{"id":1480,"date":"2021-04-08T14:04:37","date_gmt":"2021-04-08T08:34:37","guid":{"rendered":"https:\/\/open.money\/blog\/?p=1480"},"modified":"2023-07-06T12:55:58","modified_gmt":"2023-07-06T07:25:58","slug":"everything-you-ever-wanted-to-know-about-virtual-cards-open","status":"publish","type":"post","link":"https:\/\/open.money\/blog\/everything-you-ever-wanted-to-know-about-virtual-cards-open\/","title":{"rendered":"Everything you ever wanted to know about Open’s Virtual Cards"},"content":{"rendered":"Did you know that Open \u2014 Asia\u2019s first neo-banking platform for SMEs and Startups has built virtual cards?<\/span>\r\n\r\nThat\u2019s right! Open\u2019s virtual cards help manage online subscriptions for your business. <\/span>\r\n<\/span>\r\nBut we get it. This piece of information doesn\u2019t stand out on its own. <\/span>So we\u2019ve created a list of frequently asked questions around virtual cards by our users. <\/span>Be sure to give them a read to understand how acquiring virtual cards will ease up the process of managing all online subscriptions.<\/span><\/span>\r\n

1. What are virtual cards?<\/b><\/span><\/h2>\r\nVirtual cards<\/strong><\/a> are virtual credit cards<\/em> that can be used to pay for online expenses, be it subscriptions or any online purchase.<\/span>\r\n\r\nWe have seen businesses struggle to manage their online spendings and reconcile them.<\/span> That\u2019s why we built virtual cards. <\/span>You, as a founder, or a business owner, can create and assign it to team members from your Open dashboard. And load money to it via your Open account.<\/span><\/span>\r\n\r\nDesigned to effortlessly make payments for online subscriptions, a virtual card is a digital version of a credit card that comes with a unique 16-digit credit card number. It functions like a regular credit card, making it quick and easy for you to make online payments for your business.<\/span>\r\n\r\nThen comes the next most obvious question!\u00a0<\/span>\r\n

2. How do virtual cards help in managing SaaS\/ Digital spends?<\/b><\/span><\/h2>\r\nStay in control of your spending limits with virtual cards. Just create a unique card for each vendor\/ subscription your company uses and pay for only the active services. And every time a payment has been made, you’re notified on WhatsApp.<\/em> Cool, right? But there’s more.\r\n<\/span>\r\n<\/span>By setting a spending limit that can be changed as per the need, activating notifications for new purchases, and withholding payments for unnecessary subscriptions \u2014 you can save a fortune. Not to mention, you stay on top of all existing SaaS\/ Digital subscription payments. Just set up for recurring payments the first time and you\u2019re good to go.<\/span><\/span>\r\n\r\nWhat\u2019s more?<\/span>\r\n
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You can set custom tags, auto-reconcile payments, stay within your monthly budget and oversee all your transactions in one place.\u00a0<\/b><\/span><\/h3>\r\n<\/blockquote>\r\nThis makes the reconciliation process super-quick and free of complications. So when you check out your monthly expense reports, it\u2019s going to be a win-win situation after all.<\/span>\r\n\r\nNeed more information? Check out our video below.<\/span>\r\n\r\n