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As finance leaders look for new ways to reduce costs and improve cash flow, many are taking a closer look at how supplier payments are managed. That means looking beyond invoice processing and asking a bigger question: Are our payment methods creating as much value as possible?

Virtual card payments are often part of this discussion, but before finance teams can determine where they fit within their payment strategy, they have to move past some common misconceptions. Questions about implementation, supplier adoption, security, reconciliation, and financial value can make it difficult to evaluate virtual cards based on what they offer today versus what teams may have heard in the past.

As organizations evaluate their payment mix, the goal isn’t to identify a single best payment method. It’s to understand how different payment options can support broader objectives like reducing costs, improving cash flow, strengthening controls, and creating more value from supplier payments. The challenge is determining where each payment method fits, including virtual cards, which starts with separating assumptions from realities.

This blog takes a closer look at eight common misconceptions of virtual card payments that may be holding finance teams back.

Key takeaways

• Outdated assumptions can make it harder to evaluate virtual cards objectively. Challenging those assumptions can help finance teams make more informed payment decisions.聽
• Virtual cards offer more than rebate opportunities. They should be evaluated alongside other factors like payment costs, security, reconciliation, and cash flow.
• Payment methods deserve the same level of evaluation as the rest of the AP process. Looking beyond misconceptions can help finance teams identify opportunities to reduce payment costs and create more value from supplier payments.

Looking beyond common virtual card payment misconceptions聽

Virtual card adoption continues to grow. A recent study from found that the value of virtual card payments will grow by 235% by 2029, increasing from $5.2 trillion in 2025. Yet some finance teams are still evaluating virtual cards based on assumptions that haven鈥檛 kept pace with the evolution of B2B payments.聽

Every payment decision has financial implications. The payment method chosen can influence processing costs, payment visibility, reconciliation, security, and even cash flow. When virtual cards are ruled out based on outdated assumptions, opportunities to improve how supplier payments are executed may be overlooked.

The following misconceptions are intended to help finance teams evaluate virtual cards more objectively and determine where they may create value alongside other payment methods.

1. Misconception: Implementing virtual cards requires a major AP transformation

Reality: Virtual cards can fit into an existing payment strategy without requiring a major AP transformation.

Adding a new聽 payment method may feel like another major technology project, especially for finance teams that have already been through complex AP modernization initiatives.. But virtual cards don’t necessarily require organizations to rethink their entire AP process.

Many finance teams already use multiple payment methods like checks, ACH, wires, or commercial cards. Virtual cards can simply become another option within that existing payment strategy, allowing organizations to evaluate where they make sense based on supplier preferences, payment requirements, and business goals. Evaluating a new payment method doesn鈥檛 mean replacing everything that鈥檚 already working. It means understanding whether another payment option could create value for the business.

2. Misconception: Suppliers don鈥檛 prefer virtual card payments

Reality: Many suppliers already accept virtual cards, and targeted enrollment can help increase adoption.

Supplier acceptance is an important consideration when evaluating a new payment method.But preferences vary, and virtual cards may already be an option for more suppliers than finance teams realize.聽

Some suppliers may already accept commercial card payments while others may prefer ACH or another payment method based on their own processes, payment terms, or cash flow needs. Rather than assuming every supplier should be paid the same way, finance teams should evaluate which payment method makes the most sense for different supplier relationships. The goal isn鈥檛 to shift every payment to a virtual card. It鈥檚 to make payment decisions that support both the business and its suppliers.聽

Some organizations work with payment providers that help identify suppliers already positioned to accept card payments and support supplier enrollment efforts. As a result, virtual card adoption may be more achievable than finance teams initially think.聽

Did you know? 91福利 engages with approved suppliers through coordinated outreach to support virtual card adoption, based on each customer鈥檚 approval and direction as a coordinated partnership approach.

3. Misconception: Virtual cards reduce payment visibility and control

Reality: Virtual cards can support greater visibility and control when integrated into a connected payment workflow.

Adding another payment method can seem like it would make supplier payments more difficult to manage. But visibility is shaped by the payment workflow itself, not by the number of payment methods being used.

When payment approvals, remittance information, and payment status are disconnected, finance teams can lose visibility regardless of whether they鈥檙e paying their suppliers by check, ACH, or virtual card. That鈥檚 why it鈥檚 important to look beyond the payment method and consider how payments are managed and tracked from approval through execution.

When payment information remains connected throughout the process, finance teams have a clearer picture of payment activity and greater confidence in where payments stand. Virtual cards don鈥檛 have to reduce visibility or control.

4. Misconception: Virtual cards make payment reconciliation more difficult

Reality: Virtual cards can help streamline reconciliation when payment, remittance, and invoice data stay connected.

Reconciling supplier payments becomes more challenging as payment volumes grow and organizations support multiple payment methods. But reconciliation challenges are often driven by disconnected payment information, not by the payment method itself.聽

When payment details, remittance information, and invoice data remain connected throughout the payment process, finance teams can more easily match payments, investigate exceptions, and understand payment status. The goal isn鈥檛 to reduce payment options, it鈥檚 to reduce the manual work required to reconcile them.

5. Misconception: Virtual cards are only valuable because of rebates

Reality: Virtual cards can deliver value beyond rebates, including greater efficiency, stronger controls, and working capital benefits.

When finance teams evaluate payment methods, it鈥檚 natural to look at the financial return they may generate. For virtual cards, that often starts with rebates. But rebates only represent a part of the business case and focusing on them alone can result in overlooking the bigger picture.

The value of a payment method isn’t determined by a single benefit. It’s also shaped by the cost of executing payments, the time required to manage them, the effort involved in reconciling them, the effect on working capital, supplier experience, and the controls that help protect the organization throughout the payment process.

