Virtual Card Issuing

Virtual Card Issuing comprises Virtual Card Numbers (or VCNs for short), which are electronic payment cards created specifically for e-commerce or cardholder not present transactions. They provide an easy, secure and automated way for businesses to make B2B payment to suppliers that is faster and reduces costs versus bank transfer and other settlement methods. NEC Payments Virtual Cards can be used at any merchant accepting MasterCard without any processing or commercial differences from regular plastic cards.

What do we offer?

WE DO CREDIT

WE DO PREPAID

What are the Benefits of VCNs

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Real-time Reporting

Real-time Reporting Platform

Our reporting can be supplied in a variety of different formats which can be raised manually or pulled into your back office via an sftp. Our comprehensive set of reports contain all the data you need to reconcile with your accounts payable teams.

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Ancillary Revenues

Creating ancillary revenues, reducing operational overheads

Creating ancillary revenues, reducing operational overheads such as the cost and administration of supplier payments, and protecting working capital are hugely important in the travel industry. Our virtual cards are available in both prepaid and credit options; but it doesn’t end there – the credit lines we offer may be free of collateral requirements enabling you to better use your working capital to grow your business, and we will provide sustainable rebates that generate you ancillary revenue.

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Mitigating Risks

Mitigating Risks

Being able to control spend at will can be very complex and even more so when dealing with many suppliers and multiple layers of technology. You have complete control over how and when each virtual card can be used for complete peace of mind.

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Reduce Forex Exposure

Reduce Forex Exposure

Increasing your global footprint will come with a multitude of challenges and mitigating foreign exchange exposure being a notable one. It’s understood that travel agencies usually deal with high transaction volumes, often with multiple currency payments to a worldwide network of suppliers. Meaning that, unless there’s an in-house treasury function, foreign exchange associated surcharges can become a soaring cost.

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Complete Control

Extending Control and Mitigating Risk from Fraud and Supplier Default

Using NEC Payments virtual card solution provides you with complete control over how and when each virtual card can be used to reduce risk and provide for complete peace of mind.

Our flexible and feature-rich technology platform enables you to manage every area of operations contact us to know more.

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API Integration

Real-time API Integration, Web Portal, and Reporting Platform

NEC Payments fully integrated virtual card and payment processing platform is a secure, and highly adaptable technology resource that our clients leverage to increase business efficiency, control, and drive sales volumes.

Real-time secure APIs enable integration with customer and supplier systems to automate and optimise work flows, administration and reconciliation, and provide value-added business information. A friendly and responsive web portal provides real-time access to create, track, reconcile and report on your usage of virtual cards, enabling your call centre staff to make payments “on the fly” whilst interacting with clients.

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Protect Your Money

Protect Your Money

Control how and when each virtual card is used: set the validity, define a maximum spend and limit the number of transactions for which the card can be used for complete security. As a payer you are also protected by MasterCard’s price promise – that being protected against suppliers defaulting or going bankrupt.

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Profit Center

Turn your back office into a profit center with virtual card payments

Ultimately, it’s profit that makes all the difference! Optimising operational workflows and supplier payments using our virtual payment solution enables companies to generate new revenues and reduce operational overheads.

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B2B Payments within Travel

Statistics suggest a large proportion of travel companies haven’t yet fully addressed the true cost of supplier payments to their organizations and in doing so are missing out on how B2B payments can be turned into profit.

Converting sales and collecting funds is paramount, and so identifying technology and financial services partners and optimizing your front-end payment acceptance processes must be given priority. But, this is only half the story and your back-end outbound payment processes can also be optimized to make a fundamental difference to your operational workload, efficiency, and profitability.

Working with us will transform resource consuming back-office processes into a system that will be smooth and seamless, will improve your working capital, and provide an incremental revenue stream to boost your bottom line profits.

Margins within travel are notoriously low – so take steps now to lessen your workload, de-risk financial operations, and make a notable difference to your P&L.

Meet our sales team

  • Suhail Uddin
    Suhail Uddin Business Development Director
  • Sujai Lal
    Sujai Lal Head of Corporate Sales
    Bahrain
  • Sujeesh Kumaran
    Sujeesh Kumaran Corporate Sales
    Bahrain

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