Monetise Your Online Payments with a Virtual Card Solution
Whether you’re involved in supply chain and logistics, or offering SaaS, there’s one thing that brings everyone together: the need for innovation and exploration. While that might look like something completely different depending on the business’s line of work and future projections, the bottom line is that every business, from enterprise to SME, needs to manage its finances and find ways to affordably scale and grow.
In the majority of cases, this has led to a demand for cost-effective payment mechanisms.
Regardless of vertical, every business has funds to send, bills to pay, and suffered the common pitfalls that come from international money transfers. Finding an efficient, secure, and beneficial payment solution is of paramount importance.
Nowhere is this more apparent than in Europe.
While functioning as an economic pillar of the global economy as well as a HUB for innovation and research in Europe, Malta, is amongst one of the first European states to regulate the gambling sector, for example. Both SiGMA and Kindred Group Plc., a major player in the global online gambling market, call Malta home. It’s why some of most innovative industry leaders will be coming here to attend the SiGMA Europe event.
Whether you’re in the digital gambling space, in an affiliated space, or having nothing to do with iGaming, but are in need of a finance technology solution to support your business, then it makes sense to find a financial partner that can help scale growth, monetize the product, and handle transactions via virtual cards and sub accounts. Fortunately, Fyorin is ready to help, offering effortless digital banking and payments, which is perfect for any growing business.
Virtual Cards Are a Sure Bet
Virtual cards are best described as a financial instrument that can be used to pay securely online anywhere where card payments are accepted. These can be used by a business or its employees. They work as physical cards meaning each card has a unique 16-digit number, expiry date, and a CVV so that you can pay online in a secure way.
With Fyorin, you can issue unlimited single-use or multiple-spend cards for your employees or for any online spending so that you can easily track costs. You can link virtual cards directly with a multi-currency account or sub-account for easy reconciliation.
Given the volume of currency and transactions in any given global or local business, having the right tools is critical. When a business makes use of Fyorin’s corporate virtual cards, it will help them to improve cash flow and provide better transaction visibility and control when compared to bank transfers. Virtual Cards also help businesses to lower their transactional costs too by combining the benefits of physical cards, the functionality of checks, and the efficiency of bank transfers such as SEPA, ACH, and SWIFT.
As well as offering an easy solution for corporate spending, virtual cards also help keep your spending secure. Malicious actors and bots have evolved to targeting money transferred through various payment gateways such as electronic checks, wire transfers, and credit cards. Virtual cards help to avoid this vulnerability.
It only takes a few clicks to set up virtual card restrictions to reduce fraud and excess spending. In fact, you can restrict a virtual card by merchant, merchant category, time of day, or value. Thus no unsanctioned and unapproved transactions are possible. You'll have complete peace of mind that you’re always on top of your corporate spending.
In fact, Fyorin can offer more granular control over your finances with sub-accounts that are easier to monitor. For example, you can:
- Compartmentalise your receivables that mirror your account ledger to speed up reconciliation
- Each sub-account has a dedicated IBAN linked to it
- Receive and send SEPA, Faster Payments, ACH, and International payments
- Set the necessary access level and permissions among your team for each sub-account
- Separate reporting for each sub-account
- Set aside departmental budgets for ease of management
Finally, you can create a virtual card for every online subscription to SaaS services that your business relies on, and set rules when it needs to be topped up. You can easily keep track of all your subscriptions while making sure that you never miss another important payment again.
The benefits of combining sub-accounts and virtual cards speak for themselves. Regardless of your business vertical, Fyorin helps to better control the cash flow and optimize/manage your spending with virtual cards, and make international transactions easier to manage.
Fyorin Offers a Bonus
Most importantly, Fyorin debit virtual cards can increase the bottom line of your business since for every card spend and transaction Fyorin will provide you with a cashback. This helps you to monetize the flow of funds and redirect it to another venue to better serve your business. At Fyorin, our solution to our partners is to help them out not just with banking but also to lower the cost of media buying with the use of our virtual cards.
Fyorin is here to help you maximize your ROI. If you want to find out more about how we can help your business, please do reach out to us: