Virtual Card

Earn Monthly Rebates on Vendor Payments

  

✓ Receive up to 1% cash back

 

✓ You provide a list of vendors—We enroll them to accept your card payments

 

✓ Set up your payables for scalability in 1-2 weeks

Learn More About Our Virtual Card for Business

Our virtual card is one of the newest, most flexible electronic payment methods available for businesses today. Securely send digital payments with single-use, 16-digit virtual credit cards, saving time and earning rebates in the process.

 

 

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Earn As You Spend

Earn rebates on the payments you make. CheckAlt's Virtual Card program has the benefits of a corporate card and the perks of a premium rewards credit card.

 

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Reduce Transaction Costs

Our virtual card program can help reduce the costs of printing and postage associated with paper payments, and free up capital with automatic reconciliation.

 

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Preserve Existing Technology

CheckAlt’s team will integrate our virtual card system, without the need to change your accounting software. Our goal is to enhance the process you already have.

 

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Simplify Reconciliation

Our payment portal allows you to easily track and reconcile payments, giving you more control over your payments and valuable insight into expenses. 

 

By the Numbers: Virtual Cards for Your Business

 

Business Annual Revenue $25,000,000 $50,000,000 $100,000,000 $125,000,000
Check Payments Converted to Virtual Cards Per Year (Estimated) 1,549 3,872 9,680 14,520
Processing Time Reduction Per Year (Estimated) 129 Hours 323 Hours 807 Hours 1,210 Hours
Accounts Payable Spend Converted to Virtual Card (Projected) $3,920,000 $9,800,000 $24,500,000 $36,750,000
Savings by Reducing Paper Check Payments Per Year (Estimated) $34,074 $85,184 $212,960 $319,440
Rebate Revenue Per Year (Projected) $29,400 $73,500 $245,000 $367,500
Total Value of Virtual Card Program** (Estimated) $63,474 $158,684 $457,960 $686,940

How Do Virtual Cards Work?

 

Virtual credit cards are similar to checks. Each single-use, 16 digit virtual card is created for one transaction with a set payment amount. Here's how it works:

1

Your Business

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SEND
PAYMENTS

Your company approves invoices and makes payments from its accounting system, just as you do today.

2

CheckAlt

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CREATE
CARD NUMBERS

CheckAlt creates custom generated card numbers and sets maximum charge amounts for each payment as indicated by your business.

3

Your Supplier

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PROCESS
PAYMENTS

Your supplier is provided each single-use card number and processes the payments from CheckAlt, to be settled within 24-48 hours.

4

CheckAlt

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RETURN
TRANSACTION FILES

CheckAlt then compiles and provides a transaction file similar to what you would receive from your bank, making reconciliation fast and secure.

5

Your Business

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RECONCILE
PAYMENTS

Your business takes comfort in knowing CheckAlt has saved your business time, streamlined payments, and reduced fraud risk.

CheckAlt is the largest independent provider of treasury services and integrated payment solutions in the U.S., offering a comprehensive suite of leading-edge payment solutions for merchants, bolstered by our excellent customer service. CheckAlt is not a bank, which means your company can keep or change its treasury relationships without impacting your virtual credit card program. Our virtual card program leverages the largest virtual credit card issuer worldwide, and the second largest commercial Mastercard virtual credit card issuer in North America overall.

How CheckAlt Supports Your Virtual Card Program

 

Set Up Your
Virtual Card Program

CheckAlt can get your virtual credit card program up and running in one to two weeks, without weighing down your implementation team. A dedicated relationship manager will liaise between your company and our in-house team as they integrate our technology with your accounting software. As soon as your program is live, your business can start earning rebates.

Enroll
Your Vendors

CheckAlt complies with all the necessary vendor information to determine where card payments should be submitted, because you should be focusing on running your business. We continuously enroll your new vendors for the life of your program.

Establish
"Pay-for-you" Service

Some vendors-including utilities, media, supply companies, and others-accept credit card payments online or by phone only. Your virtual card program empowers CheckAlt to deliver these payments for your business fast, reducing operational costs and earning more rebates.

Provide
Continuous Support

At CheckAlt, we partner with our clients to build integrated payment solutions. From our relationship managers to our implementation specialists, all the way up to our Chairman and CEO, CheckAlt is providing faster, more secure solutions, offering assistance when you need it most.

 

*We do not guarantee rebate rates. Rebate rates may change based on creditworthiness and credit terms.
**These are estimates based on industry research for illustration only. Actual results vary.