Time is money: How virtual credit cards boost e-commerce efficiency

Slow payments hinder business

Especially in global commerce, payments take time. Seasons and trends change fast, and slow payments can hinder e-commerce businesses’ growth. Purchasing new inventory can take unnecessarily long, simply because payments are slow to process.

Here’s a few typical challenges e-commerce businesses face:

• Wire transfers and international payments take a long time.

• Handling times in the supply chain are long.

Manual processes take too much time

It’s not uncommon that in e-commerce, especially in new businesses or fast-growing start-ups, financial processes are still handled mainly manually. If growth is rapid, processes might not be able to keep up.

Typical challenges include:

• Collecting financial data from different sources and processing it in spreadsheets.

• There’s only one physical credit card, and it’s in the CEO’s wallet.

• Receipts are missing from the end-of-month closing of books.

Solution: Virtual credit cards with digital card management and powerful integrations

A modern corporate credit card solution can save time significantly.

Here’s how:

• Faster payments. Credit card payments are instant, even internationally. If you buy inventory from China, you don’t have to send a wire transfer. Pliant credit cards are accepted globally.

• Virtual credit cards add convenience and flexibility. New virtual cards can be created in seconds and allocated to different expenses, like advertising. As a bonus, Pliant credit cards accrue generous cashback.

• A fully digital solution. Cards and payments are handled 100% digitally. This means real-time reporting and a better overview of transactions.

• Manual processes are no longer needed. Integrations to other software and programs eliminate the need for spreadsheets and tedious manual work.

• Integrations save time and avoid errors. Data is transferred digitally, removing the risk of human error.

• Less hassle and stress. Payments and receipts are recorded and stored digitally. No more end-of-month hunts for missing receipts.

Pliant features both virtual and physical corporate credit cards

While we’ve focused here on virtual credit cards, Pliant’s pricing plans also include physical credit cards. Whether it’s a physical or a virtual card, the card management is digital, and Pliant features powerful integrations to accounting software and other tools e-commerce businesses use.

As one of our clients, Sabrina Kast from the online store BitterLiebe, advises other e-commerce business owners:

Look for ways to make your life easier through automation and integration, so you have time for other things.

💳 To learn more about Pliant, book a demo with us.