This article is relevant for: All subscribers.
Single-use virtual cards offer several advantages over other payment delivery methods, making them a fast, secure, and convenient option for receiving payments.
Main advantages of single-use virtual cards
1. Faster
Single-use virtual cards can be processed immediately, 24/7—even on holidays or weekends. The exact timing of delivery depends on the payment method used. Learn more about payment delivery timelines here.
Your vendor must have a point-of-sale system in order to process the payment.
Delivery time depends on the type of payment method used. This means you should consider both the processing time of the payment method and the processing time of the delivery method. For example: If your customer pays a bill from their bank account and you've signed up for a single-use virtual card, the payment will take 3 full business days to process the ACH bank transfer, then will be delivered to you as a single-use card immediately.
Learn more about payment delivery timelines here.
2. Easier to reconcile
Single-use cards are sent with full remittance data—amount, payor, and invoice details. All the information appears in the same email as the payment, making reconciliation faster and easier. You can automate reconciliation for greater efficiency.
3. More secure
Single-use cards are more secure than other payment methods because:
- You don't need to share any banking information with your customers. You only fill out your details once when you sign up.
- Each card is for a specific amount, with a 30-day expiration date and can only be processed for that amount. Single-use cards are MasterCards issued by JPMorgan Chase and adhere to strict security regulations and measures.
Comparison of delivery methods
This table shows you all the key differences to consider:
| Single-use virtual card | Check | ACH bank transfer | Instant payment via debit card | |
| Speed | Instantly available* 24/7 | 5-7 business days Plus time spent reconciling | Up to 3 business days Depending on the funding source | Up to 30 minutes* Depending on the enabled issuers |
| Control | Full remittance data: Can be tracked at every step of the payment process | Only see customer name & amount: Cannot track payment during delivery | Only see customer name & amount: Cannot track payment during delivery | Limited remittance data: Settled in a one-off transaction with sender name, address, DOB, and primary account number or reference number |
| Convenience | No change to existing process: You receive the money through your existing merchant acquirer, which offers extra services (reconciliation, sync with accounting platform, customer support, etc.) | Manual processing & reconciliation needed | Manual processing & reconciliation needed | Limit of $10,000 per transaction |
| Security | Highly secure: No need to expose bank account details. For payor: one-time usage card containing the exact invoice amount. PCI compliant | Risk of lost checks & check fraud | Bank details exposed: Your bank details are exposed to the payor | Card details or bank details exposed: Your card or bank details are exposed to the payor |
| Cost | No additional cost: You pay card processing fees (depending on your agreement with the card processor) | Fees may apply. Check our Pricing page for more information | Fees may apply. Check our Pricing page for more information | Fees may apply. Check our Pricing page for more information |
*Delivery time is a result of the type of payment method used. This means that you should consider the processing time of the payment method and the processing time of the delivery method.
That's it! Now you understand the key differences between single-use virtual cards and other delivery methods, helping you choose the best option for receiving payments.