Turning virtual capabilities
What is a virtual payment
and what problem does it solve ?
A virtual payment allows a person or a business to pay for B2B transactions using a digital
settlement method, which drastically reduces fraud risk. In the instance of using virtual
credit cards, it solves the security issue of using one card number for multiple transactions
and offers a virtual, one-time, randomly-generated credit card number for a specific
transaction. This virtual card number is, in fact, associated with your credit account; however,
it cannot be re-used, and you may also set additional usage parameters—such as a
maximum amount charge and a specific expiry date—which further protects your transactions.
What are the benefits of using virtual payments ?
Troovo Payments uses intelligent Robotic Process Automation (RPA) to enable businesses the
use of virtual card, peer-to- peer, direct settlement or block chain-based payment capabilities
while reducing their processing costs and removing manual handling. That means your
transaction will be:
one-time use cards mean no more fraud
No manual handling no mistakes
All transactions are processed in milliseconds, 24/7/365
Puts you in control
Control and set a reconciliation limit for the amount, expiry date and merchant for any kind of transaction
Virtual payments include a full audit trail with real-time data analytics
Include additional info with your payment to make it even more accurate and specific
As a former procurement executive, I saw firsthand how much it cost my organization to use
traditional forms of payment to settle transactions such as accounts payable workflows and
Virtual payments not only drive huge efficiencies in processing time, effort and consistency, but
also provide a highly secure and commercially beneficial outcome for any
organization wishing to improve their bottom line.
Kurt Knackstedt, CEO, Troovo
How does Troovo’s payment processing work?
Our robots can process ANY kind of B2B payment, as it creates a new
“virtual platform” which enables a two-way communication between the payment provider
and the systems that create the transactions.
And start enjoying the benefits of virtual payments tomorrow !