6. Misconception: Virtual cards don鈥檛 meaningfully reduce payment costs

Reality: Virtual cards can help reduce payment costs and improve operational efficiency.

When evaluating payment methods, it’s easy to focus on whether suppliers are paid accurately and on time. But how those payments are made can also impact the cost and effort needed to execute them.聽

Every supplier payment carries costs. Some are direct, like transaction and processing costs, while others are tied to manual work required to initiate payments, manage exceptions, and reconcile payment activity. . As payment volume grows, these costs can add up.聽

For the right suppliers and payment scenarios, virtual cards can help organizations reduce manual payment processes and聽 improve payment efficiency while also creating opportunities to earn rebatesRather than just looking at the cost of an individual transaction, finance teams should consider the broader cost and financial value of each payment method.

7. Misconception: Virtual cards are no more secure than ACH

Reality: Virtual cards can strengthen payment security by limiting the exposure of reusable payment credentials.聽

Security is a critical consideration when evaluating any payment method, but virtual cards and ACH manage payment credentials differently.聽

ACH payments rely on bank account and routing information, while many virtual card programs use single-use, tokenized card numbers instead. Virtual cards can help reduce payment fraud and limit the exposure of sensitive payment details by eliminating the need to share reusable bank account information.

That doesn鈥檛 make one payment method better than the other. It reinforces the importance of evaluating payment methods based on the needs of the business, supplier, and the payment itself.

Did you know? According to research from , 94% of companies say virtual cards are faster, more efficient, and more secure.

8. Misconception: Virtual cards have little impact on cash flow performance

Reality: Virtual cards can support stronger cash flow and working capital management by allowing businesses to retain cash longer while paying suppliers on time.

Cash flow isn’t just influenced by how quickly cash comes in. It’s also affected by when and how supplier payments are made.

Different payment methods can influence working capital, payment timing, and the overall cost of executing supplier payments. Depending on the program, virtual cards can help businesses hold onto cash longer, giving them more flexibility to manage working capital without delaying supplier payments.聽

While virtual cards won’t solve every cash flow challenge, they can help support broader cash flow objectives. Understanding where they fit within an organization’s overall payment strategy can help finance teams make more informed payment decisions.

A more strategic approach to evaluating virtual cards

Rather than focusing on a single assumption, finance teams should evaluate virtual cards the same way they would any payment method: by assessing how well they align with supplier needs, operational requirements, financial goals, and overall payment strategy.

When evaluating whether virtual cards are the right fit, ask questions like:

• Which suppliers are willing and able to accept virtual card payments?
• How do our current payment methods impact processing costs and administrative effort?
• What level of payment visibility and control do we need?
• How much time does payment reconciliation require today?
• Are there opportunities to improve cash flow or working capital management?
• Which payment methods best support our security and fraud prevention objectives?
• Where are we still relying on manual payment processes that could be streamlined?
• How should virtual cards complement, rather than replace, our existing payment methods?

Every organization has a different supplier base, payment mix, and set of business priorities. Evaluating virtual cards through the lens of cost, security, efficiency, visibility, and cash flow can help teams make more informed decisions about where they fit within a broader payment strategy.

Where virtual cards fit in a modern payment strategy

Virtual cards don鈥檛 have to replace ACH, checks, or other payment methods to create value. Like any payment method, they work best when they鈥檙e used in the right situations.聽

For finance teams interested in evaluating their payment mix more strategically, payment optimization assessments can help uncover where costs, risk, manual effort, and missed revenue opportunities exist across supplier payments. Those insights can help determine where virtual cards, ACH, and other payment methods are likely to deliver the greatest impact.

Whether you鈥檙e exploring virtual cards for the first time or looking to get more value from your existing payment strategy, 91福利鈥檚 Payment Optimization Services provide finance teams with a clear, evidence-based view of their current payment mix, where effort, cost, and risk hide, and where shifting to secure digital methods like virtual cards can deliver faster payments, stronger controls, and measurable financial impact.聽

Ready to optimize your payment strategy? Contact 91福利 to see where virtual cards can add value to your organization.

FAQs about virtual cards

What is a virtual card payment?

A virtual card payment is a digital payment made using a unique card number instead of a physical card. Virtual cards can be used to pay approved suppliers while reducing the need to share reusable bank account information.

What types of supplier payments are best suited for virtual cards?

Virtual cards may be a good fit for suppliers that already accept commercial card payments and for payment scenarios where organizations want greater security, control, and efficiency. The right fit depends on factors such as supplier acceptance, payment requirements, costs, and the broader payment strategy.

How should finance teams evaluate whether virtual cards are the right fit?

Finance teams should evaluate virtual cards within the context of their broader payment strategy, considering factors such as supplier preferences, payment costs, security, reconciliation, cash flow, and overall payment mix performance.

Some teams already know where virtual cards fit, while others want a clearer, data-driven view of their payment mix before expanding usage. 91福利鈥檚 Payment Optimization Services can help teams identify which vendors and payments are a strong fit, understand operational and security tradeoffs, and model potential rebate and cost-to-pay impact.聽

Do virtual cards need to replace existing payment methods to create value?

No, virtual cards are another payment option, not a replacement for every supplier payment. Many organizations have a mix of payment methods and determine which one makes sense based on the supplier, the payment, and the organization鈥檚 priorities.聽

What鈥檚 one of the biggest mistakes finance teams make when evaluating virtual cards?

One of the biggest mistakes is evaluating virtual cards based on a single factor, whether that鈥檚 rebates, supplier preferences, security, or implementation. Looking at only one benefit or concern can make it harder to see where virtual cards fit within a broader payment optimization strategy.聽

A more effective approach is to evaluate virtual cards the same way you would with any payment method and consider how they affect payment costs, operational efficiency, payment controls, cash flow, and the overall supplier payment process.