Payment Cards FAQ: More Cash Rewards, Less Effort

by Steve Carter

Unlock your Payment Solution

Organizations are rethinking their traditional payment methods as they seek to maximize savings while securely streamlining the invoicing process. Ivalua is at the forefront of this transition, providing a comprehensive card-based solution that operates with leading banking partners. 

With its simple yet powerful interface and secure data handling capabilities, customers can capture rebates and enjoy greater control over their spend – all in an efficient manner tailored to meet your needs!

What are Payment Cards? 

Payment Cards are a convenient, cost-saving option for businesses that need to manage their cash flow. These credit cards issued by banks provide quick payments and improved automation – plus there’s the potential of rewards with each purchase! With terms up to 30 days or more, companies can reap the benefit of fast payment without sacrificing budgetary flexibility.

What is a Purchase Card (P-card)?

A Purchase Card or P-Card represents the physical plastic cards associated with a user. Each card has a predetermined budget, card number, and CVV and are used for business expenses where a supplier relationship or account doesn’t need to be established. With P-Cards, the reconciliation and categorization is a manual process. Due to the risk of misuse or fraud p-cards are limited to individuals and this restricts the program usage within a company.

What is a Virtual Card (V-Card)?

Leverage the power of virtual cards (V-cards) for a secure and efficient way to manage your spending. With V-card capabilities, you can limit each card’s value or expiration date with automated CVV creation per use – all within Ivalua! This practical setup reduces fraud risks while promoting better user access control. Plus it streamlines reconciliation against individual charges in no time!

How does Ivalua’s Payment Card Solution differ from the alternatives?

Ivalua has reinvented the way companies manage their spend and reward programs by integrating corporate cards into its purchasing platform. Our customers have access to both traditional P-cards as well as more dynamic V-cards in any stage of the equation – from sourcing goods, to paying for a subscription, or one-time costs. This new approach gives clients total control over expenditures, creating greater value with less hassle!

What card issuers or banks does Ivalua support?

As well as offering more use cases, Ivalua has chosen to allow greater flexibility around the card issuer or bank. The technology employed by Ivalua allows our clients to use an existing p-card or connect to over 50 banks with V-card capabilities. This allows our customers to maintain existing banking relationships, whilst increasing controlled card usage. 

Our customers now have more freedom when it comes to card issuers and banks! With secure V-card capabilities provided by over 50 partnering banks worldwide, keep the same banking relationships–all with greater spending control!

Looking for a way to maximize your cash rewards? Find out what’s best for your needs and unlock great benefits on our Payment Cards Resource Page