A fraudster needs just one small opening to wreak havoc on your travel program. If a single traveler is targeted by identity thieves or payment fraudsters, it could open a door that puts your company at risk. The best solution might be one you didn’t see coming—the “invisible” protection of virtual payment automation.
Virtual payment automation is an alternative to traditional corporate card and business travel accounts. BCD Travel’s latest whitepaper, A Virtual (Payment) Reality, details the ways it protects your travel program, including:
- Guarding company and traveler information: It’s hard to steal what you can’t see. Virtual payment automation uses a “virtual” credit card, rather than a physical one. It takes the traveler (and the fraudster) out of the payment process. The virtual card is ideal for job applicants, contractors, and others who travel for your company but don’t have a corporate card.
- Securing payments: Virtual credit cards enable layers of security. Card numbers are generated electronically for a particular amount. They work only within a certain time period. And, if needed, they can be restricted to a particular supplier.
- Decreasing internal and external fraud opportunities: Virtual credit cards are fenced in. They’re only good for one purchase. So even if a virtual card number is stolen or copied, it’s of little use to an identity thief.
Virtual payment automation and the virtual credit card at its core create an invisible guard against fraud—protecting your travelers, your travel program and your company.