Virtual credit cards are a flexible electronic payment method using 16-digit credit card numbers typically created for purchases at set amounts.  Most commonly sent via email, they offer convenience, security, and speed in the B2B payments space. Virtual cards can improve accounts payable (AP) processes, benefitting both buyers and suppliers by streamlining day-to-day payments, and providing greater control over cash flows. They also offer more safeguards against fraud than traditional business credit cards.

Boost processes virtual cards in an automated way, eliminating manual processing steps. 

Yes, we offer a streamlined, simple user experience for buyers not currently on a virtual card program. Through Boost Vault, we offer a secure way of storing your static commercial card data so that it can be easily used for subsequent purchases simply by registering your card one time to pay suppliers across the Boost network. Plus, all Vault payments are processed through our patented straight-through-processing platform, optimizing the experience for your suppliers and their willingness to accept your card payment.

Boost is integrated with all major commercial card issuing platforms, allowing you to easily get started with no additional tech development. We are happy to help connect you with the right people at your Issuer.

Yes. Boost suppliers are never exposed to your 16-digit card numbers. All live card data is encrypted and tokenized and the supplier (and Boost) are never exposed to it. Only the last four digits of the card numbers are shared with the supplier for tracking purposes. Consequently, as card data is not shared with the supplier, the supplier is not beholden to PCI compliance requirements for the payments that Boost processes.

There is no cost for our supplier enablement services or accessing the Boost 100 platform. There are costs associated with each transaction, including interchange, network and assessment fees and acquirer fees. Traditionally, the cost of commercial card transactions is covered by the Supplier, but many of our savvy buyers are willing to cover the cost in exchange for increased working capital and rebates. Boost allows you to optimize transaction costs by providing access to a wide selection of flexible payment processing options that meet the unique needs of both you and your supplier. This ensures that you can take advantage of all opportunities for maximizing your card spend, including the choice of who covers the transaction fees. We also have access to proprietary interchange rates to help lower the overall cost of acceptance.

Transactions through Boost will not be delayed, regardless of transaction size. Boost processes multi-million dollar card payments almost every day. Boost processes the commercial card payments for Fortune 100 companies and thousands of smaller companies, too.

From the time when you send the commercial card for payment, the funds will typically be in your supplier’s bank account within 24 – 72 business hours depending upon the bank-to-bank relationships between Boost’s funding bank and their bank.