Virtual Credit Cards

[Snell]

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

[Andras · Accepted solution]

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:

• No plastic is issued
• Typically they are single-use card accounts (that is, for a single purchase) though they can be set up to be used for multiple transactions in a defined time period or for a maximum amount
• The individual does not have the account number; the account is created “on the fly” at the time the charge is incurred
• Virtual accounts are associated with a mother account that is used as billing account
• Virtual accounts and associated transactions can be auto assigned to users if the employee ID information is included with the transaction

For more information about Virtual Payment see the Travel: Virtual Payment - Conferma Pay TSG

Virtual Card Account creation and life cycle:

1. 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
2. An admin creates and schedules a credit card feed import job for Mastercard CDF3, and selects the Includes Virtual Account Transactions flag
3. 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
4. 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)

[Snell]

@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.