The OCBC Virtual Purchasing Card is designed for the procurement of goods and services to support business operations. Meanwhile, regular corporate cards are meant for business-related travel, accommodation and entertainment. While the OCBC Virtual Purchasing Card can serve as a regular corporate card, it has more defined parameters that give you greater control over your procurement expenses.
Virtual Purchasing Card
Empowering you to procure with ease
Have greater control and visibility over your procurement expenses.
The OCBC Virtual Purchasing Card makes it happen in one platform – you can issue multiple virtual cards, manage how they can be used and track transactions made.
BENEFITS
Optimised efficiency
Say goodbye to manual administrative processes with automated billing reconciliation and reimbursement of claims.
Say goodbye to manual administrative processes with automated billing reconciliation and reimbursement of claims.
On-demand flexibility
Instantly issue virtual cards to employees and suppliers for business purchases.
Instantly issue virtual cards to employees and suppliers for business purchases.
Greater control
Virtual cards can be issued with spending parameters (e.g. monthly transaction limit and merchant codes) to suit your business needs.
Virtual cards can be issued with spending parameters (e.g. monthly transaction limit and merchant codes) to suit your business needs.
Heightened security
Set a virtual card’s expiry date – it can last as little as a day! – to avoid unauthorised transactions. You can also lower your risk exposure by setting a monthly transaction limit.
Set a virtual card’s expiry date – it can last as little as a day! – to avoid unauthorised transactions. You can also lower your risk exposure by setting a monthly transaction limit.
Greater visibility
Detailed dashboards help you monitor business expenses and analyse spending patterns.
Detailed dashboards help you monitor business expenses and analyse spending patterns.
HOW IT CAN HELP YOUR BUSINESS
Make ‘Tap to Pay’ transactions
Users can add the OCBC Virtual Purchasing Card to their mobile wallets to make contactless payments. Claims can be easily made via the Visa Commercial Pay app.
Streamline your payment process
Send your supplier a virtual card – no further action is needed from you for the payment to go through!
Track your travel expenses
View your travel expenses, such as flight bookings and hotel reservations, via the Visa Commercial Pay app.
Pay for your procurement expenses
Pay your suppliers easily through the OCBC Virtual Purchasing Card. We can help facilitate this!
Terms and conditions apply.
HOW IT WORKS
Step 1
Apply for a card online
User applies for a Virtual Purchasing Card via web browser or Visa Commercial Pay App.
Step 2
Get instant approval
Virtual Purchasing Card application is routed for approval.
Step 3
Access your card immediately
Once approved, the Virtual Purchasing Card will be available for use instantly.
Step 4
Enable automated reconciliation
Amount is charged to the card and data is captured and automatically reconciled.
READY TO APPLY?
Speak with your corporate Relationship Manager today.
BEFORE YOU APPLY
Terms and conditions
FAQs
Common questions
What is the difference between the OCBC Virtual Purchasing Card and a regular corporate card?
What is a virtual card?
A virtual card has a unique card number that is generated from a master billing account. In the Visa Commercial Pay app, you can set pre-defined parameters, such as a monthly transaction limit and expiry date, and add data fields to gather more details for billing reconciliation.
How many virtual cards can a user request?
Users can request as many virtual cards as they need. A virtual card will be issued once the designated approver authorises the request.
Will I receive a physical card?
Currently, the OCBC Virtual Purchasing Card is purely virtual – you will not receive a physical card.