Streamline spending with virtual prepaid cards

Businesses are swapping corporate plastic in favour of virtual prepaid cards. Here’s how they work and why prepaid is a better option than credit.

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Company expense management has had a facelift – and there’s not a speck of plastic in sight. Clever businesses are now swapping corporate credit cards in favour of virtual prepaid cards for convenience, efficiency, and security. These cards could save your business plenty in the long run – so let’s take a look at how virtual prepaid cards work.

Virtual, prepaid, credit, debit: what’s the difference?

Virtual prepaid cards work slightly differently to virtual bank cards or virtual credit cards. Instead of giving employees access to the company account or letting them run up debts, you top up each prepaid card with an allocated budget.

Why prepaid is better than credit or debit

There’s no risk of overspending, so it’s safe to provide a prepaid card to any employee. Plus, you get complete control over how the account is used. You can limit it to specific sites, or even restrict spending to set dates. And if you need to increase the budget, you can add more funds in seconds.

Digital cards can also handle international payments, from booking hotels abroad to paying global suppliers. So you can even use them as low-fee FX business cards.

Why virtual cards are better for business

1. Safety and security

Virtual cards can be used for all the online purchases you’d normally make with a conventional credit card, but it can’t be traced back to the original account by hackers. Your exposure is also limited in case of fraud, as the only funds at risk are whatever you’ve preloaded onto the card.

2. Added flexibility

Because virtual cards are managed entirely online, you can generate and activate new cards instantly. Finance managers will love using a suite of online cards that fits the way the business spends – for example, one card just for travel expenses or one just for Amazon purchases (this adds another layer of security as well).

Your account can be up and running in less than one working day, with no credit checks or lengthy processes for every card or user, and then you’re free to generate virtual cards at will – you’re the boss.

3. Increased control overspend

Virtual payment cards give you an increased level of control and visibility over your team’s expenses. A spend management platform like Soldo gives you a granular level of control over setting budgets and seeing where money is spent for each individual, department, project, team, or spending type.

You can set daily, weekly, or monthly budgets, limit how or where money is spent, and see every transaction as it happens in an easily exportable format.

Why choose Soldo virtual prepaid cards?

Quicker integrations

Soldo integrates directly with Xero, QuickBooks and NetSuite, and you can export all the spending data from your virtual prepaid cards into any other accounting system. Seeing who spent what is easy, with transactions allocated to each account instead of all mixed up on a single statement.

The flexibility you need

With Soldo, you set the rules on how virtual prepaid cards are used. Give everyone their own card with their own spending rules, or create a card that automatically locks after one transaction for a one-off payment, increasing security by limiting access to the card’s funds.

A complete solution

Our virtual prepaid cards are part of something much bigger – in fact, a whole new approach to business spending. It includes traditional plastic prepaid cards alongside virtual cards, connected to a smart spend management platform with powerful apps and reporting software. You and your team can track and manage company spending from anywhere, at any time.

And if you need a hand getting set up, our friendly team of experts will be there to help.


How to use a virtual card

Virtual cards work just like regular credit or debit cards – there’s just no card. You’ll still have a card number, an expiry date and a CCV number, but they’ll be on a screen instead of on a physical card.

Where can I use a virtual Mastercard card?

You can use a virtual Mastercard wherever you would be able to use a regular card – online purchases, software subscriptions and online advertising are all possible with a virtual Mastercard.

Can I get statements on virtual payment cards?

With Soldo, you can access your spending data however you like. Soldo integrates directly with Xero, QuickBooks and NetSuite, and you can export all the spending data from your virtual prepaid cards into any other accounting system.

Is Soldo a business bank account?

No. Soldo provides additional spend management features that work alongside your business bank account, instead of replacing it. You can use your Soldo cards to separate staff spending from your main company funds, as well as accessing powerful new features that aren’t available with any banking provider.

Start streamlining your spending today

Soldo is trusted by businesses of all sizes – from startups to SMEs to enterprises. You can get going with Soldo in as little as one working day – applying takes minutes with no credit check.

Manage spending on prepaid cards

Empower employees to spend responsibly; define budgets and track spending in real time, from anywhere.


Automate your expense admin

Stream transactions, receipts, and other data right into your accounting software through smart integrations.

automatiza gestion de gastos

Effortless bookkeeping

Track in real time on desktop and mobile; flow data into accounting systems automatically.

All Soldo plans include

Soldo Mastercard® cards

Get as many cards as you need for employees and departments. Our contactless cards are accepted by millions of merchants worldwide.

Web-Konsole und mobile App

Web console and mobile app

See spending in real time on the web console. View balances, capture receipts and manage cards on the employee app.

Accounting integration

Export transaction data to every major accounting software, in two clicks. Connect expenses to Xero and QuickBooks.

Kostenlose und unbegrenzte Transaktionen

Free & unlimited transactions

Soldo Mastercard® cards have no fees for domestic transactions and our foreign exchange fee is fixed at just 1%.

No charge for deposits

It’s free to add funds, and money is available to spend instantly. Allocate funds to cards when your team needs it.

Individuelle Unterstützung

Dedicated support

Need a hand? Our friendly customer success team is at your service, providing support whenever you need it.

“Since we started using Soldo, it’s been such a relief not to have to regularly email or phone the banks to ask for our credit card limits to be raised. I love Soldo’s flexibility – it’s so easy to maintain and everything is in real-time.”

Dennis Koehler
Head of Payments and Fraud at GetYourGuide

“When we switched to Soldo, it became obvious that it was quicker and more efficient. There’s a greater feeling of security; we have more confidence in Soldo than the traditional corporate credit cards.”

Mark Taylor
Director of Finance at Plymouth College of Art

Read more about Prepaid Cards