A virtual card is a fast, secure way to pay card-accepting vendors. It's a delivery method that allows you to make credit card payments without using your real card number.
NOTE: The option is only available when paying with a Capital One Business card.
The option to send a virtual card will not be available when selecting other payment methods.
Why use a virtual card?
- Fast: Virtual cards can be processed as soon as they're received
- Secure: Your card details are kept private and never shared. The virtual card is specific to a single payment for the exact amount
- Efficient: Processing is automatic and can be done 24/7—even on holidays or weekends
- Convenient: The vendor can process virtual cards with their point-of-sale (POS) terminal (Standard card processing fees may still apply on the vendor side)
- Free to send: There’s no extra cost for choosing virtual card as a delivery method plus you won’t pay the 2.9% Capital One Business card fee
More about Accounts Payable virtual cards
The virtual cards that are send via Accounts Payable are issued by Capital One and have specific characteristics:
- A unique 16-digit digital card number
- A 3-digit CVV code
- Each card is issued for an exact amount specific to a payment
- Each card can only be processed once
- The cards expire 14 days after they've been sent
How do virtual cards with Accounts Payable work?
For example: John is a wedding planner who wants to pay Sarah, his florist. The invoice's due date is today. So, he pays her with his Capital One Business Card and sends her a virtual card:
- John schedules a payment.
- He pays with his Capital One Business card.
- He selects a virtual card as the delivery method.
- When his payment is scheduled, a virtual card is automatically issued and sent via email by Capital One.
- Sarah can then see the payment details emailed to her, accept the payment and then view the card details. She then enters the details into her POS terminal to process the card and get paid.
IMPORTANT: To process the virtual card the vendor must have a POS terminal.
Here’s what the full card details look like, once you slide to view the card number: