Zip launches virtual cards to streamline vendor payments
By Delisha Fernandes
Zip, an intake-to-procure platform, launched Zip Vendor Cards, an advanced corporate card solution that enables immediate vendor payments while strengthening control and visibility into spend.
Zip Vendor Cards is purpose-built for easy adoption by employees, so businesses can effortlessly issue virtual cards for recurring and one-time purchases. Leveraging Zip’s no-code workflow platform, finance and accounts payable (AP) teams can create virtual cards with one click for one-off purchases or automatically generate cards from workflows based on approval conditions such as purchase price, spend category or vendor.
“Efficiency is essential in today’s economy, yet businesses can’t afford to jeopardise accuracy or compliance for speed. That’s why we are making it easy for our customers to streamline their payments processes with our intuitive, highly compliant Vendor Cards solution,” said Rujul Zaparde, co-founder and CEO of Zip. “Zip Vendor Cards, in combination with Intake-to-Procure or Intake-to-Pay, safely accelerates the entire procurement process via flexible intake and approval workflows, so finance teams can spend less time manually processing payments and more time analysing and optimising their spend.”
Zip Vendor Cards delivers speed and convenience for employees while providing finance and procurement teams with a central platform to maintain their card programs. Business users can instantly use virtual cards after creation, and the finance and accounting teams who authorised the card can maintain complete control over spending limits and merchant categories and quickly freeze and unfreeze cards or transfer ownership when cardholders move roles.
Most importantly, Zip’s virtual cards are incredibly easy for employees and finance teams to adopt. Employees follow the same intuitive intake and approval workflows for larger or more complex purchase requests, so they get a no-training-required interface and seamless intake-to-pay experience.
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