Neu-Isenburg, 9 June 2020
A good deal, easier: AirPlus Virtual Cards Procurement offers a safe, clear, fast, and simple way to handle transactions
Payment service provider AirPlus International has added a new product to its range: AirPlus Virtual Cards Procurement. Online and ad-hoc purchases in particular are now much simpler and faster across a broad range of goods and services, from hardware, software licenses, office supplies, books and magazines to online ads and domains. A virtual credit card is generated to pay for each transaction, with worldwide acceptance thanks to the global Mastercard network. All transactions are subsequently settled centrally and combined into a single statement. This is efficient and saves on process-related costs.
“This gives businesses full control of all their expenses with high security standards and streamlined processes,” says Yaël Klein, Marketing Director at AirPlus, outlining the advantages. The billing information can be linked with information such as cost center and order number and then integrated quickly and easily into existing finance and controlling systems. This payment type also features high security standards: Companies can set specific limits for their virtual card numbers, restricting them to a certain purpose or limit, a specific currency and a defined period. Since every number is also used for only one transaction, the risk of abuse or fraud is also extremely low. Statements are issued at specific times, which also helps businesses improve their liquidity management, as they can pay a supplier promptly while still receiving extended payment terms. In the end, AirPlus only charges the costs incurred at the end of the relevant billing period, which helps the business to optimize its cash flow.
Virtual payment already a success for business travel expenses
AirPlus has offered virtual payment with great success in the form of AirPlus Virtual Cards since 2005, but the primary focus was previously on travel expense management. Transaction volumes in this segment have been growing by double-digit rates each year. The volume of payments for hotel accommodations alone was up by 24 percent in 2019. “We kept hearing from customers who also wanted to use the product for other procurement services,” Klein says, explaining the impetus behind the new product. She is proud that AirPlus Virtual Cards Procurement is now available, providing the right solution for many other business procurement payments as well. The added value provided by virtual cards is especially clear when it comes to billing for “indirect” expenses, which often lack a direct connection to the actual product produced. In many cases, it is impossible to capture these expenses via the existing procurement system. Purchases made from online shops, for example, require immediate online payment – which is now possible within purchasing guidelines, thanks to the virtual credit cards.
Following a pilot phase involving selected customers, AirPlus Virtual Cards Procurement is now being rolled out on a large scale. Effective immediately, the product is available in 13 countries, including Germany, France, Italy, the United Kingdom, the United States, and Australia. AirPlus is currently introducing the product to purchasing, finance, and treasury managers through regional webcasts. The response has been very promising, with several hundred signups so far.
About AirPlus International:
AirPlus is a leading international provider of solutions for the daily management of business travel. 48,000 corporate customers rely on AirPlus for the payment and analysis of their business trips. The products and services are marketed worldwide under the AirPlus International brand. The AirPlus Company Account is the most successful billing account within the UATP. More information is available online at www.airplus.com.
Contact AirPlus International:
Phone: +49(0)6102 204-6350