This article provides common answers to some of the most frequently asked questions about Numarqe Corporate Credit Cards.
What are the benefits of using Numarqe corporate credit cards?
Numarqe cards offer:
Automation & Control
Streamlined expense management with real-time tracking and customisable spending limits.
Enhanced Security
Single-use digital card numbers protect against fraud, PCI DSS compliance, and multi-factor authentication.
Flexibility
Choose between virtual and physical cards, both compatible with Apple Pay and Google Pay digital wallets.
Multicurrency
Issue cards in the currencies you operate in, such as GBP, USD, and EUR, to simplify international payments. You can spend in any currency on those cards in over 210 countries and territories globally.
Scalability
With higher credit limits to support your growth (up to 10x higher than traditional card providers).
What are Virtual Credit Cards?
Virtual cards are digital card numbers generated within our platform. They are ideal for online transactions, subscriptions, and controlling specific budgets.
Virtual credit cards offer greater flexibility, which includes:
Instant Issuance
Create and use virtual cards instantly. There is no need to wait for a physical card to arrive. They take seconds to create and utilise.
Easy Management
Quickly issue, suspend, or cancel virtual cards as needed, all within the Numarqe platform. There are no limits to the cards you can create.
How do Virtual Credit Cards Work?
Virtual credit cards do not have a physical form; you can securely look up card details within our platform, and the credit card stays within our platform. You can use it to spend on anything; you must provide card details, reducing the need for multiple cards in your wallet.
What are Virtual Credit Cards used for?
The ideal use cases for virtual credit cards are:
Temporary Spending and expenses
This could include one-off or ad hoc spend where you want to control a budget, such as parties or events. Give employees virtual cards with pre-set lifetime or monthly limits for specific expenses, such as travel or purchases.
Online Subscriptions
Reduce the risk of compromised recurring payments by using unique virtual card details for subscription spending only or for each particular subscription.
Online Advertising
Set specific budgets for ad campaigns and easily track spending. This will limit runaway spending on platforms like Google or LinkedIn Ads.
What are the benefits of a Virtual Credit Card?
The main benefits of a virtual credit card are:
Enhanced Security as they can be decommissioned as quickly as they are created.
Spending Controls
Prevent runaway spending. Set individual spend limits for each card, over a specific time frame or per transaction, or merchant category, providing better budget control.
Reduced Fraud Risk
Virtual cards are not physically present, making them much harder to steal or clone. Our cards use multi factor authentication (MFA) for added security.
Single-Use Cards:
You can create single-use virtual cards with unique details for specific transactions, limiting exposure to fraud. Assign virtual cards for particular purposes (e.g. marketing, subscriptions) for more explicit expense tracking.
Instant Cancellation
If you suspect a virtual card has been compromised, you can instantly freeze it to investigate or cancel it using the Numarqe platform.
Can I use Numarqe virtual cards with Apple Pay or Google Pay?
Absolutely! You can add Numarqe cards to your digital wallets for convenient and secure mobile payments.
What are the benefits of using digital wallets such as Apple Pay or Google Pay to store my Numarqe Credit Cards?
The main benefits of digital wallets are:
Enhanced Security
Digital wallets replace your actual card numbers with unique tokens (temporary codes), minimising the risk of your card information being exposed during transactions. Many digital wallets require fingerprint or facial recognition for payment authorisation, adding extra protection against unauthorised use. Digital wallets often include sophisticated fraud monitoring systems, alerting you of suspicious activity.
Convenience & Speed
Pay quickly and easily by tapping your phone or smartwatch at stores with contactless payment terminals. Autofill your payment details with your digital wallet information for speedier online purchases. Leave your bulky wallet at home and lighten your pockets.
Organisation & Accessibility
All your credit cards, loyalty cards, boarding passes, event tickets, and more are in one place. Your digital wallet is always on your phone, ready to use whenever needed.
Do you offer physical credit cards as well?
Yes, we offer physical cards for in-person transactions and as a backup option for situations where digital payments aren't accepted.
Physical Cards are created from your Virtual Cards, so they have the same card numbers (PAN).
What are the benefits of physical credit cards?
Physical Cards are still needed in various situations, such as:
Lack of NFC Technology
Not every merchant has contactless payment terminals (NFC). Physical cards remain essential in these situations.
Technology Issues
If your phone battery dies or your digital wallet experiences an unexpected glitch, having a physical card as a backup is crucial.
International Travel
Some countries or smaller merchants might not have widespread adoption of digital payment methods. A physical card can be a lifesaver in these scenarios.