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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

Find out how HSBC transforms payments for AsiaPac with a truly virtual solution (PDF, 338KB)

Features and benefits

Powerful Authorization Control

HSBC MiVision – Card Management and Control

HSBC MiVision will make it easier for your card administrators and cardholders to place 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.

New card applications / onboarding – individual or bulk request
View of card administrator and cardholder status
Statement and card transaction viewing
Amend card limits
New card activation
Temporary card block
Card cancellation
Report lost / stolen cards
Request replacement cards
Download and export transaction details to spreadsheet or CSV files
Generate standard or custom reports for card program management and spend analysis
Use of widgets for dashboard view

eCommerce purchase protection of up to USD500 per occurrence and annually

Protect your online purchase when the item does not arrive, arrived damaged or does not match the seller’s description, and seller failed to refund. Coverage up to USD500 per occurrence and annually.

The eCommerce purchase protection insurance is underwritten by AIG Asia Pacific Insurance Pte Ltd, to which Mastercard is the Policyholder. Details and claims are subject to the applicable terms and conditions.

Free corporate liability coverage up to USD1.5 million per company per year

Free Corporate Liability Waiver Insurance to protect your company against eligible losses that might be incurred through card misuse by an employee

The Corporate Liability Waiver Programme protection insurance is underwritten by AIG Insurance Hong Kong Limited, to which HSBC is the assured. 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.

Mastercard Easy Savings Specials

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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.

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