pre-approved, by you. A virtual corporate credit card is only issued once you have approved.

Everything in one place.

See everything you’ve approved in one place. It’s like a credit card statement without the fine print. Easy.

Occasional card-on-file fraud with suppliers caused major disruption to popular online lingerie and apparel shop Yandy’s AP operations

Tradeshift Go provided a replenishable virtual card for each supplier that can be deactivated when charge fraud occurs

Results

  • Business continuity and protection of source account
  • Greater transparency, tying suppliers to specific charges
  • Advantage of increased cash-back with Amex Rewards
  • Happy suppliers that don’t have to wait Net-30 for payment

Having security in place with Tradeshift Go has really simplified things for us. The main accomplishment of the virtual card program is that we replaced uncertainty with clarity.

Jeff Watton
Co-CEO, Yandy

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