Virtual cards are like any traditional corporate cards, but instead of existing physically, virtual cards are digital payment solutions that exist online.
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You can set up a virtual card within a few seconds if you already have an existing Yokoy Platinum Visa card account. With it, you can either use the card for a specific purpose for certain payments or authorize certain people to use it.

Virtual cards are especially optimal for one-time purchases. For example, if an employee who doesn‘t have a company card needs to make a purchase of a new work laptop, their company can issue a virtual card to facilitate the transaction, and terminate it again once the transaction has been completed.

With both physical and virtual cards, your company can decide on restrictions, such as the expiration period, spending limit or when and where the cards can be used. This makes the Yokoy Platinum Visa cards incredibly secure, flexible and very easy to use.

Virtual and physical cards have the same fundamental service offering - enabling you to make work-related payments. However, there are distinctions to consider between the two types of cards, as well as situations where one or the other are more optimal for your spend.

Card setup

Due to their formats, setting up a virtual versus a physical card takes a different amount of time. With virtual cards, once you have an active card account, you can create and activate virtual cards in minutes. Whereas, physical cards are manufactured using a variety of materials, which is why it can take up to ten days for them to be delivered to you.

Card use

The core distinction between the virtual and physical cards is the services each card type is optimized for. Virtual cards are normally used for online purchases such as online bookings or subscription management. This option offers enhanced security, both through the card and through your configuration in terms of the restrictions you have set up for your virtual card (individual spending limits for employees).

However, in certain countries you can also use virtual cards for contactless payment in brick-and-mortar stores if you add them in Google Wallet or Apple Pay.

Physical cards offer a greater range of application as they‘re meant for in-person purchases as well as online purchases. Additionally, when you use a physical card to pay, your data is encrypted and inaccessible to any malicious actors.

Regardless of application, all card transactions can be viewed in the Yokoy platform and are automatically matched with submitted card expense reports to minimize manual effort and maximize transparency.

Ultimately, the choice of card type is a matter of what makes most sense for your expected card use. Whichever you choose, you aren‘t stuck with that option as you can always have both. Both Yokoy Platinum Visa card formats are integrated into Yokoy, and work quickly and flexibly to ensure your smooth business operations as you manage your cards and transaction directly from within Yokoy.