The pandemic has forced business owners worldwide to be more resilient amidst uncontrollable challenges. Running a business has become harder but what most people tend to overlook is that over-the-counter transactions are much harder as well.
The good news is that there are a lot of ways you can initiate transactions with your customers. Debit cards used to be a good option pre-pandemic. However, considering that the Covid-19 virus can survive on various surfaces, passing cards back and forth is potentially risky.
The good news is that virtual cards are a thing and they can be a great alternative to this tried and tested form of letting completing transactions for your business.
What Is A Virtual Debit Card?
The name itself reveals a lot about what this card does. It’s basically a debit card that you can access online through various platforms. You can research and see more about what these cards are. The bottom line, they are possibly one of the most convenient transaction options for any business currently.
Why Is It Convenient For Your Business?
For starters, virtual debit cards are easily accessible and easy to apply for just about anyone. This means that people can set it up and have it used for business transactions in a short manner of time. Better, your customers can use these cards to make transactions online or they can easily bring their phones to your store and make transactions with the card.
This prevents direct contact between your and your customers – thus giving you both a safer means to complete the transaction.
Simply put, virtual debit cards are a new means for consumers to begin their online spending habits. With rewards programs and special benefits in tow, this is one of the growing means to shop for your favorite goods online.
What’s even better about virtual debit cards is that they can be set up and replaced in just a few hours. On the other hand, you’ll have to wait several business days before having your card replaced by your issuing bank. We’re not even accounting for the hassle of the paperwork and documentation behind the process.
Last but not the least, virtual debit cards are very easy to use too. There’s no activation or whatever needed as the card will be available for use the moment you get it. As a business owner, this means your customers are going to be able to transact with you as fast as they can.
Some virtual debit cards also have a feature that lets users set a spending limit on their cards. This will make it easier for them to control their buying habits which is very crucial now at times where we can always benefit from responsible spending.
Even if the business is weaker than usual, that doesn’t mean it should stop. The rise of online shopping has given all business owners the opportunity to continue making revenue amidst the current challenges. On your end as a business owner, virtual debit cards are a blessing.