Virtual card vs physical cards: Which comes out on top?

Virtual cards are digital payment cards linked to bank accounts that can be issued instantly and used primarily for online purchases or contactless payments through digital wallets, while physical cards remain valuable for in-person transactions, cash access, travel, and merchants that do not accept mobile payments. For businesses managing remote teams, multiple currencies, and growing transaction volumes, virtual cards offer security, custom spending controls, real-time tracking, simplified expense management, lower distribution costs, and reduced risks associated with shared or lost cards. Their limitations include dependence on devices, limited in-person acceptance, and inability to withdraw cash. The most suitable option depends on an organization’s spending habits, though a hybrid approach commonly combines virtual cards for online and recurring expenses with physical cards for everyday in-person needs. Airwallex presents its platform as a way to issue and manage both card types alongside multi-currency balances, expense tracking, accounting integrations, and controls intended to simplify global business spending.

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