7 Ways to Maximize Virtual Card Value

A good virtual card program provides your organization with tools, resources, support, and flexibility that help your organization reduce payment costs, increase efficiencies, and even generate rebate revenue from virtual card spend.

Not only does this decrease your overhead and staff time, automated reporting provides comprehensive tracking and monitoring of your payments. Here's how to maximize the value of your virtual card program.


Seven ways to maximize the value of your virtual card program.

Consider the following strategies to grow, optimize and protect the value of your virtual card program.

  1. 1.Gain new spend: Conduct an annual AP file analysis to identify new and existing card-accepting suppliers.
  2. 2.Maximize supplier enablement campaign ROI: Schedule a utilization analysis every 3-6 months to identify enrolled suppliers not enabled in your ERP.
  3. 3.Gain insight into peer industry payment strategies: Benchmark program performance against industry peers to identify cross-industry card acceptors.
  4. 4.Add new spend: Schedule an annual slippage analysis to identify card-accepting suppliers being paid via other methods.
  5. 5.Increase enrolled supplier spend and gain new spend: Develop a payment terms strategy that incentivizes suppliers to accept virtual card vs other payment methods.
  6. 6.Prevent supplier attrition: Evaluate supplier retention techniques to ensure that enrolled suppliers remain active.
  7. 7.Enroll new suppliers as they onboard and prevent enrolled supplier attrition: Educate internal stakeholders to ensure that suppliers receive a consistent virtual card message from all departments.

Additional benefits of an enhanced Virtual Card program:

  • ACH rebates as well as virtual card rebates
  • Full end-to-end invoice-to-pay accounts payable automation
  • Workflow/approval routing for supplier payments
  • Electronic invoice storage
  • Check printing services

You can also rely on the expertise of a dedicated supplier enrollment/enablement team to enroll suppliers and help you maximize the value of your program with ongoing vendor enrollment throughout the life of your program.

Enhance your virtual card program.

To maximize the value of your virtual card program further, look at enhancing it with a product like U.S. Bank Instant Card. Instant Card is a simple mobile app for provisioning and distributing a virtual card for immediate use on a mobile device.


Instant Card is ideal for your infrequent travelers covering incidentals, home workers purchasing office supplies, new hires in need of an interim card, contractors fielding expenses, and one-time or infrequent individual payments. It integrates directly with TravelBank's expense management platform for comprehensive spend management and better visibility.


Save Time & Money


Learn more about how you can save time and money with TravelBank and U.S. Bank's integrated expense, travel, and virtual card management solution for healthcare organizations.


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