What Are Ghost Cards?

Managing business expenses for a large corporation can be tough if you do not have the proper controls in place. Ghost cards are brilliant for eliminating reimbursement paperwork. They also give you an opportunity to get an overview of financial trends.

Are you struggling to categorize business expenses? Do you have too many departments to monitor? Ghost cards may be right for your company, and we will explain exactly why.

What Is a Ghost Card?

An alternative solution to a regular business credit card or debit card, ghost cards allow companies to assign a specific virtual card and specific individual number to a department or supplier. The department or supplier can use the ghost card to make a charge or purchase.

If you need it, there is an established predetermined limitation, and they charge it back to the account or department.

Who Are Ghost Cards Best Suited For?

They are an ideal solution for large businesses that have frequent spending from many departments. Also, they can help any size organization with a high volume of suppliers.

Ghost cards work well with a new vendor that you have not had time to establish a relationship with. They ensure that charging a payment to them is secure. Likewise, if you do frequent business with repeat vendors, ghost cards are a perfect solution.

How Are They Different from Corporate Cards?

Ghost cards are not like traditional business credit cards or debit cards in that they do not tie to a particular plastic card. Although, sometimes, a physical card is available.

The term “ghost” refers to the process type you use when managing them. It also refers to how the department will access it.

Ghost cards allow you to set categories and limitations for spending and tracking expenses for the departments. You no longer need to shuffle invoices and paperwork to understand the business expenses. They eliminate having to get multiple cards which can get lost or be challenging to record.

A ghost card can serve as a variation of a procurement card (p-card). Purchase cards are almost always exclusive for purchases and expenses that are business-to-business.

Looking for a better way to track business expenses? If so, you can contact Bento for Business and try their virtual visa cards today.

How Does a Ghost Card Work?

You can leverage ghost card software to generate a random card number. The number you generate links back to a specific account that is tied back to a particular department. The person who oversees the account will assign a ghost card account for every department that needs it.

It is up to the department to disperse the ghost card number for purchases. If a vendor or retailer accepts business credit cards or debit cards, they will also accept a payment from a ghost card. It sends every charge that a department makes to the person who oversees the account for the organization.

The person overseeing the entire account has the power to set restrictions per account. These include restrictions like:

  • Suppliers
  • Vendors
  • Maximum spending amounts
  • Expiration date

Whether the employee is making a payment via phone or online, they can use a ghost card the same as they use a traditional card. You can close an individual ghost card, and it will not interfere with the other cards.

Save Time and Reduce Errors

Ghost cards typically allow you to track expenses and automate account monitoring, which will allow you to save time and reduce potential errors.

We hope you found this valuable, learning more about ghost cards to resolve business expense challenges in your organization. We love making your life easier. Visit us again soon for all things trending in business and technology.


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