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Virtual Card

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As more daily operations go online, virtual payments have become not just a trend, but a channel to reduce the hassle of manual processes. Introducing HSBC Virtual Card, an innovative business-to-business (B2B) payment solution to help you facilitate payments without a physical card.

Use virtual card if your business …

makes frequent business-to-business (B2B) transactions to the same groups of merchants
needs control over company card information
would like to reduce the risk of card misuse by employees
faces challenges when mapping out expenses in relation to various projects or purchase
would like to implement stringent requirements on card usage

About the virtual card

Truly virtual: no plastic cards issued
Widely accepted: just look for the Mastercard logo
Flexible: can be configured for single or specified number of uses
Reduced risk: Enhanced authorisation controls to reduce potential fraud

Benefits of virtual card

Make transactions without a hitch
Make frequent transactions smoothly by generating a unique virtual card number for
every single payment

Safeguard card account information
A unique virtual card number will be used for each payment. No need to share underlying
card account information when making payments

Gate-keep your transactions
Implement internal approval processes for improved monitoring and better visibility on
your company’s spending

Streamline book-keeping processes
Assign a unique virtual card number for each project or item to enjoy automatic
reconciliation and easier reporting

Gain better control with enhanced authorisation
Set expiry date, number of uses, validity range, currency, merchant categories or other
limits for each Virtual Card number to gain better control over your transactions

HSBC’s Virtual Card solution makes it easier for us to pay our digital platform vendors, and enables our customers to make faster payments using cards. The interest-free credit period also provides greater flexibility for us to manage our working capital.
Christine Chong | Chief Operating Officer, AsiaPac Net Media

Features and benefits

Powerful Authorization Control

MiVision – Card Application & Maintenance

HSBC MiVision will make it easier for your card administrators and cardholders to perform card maintenance requests and apply for new cards through an online platform, so that you can manage your corporate cards with greater peace of mind. It can also significantly reduce manual form filling when you need to perform any action.

Programme management:

New card applications / onboarding – individual or bulk request
View of card administrator and cardholder status
Amend card limits
Report lost / stolen cards
Request replacement cards
Statement viewing
Create custom reports

Transaction management:

View statement and download transaction details
Transactional data available for spending analysis

Smartdata – Card Transaction at a Glance

Smartdata is a proprietary platform provided by Mastercard®. It allows programme administrators and cardholders to review company and personal transactions any time. There are three functionalities.

Programme management:

Create and manage user profiles
Manage spending limits and merchant category code controls

Transaction management:

View card transactions and statements
Cost allocate transactions before export (optional)
Monitor compliance with policies
Upload receipts (optional)

Reporting:

3 years of transactional data available for card account analysis on supplier side
Create bespoke reports using more than 250 pieces of data
Export card transaction reports in Excel or CSV files

More…

Reminder: "To borrow or not to borrow? Borrow only if you can repay!"

With effect from 1 July 2020, the Corporate Liability Waiver Programme protection insurance is underwritten by AIG Insurance Hong Kong Limited, to which HSBC is the assured. Please note that there are some changes on the coverage limits. To obtain the details and the Terms and Conditions of the Corporate Liability Waiver Programme, please contact AIG Insurance Hong Kong Limited. Claims are subject to the applicable terms and conditions.
Subject to the detailed terms of the Cardholder Agreement.

HSBC has not authorised or appointed any intermediaries to conduct telesales marketing activities for promotion of commercial lending/ commercial cards.