“ Business owners, especially at the smaller end of the spectrum, are reluctant to give cards to their employees,” says Raj.
“ With business payment controls, I can put constraints on where employees might use it, what they might use it for, when they might use it – all while still getting the efficiency benefits of digital payments.”
Third, VCNs help organisations optimise working capital by better aligning payment timing with contractual terms. In today’ s volatile economic environment, this benefit has become increasingly significant.
“ If you can match payment terms better and leverage contractual terms better, you actually can reduce working capital for buyers and sellers,” Raj continues.
“ Given today’ s rate environment, working capital is precious for everyone from small businesses to large corporates.”
Finally, virtual cards deliver a more intuitive experience for employees, addressing the growing expectations gap between consumer and business payment systems.
As new generations enter the workforce, this user experience factor becomes increasingly important.
“ With another generation of employees entering the workforce that are used to incredibly seamless consumer experiences in their personal lives,
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