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Virtual Credit Cards
Hi, I have a large potential customer who uses 'Virtual' credit cards for its employees.
Does anyone have experience in setting these up ? Are they treated just like 'normal' credit cards or does it matter if they are virtual or not ? The bank details I've been provided with thus far is HE ? Not sure which bank this is but I have a meeting with the customer shortly to obtain more details but it would be good to know the above before heading into the meeting !
many thanks
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Hi @Snell !
Virtual cards are unique 15 or 16-digit card numbers generated digitally at the point of sale and associated with a specific user. They are used only for a single payment and then discarded. There is no physical card.
A virtual card can also generate a virtual security code – CVV, CVV2 or CVC – the three-digit number printed on the back of a plastic card. A Virtual Card Account (VCA) is, as the name suggests, a virtual account that is created in real-time to accommodate a purchase. Its features are:
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For more information about Virtual Payment see the Travel: Virtual Payment - Conferma Pay TSG
Virtual Card Account creation and life cycle:
- An admin in SAP Concur creates a managing account (M-account, type M) in the Manage Accounts screen. This is necessary so that the correct payment type can be determined. If no managing account exists, the feed import is rejected. A managing account may or may be not assigned to an employee
- An admin creates and schedules a credit card feed import job for Mastercard CDF3, and selects the Includes Virtual Account Transactions flag
- For each new virtual transaction (V-transaction) that arrives, a new entry in table CT_CREDIT_CARD_TRANSACTION and a separate virtual account (V-account, type V) in table CC.CREDIT_CARD_ACCOUNT is created. The link between the V-account and the M-account happens solely via the transaction, which contains the V-account as CCA_KEY and the M-account as BILLED_TO_CCA_KEY
- Once the employee information arrives as update, the V-account is assigned to the employee (fields NAME_ON_CARD and EMP_KEY in CC.CREDIT_CARD_ACCOUNT are filled)
Best wishes,
Andras
SAP Concur
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Hi @Snell !
Virtual cards are unique 15 or 16-digit card numbers generated digitally at the point of sale and associated with a specific user. They are used only for a single payment and then discarded. There is no physical card.
A virtual card can also generate a virtual security code – CVV, CVV2 or CVC – the three-digit number printed on the back of a plastic card. A Virtual Card Account (VCA) is, as the name suggests, a virtual account that is created in real-time to accommodate a purchase. Its features are:
|
For more information about Virtual Payment see the Travel: Virtual Payment - Conferma Pay TSG
Virtual Card Account creation and life cycle:
- An admin in SAP Concur creates a managing account (M-account, type M) in the Manage Accounts screen. This is necessary so that the correct payment type can be determined. If no managing account exists, the feed import is rejected. A managing account may or may be not assigned to an employee
- An admin creates and schedules a credit card feed import job for Mastercard CDF3, and selects the Includes Virtual Account Transactions flag
- For each new virtual transaction (V-transaction) that arrives, a new entry in table CT_CREDIT_CARD_TRANSACTION and a separate virtual account (V-account, type V) in table CC.CREDIT_CARD_ACCOUNT is created. The link between the V-account and the M-account happens solely via the transaction, which contains the V-account as CCA_KEY and the M-account as BILLED_TO_CCA_KEY
- Once the employee information arrives as update, the V-account is assigned to the employee (fields NAME_ON_CARD and EMP_KEY in CC.CREDIT_CARD_ACCOUNT are filled)
Best wishes,
Andras
SAP Concur
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@Andras - Fantastic quick response and so much information. Thank you so much !
So I guess that Card providers (who we setup the feed for) have to be in the Concur Compatible Card list ?, and the usual requirements are needed to set up a feed, but we just need to ensure they are aware to include an Employee ID in the transactions they send within the feed?
So bottom line is, I just need to find out which bank is providing this service and then find out if we can use their feed with Concur? The rest is just a case of Concur setting it up correctly and the feeds being managed by the Company Admin when they arrive.
Thanks again.