Virtual card issuing guide for global businesses

Customers today want payment options that are instant, mobile, and rewarding. Virtual cards tick all three boxes, making them a powerful tool for businesses that want to build stronger relationships and scale across borders. In this guide, we’ll walk through what virtual card issuing is, the benefits for global merchants, and how you can get started.

What is a virtual card?

A virtual card is a digital-only version of a payment card that exists entirely online or in a mobile wallet. It has the same details as a physical card — a unique card number, expiry date, and security code — but no plastic is ever issued. Customers can use virtual cards for online purchases, app payments, or in-store transactions through wallets like Apple Pay or Google Pay.

Unlike traditional cards, virtual cards can be created instantly and tailored for specific purposes. Typical uses include paying suppliers, covering employee travel expenses, booking hotels, or managing recurring SaaS costs. 

What is virtual card issuing?

Virtual card issuing is the process of creating digital payment cards through banks and fintech companies. A virtual card is generated instantly with its own card number, expiry date, and CVV. Because they run on global networks like Visa and Mastercard, these cards are accepted wherever traditional cards are.

Virtual cards can be configured in two main ways:

• A single-use card is generated for a one-off payment, such as paying a contractor or settling an invoice. Once used, it expires, adding protection against fraud. 
• A multi-use card can handle repeated charges within a set limit, which works well for subscriptions or regular vendor payments.

For businesses, issuing virtual cards gives more control over how funds are used. For customers, it adds convenience and an extra layer of security since the card can be locked, replaced, or limited without affecting their main account.

Virtual cards vs traditional payment cards

A virtual card number functions the same way as a physical card number, but is issued digitally. Traditional payment cards include debit and credit cards in plastic form, while a virtual payment card is stored in a mobile device or digital wallet.

Benefits of virtual card issuance for global businesses

For international companies, virtual card programmes offer finance teams more than convenience — they improve control, reduce risk, and scale across borders.

• Better spend control: Finance leaders can set card-by-card limits, restrict purchases to certain merchant categories, and track transactions in real time.
  
  
• Lower fraud exposure: Virtual numbers can be tokenised, limited to a single use, or locked to one merchant, which narrows the window for misuse.
  
  
• Operational efficiency: Issuing cards digitally removes the wait for plastic and speeds up employee onboarding, while automated reconciliation cuts down on manual reporting.
  
  
• Cross-border flexibility: With multi-currency support, companies can pay suppliers and manage expenses globally without juggling multiple payment providers.
  
  
• Customer engagement: Businesses can issue branded virtual cards with rewards or cashback features, making it easier to build loyalty and encourage repeat spending.

How businesses use virtual card solutions

• Procurement and supplier payments: Single-use cards make vendor invoices easier to track and reconcile.
  
  
• Corporate expense management: Issued to employees for travel or entertainment, virtual corporate cards enforce limits and policies automatically.
  
  
• Subscription oversight: Multi-use cards assigned to SaaS and software accounts prevent uncontrolled recurring charges.
  
  
• Affiliate and partner payouts: Virtual payment cards provide a secure, fast way to distribute funds to contractors, partners, or affiliates.
  
  
• Embedded finance: Marketplaces and SaaS platforms can embed issuing directly, enabling their merchants or partners to access funds immediately.

How to start a virtual card programme

Who issues virtual cards

Businesses can only issue virtual cards through licensed providers:

• Banks and acquiring banks – Some banks offer virtual card programmes for corporate clients, mainly for procurement, supplier payments, and employee expenses.
  
  
• Fintech issuing platforms – These companies work with licensed banks and card networks to deliver the actual issuing infrastructure. They provide dashboards where finance teams can generate cards instantly, set controls, and monitor usage. Larger businesses can also use APIs to integrate issuing directly into their own systems.
  
  
• Card network partners – Visa and Mastercard do not issue cards directly, but they certify banks and financial service providers that do. Using an authorised partner ensures global acceptance and compliance.

Steps in the virtual card issuing process

1. Define your programme goals – Decide what you want to achieve with your virtual cards. Common objectives include boosting customer loyalty, driving repeat purchases, rewarding referrals, or enabling faster payouts. For example, retailers might issue prepaid cards with cashback or bonus credits to encourage customers to spend more often.
   
   
2. Select an issuing partner – Work with a licensed bank or fintech issuer that supports consumer-facing card programmes. Evaluate them on global acceptance (Visa, Mastercard), regulatory coverage, and integration options such as branded dashboards or APIs.
   
   
3. Design the card programme – Configure key features: whether the card is prepaid, reloadable, or single-use; set spending rules; and design branding (logos, colours). For rewards programmes, define how funds or credits will be loaded (e.g., cashbacks, promotions, or loyalty points converted into value).
   
   
4. Integrate with customer touchpoints – Connect the card issuing platform to your existing systems like loyalty apps, e-commerce checkouts, or customer portals. APIs can allow cards to be issued automatically after a qualifying purchase, referral, or subscription renewal.
   
   
5. Launch and monitor – Make the virtual cards available to customers, whether through your app, email, or digital wallet provisioning. Track usage data (spend levels, redemption rates, card activation) and adjust the programme to maximise engagement and cost efficiency.

How virtual cards are used for payments

From a merchant’s perspective, virtual cards work just like physical cards. Customers can enter the card number, expiry date, and CVV at checkout, or add the virtual card to their digital wallet for in-store tap payments. There’s no difference in how the payment is authorised, routed through the card network, and settled with the merchant.

The key is working with a payment service provider (PSP) that supports card payments across channels. A PSP like Antom ensures that whether the card is plastic or virtual, the transaction flows smoothly — complete with fraud checks, real-time authorisation, and reliable settlement. This means businesses don’t need new infrastructure to accept virtual cards. If they already process card payments, they can accept virtual cards right away.