The Paypers

With this new virtual Visa card capability, City National commercial card clients can send virtual credit cards to employees, contractors and vendors with digital capabilities, distinct spending limits and expiration dates.

Once the cards are issued and enabled in the digital wallet, employees, contractors, and vendors can use the cards for online purchases or use Apple Pay and Google Pay mobile wallets to make contactless payments at point of sale with a mobile phone, without having to wait for a physical card.

Additionally, the virtual card offers solutions such as automatic reconciliation, receipt and invoice attachments and expense integrations. Businesses can distribute virtual Visa cards without exposing card numbers and have the ability to cancel cards at any time. Visa Token Service, Visa’s tokenization technology, replaces a cardholder’s 16-digit Visa account number with a secure token that protects the underlying card number from fraudsters.

City National, Extend launch Visa-based commercial credit card