Published on Mon Jan 01 2024 14:00:00 GMT+0000 (Coordinated Universal Time) by Kenny Horn

Introduction

Issuing payment cards to users, whether for businesses, employees, or customers, can be an expensive and complex process. By leveraging Virtual Accounts, you can issue cards, load funds, and manage transactions in a much simpler and more cost-effective way.

How It Works

1. Create Virtual Accounts for Cardholders
   Each user who needs a payment card can be assigned a virtual account. This account holds the funds that will be used on the card.

2. Loading Funds onto Cards
   Use ACH wire transfers or RTP to load funds onto the virtual account, which is then accessible via a physical or virtual card.

3. Card Usage and Transaction Monitoring
   Transactions made via the card can be monitored in real-time, and any updates or alerts are instantly reflected.

Benefits

• Cost-Effective: Simplifies the card issuance process, saving on administrative costs.
• Real-Time Monitoring: Track every transaction in real time.
• Customizable: Manage and load funds for each cardholder’s specific needs.

To learn more about Card Issuing with Virtual Accounts, visit Card Issuing.

Written by Kenny Horn