Virtual Cards 101: An Introduction to Virtual Cards for B2B Spend

In the rapidly evolving landscape of business transactions, the utilization of virtual cards is emerging as a transformative tool for managing B2B spend efficiently. This session aims to provide a comprehensive introduction to virtual cards, offering insights into their functionalities, benefits, and implementation strategies within B2B spend, travel, and expense contexts.

Attendees will learn the fundamentals of virtual cards including how they:

• Automate payment reconciliation
• Earn rebates on supplier payments
• Increase spend / payment visibility and control 
• Eliminate the need to issue 1099 forms
• Reduce check payments and the associated costs 
• Enhance security and mitigate fraud
• Improve working capital management
• Take advantage of early payment discounts from suppliers 
• Reduce / eliminate late payment fees

 
Whether you're an AP, travel or finance professional seeking to modernize payment and workflows or a business leader aiming to enhance operational efficiency, this session will provide valuable guidance for harnessing the power of virtual cards to optimize B2B spend, travel and expense management in today's dynamic business environment.

Participants will gain practical insights into leveraging virtual cards to drive cost savings, improve cash flow, and mitigate fraud risks in B2B transactions. 

If you always wanted to learn more about virtual cards, this session is for you.

Bob Cohen
Director, B2B Partnerships and Embedded Finance, Mastercard

Bob Cohen is Director, B2B Partnerships and Embedded Finance. In his role, Bob is responsible for supporting partnerships for B2B, looking at new ways to create embedded user experiences for financial services and provide more value to the industry around data insights, payment digitization and working capital alternatives. Bob and the B2B Partnerships and Embedded Finance team partner with market leaders, and innovative organizations to combine expertise and complementary technologies to bring about industry wide transformative change to the B2B and payments industry.

Bob has 25 years’ experience working with companies solving Procure-to-Pay and B2B supply chain payment challenges. Over his career, he has helped hundreds of AP and P2P teams achieve Best-in-Class performance via their use of ePayables, B2B Payments, P2P, and Business Network solutions.

Grace Chlosta
Senior Content Manager, IOFM

Grace is the Senior Content Manager at the Institute of Finance & Management (IOFM), where she has led content strategy and development since 2022. In this role, she oversees all aspects of IOFM’s digital and event-based content, ensuring it remains timely, relevant, and actionable for all financial operations professionals.

Grace manages IOFM’s robust library of site content, leads the organization’s editorial and member webinar programming, and hosts IOFM’s podcast series. She also oversees a team of subject matter experts who contribute thought leadership and educational articles. In additional, Grace curates and manages all speaker content for IOFM’s in-person and virtual events, ensuring consistency and quality across every touchpoint. With nearly three years in the role, Grace brings a deep understanding of the financial operations landscape and a passion for delivering content that empowers professionals to excel in their roles.