Virtual Cards for SMEs - Don't Miss These 4 Features


Running a business is time-consuming and challenging no matter its size. Some days running a business can feel like constantly solving one problem after another, without an end in sight. Even with the right team, filled with knowledgeable employees and seasoned experts, some challenges are still bound to occur. Chief financial officers (CFOs) and their team of financial experts within SMEs face many of these challenges, as they are the backbone of a business's financial success. Making the jobs of CFOs easier within a company can significantly increase the chances of success, which can easily be done by delegating their long list of responsibilities to current technology and benefitting everyone involved. 


CFOs sit directly below the CEO of a company, making them important players in the success of SMEs. Their extensive list of responsibilities ranges depending on the type of SME but in most cases encompasses everything from analyzing a company's financial strengths and weaknesses to tracking cash flow. All of their responsibilities add up to ensure the financial well-being of a company by taking in data to manage all the financial actions of a company. 


Since an SME's success relies heavily on its CFO's success, finding ways to improve their workload is beneficial to them and the company as a whole. That's where virtual cards come in. 


Virtual cards are best described as a financial instrument that a business can safely use to make purchases online. They are entirely virtual but work just as a physical card would, each with a unique 16-digit number that is associated with the individual card. Virtual cards can improve cash flow, reduce fraud risks and provide transaction visibility by combining the benefits of physical cards, the functionality of checks, and the efficiency of bank transfers such as SEPA, ACH, and SWIFT. These benefits all add up to significantly reducing the workload of CFOs when it comes to monthly book closings and being able to easily track transactions throughout the company. 


Is your company looking for virtual cards for your SME? If so, don't miss these four features:

1. Unlimited Cards

Physical cards are typically handed out to different departments or employees within a company to make purchases they deem appropriate. Though these employees are trustworthy and reliable individuals, even they may sometimes misplace their company cards. A misplaced company card is not only a hassle to find but it poses an even greater risk to the company. Any unauthorized individual who comes in contact with the card has the power to commit fraud and take money that isn't theirs to take. Stolen funds are hard to retrieve and may sometimes need to be considered losses by the business. Once the company becomes aware of the missing card, which may take some time, they must then take immediate action to freeze it and remove it from the cards on file within the business. A new card must then be made and replaced within active subscriptions and merchant accounts that may have it saved on their end. 


With virtual cards, this hassle can be avoided due to one of their unique features. Making and destroying virtual cards is fast and easy as they are controlled through a website or app. Your SMEs employees will never lose their virtual card as it is not a physical object that can be left behind or hidden in unseen places. If an employee forgets the necessary information to access their multi-use virtual card, it can easily be deleted and a new one can be created. Your SME can create an unlimited amount of virtual cards for all of your employees to use, even your most forgetful ones, without any additional fees or hassles. This not only saves time but adds an extra layer of security to all the virtual cards your SME decides to create. 


2. Runs on Mastercard

Forms of online payment are not as commonly recognized by vendors and only some online services, like subscriptions, accept them. These typically include PayPal, apple pay, google pay, and other forms of online payment that aren't as popular as these other household names. Because of this, your SME may be left with little to no options when it comes to choosing a form of payment to give out to vendors and other services that require payment. The four major card networks are Visa, Mastercard, American Express, and Discover, making up the majority of cards in circulation around the world. Physical cards that come from trusted banks are recognized by everyone, making them one of the few options available that won't be turned away. 


However, unlike other online forms of payment, our virtual cards function just like any traditional card and can be used anywhere Mastercard is accepted. This allows your SME to continue conducting normal transactions with businesses that accept MasterCard without any disruptions. In fact, the transactions made with virtual cards look the same to merchants so there isn't a need to further explain how your employees will be paying for necessary materials. 

Book a demo with Fyorin

3. Mobile Access  

In a technology-driven world, having instant access to bank accounts and other necessary information is not only preferred but expected by the newer generations. While most banks already provide some online services through phone apps or websites, they are often limited and may still require you to make a trip to your local bank. This is not only inconvenient but it takes you away from more important matters that need to be handled within your SME.


Since virtual cards are already an online service, all of their functions can be accessed through any device with internet access. This means you can view account activity on a stationary computer or on a mobile device if you find yourself on the go and in need of important information.  By logging into your online account, you'll have access to a variety of useful functions. For example, you can easily manage expenses, control spending, and track online subscriptions all with the tip of your fingers!


4. No Fees

It’s hard to come by something that is actually free nowadays. Hidden fees and additional charges that may be tucked away within a lengthy contract often pop up unexpectedly and at the worst times. By the time you become aware of these additional costs, it is already too late to back out of the contract and you may be stuck paying undesirable fees every time you make a transaction. Though you may already be used to these nasty surprises, you and your SME can rest assured in knowing that virtual cards do not come with any additional fees. 


With Fyorin, there are no costs when applying for virtual cards and it's easy to start. There are no hidden fees or additional charges that will creep up on you at any time while using this convenient service for your SME. In fact, Fyorin debit virtual cards can increase the bottom line of your SME since for every card spend transaction Fyorin will provide you with a cashback. This helps your SMEs to monetize the flow of funds.


Suppose you wish to link your virtual cards directly to a multi-currency account or sub-account. In that case, your SME can pay and receive foreign currency by continuing to pay the small and transparent fee for the best exchange rate on the market without additional fees for using a virtual card.


If virtual cards seem like the right fit for your SME, partnering with Fyorin will provide your business with the best features virtual cards have to offer. Fyorin provides digital businesses with virtual cards that are capable of tracking expenses and subscriptions, simplifying reconsolidation, and controlling company spending. By simply opening up a multi-currency account, your business will have access to unlimited virtual cards that can easily be linked to it, giving your company the freedom to use virtual cards anywhere MasterCard payments are accepted.


If you want to find out more about how Fyorin can help your business, please do reach out to us at or read more below! 

Want to Learn More? Check Out Our Blogs!

Start simplifying your

finance operations today