NAB the first Aussie bank to launch digital wallet-enabled virtual corporate card

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  • NAB Virtual Corporate Card allows businesses to provide quick, secure, pre-approved credit on the go
  • Simplifies and automates expense management
  • The Virtual Card is brought to life with Visa, Apple Pay and Google Pay

In an Australian banking first, NAB has launched a new, plastic-free, virtual corporate credit card to help businesses streamline, modernise and simplify their expenses.

The NAB Virtual Corporate Card allows organisations to create virtual cards – on demand – for employees and contractors to use in apps, online, or in store, no matter their location. Additionally, these cards can be used with digital wallets such as Apple Pay or Google Pay.

NAB’s new Virtual Corporate Card gives businesses the flexibility to provide access to funds quickly and securely for staff, while at the same time helping streamline cash reimbursement and procurement processes.

NAB Executive Business Everyday Banking Products, Shannon Peachey said the new Virtual Corporate Card would help Aussie businesses reduce administrative work and get precious time back in their day.

“There’s one thing our customers can never get enough of – time. So, we’re really focused on developing innovations that reduce paperwork, remove clunky processes and make the lives of businesses just a little easier,” Ms Peachey said.

“The advanced, smart card, security features offered by our new Virtual Corporate Card also ensures spending is controlled before usage, not after. This means cards can be issued for a specific purpose, with all spend pre-approved and unauthorised expenditure blocked.

“It’s not uncommon for the CFO of a company to get a call from an employee who needs an instant payment. It could be for urgent supplies on a worksite, payment for a taxi or a purchase at a trade show. With our Virtual Corporate Card, businesses can now easily provide funds digitally to their employees on the go, eliminating the need for them to self-fund purchases and seek reimbursement later.”

Melbourne Business School – the University of Melbourne’s graduate school in business and economics – Chief Operating Officer and Chief Financial Officer, Joel Chibert said the adoption of NAB’s new Virtual Corporate Card would offer the organisation and its staff better flexibility, and more control over spending.

“It cuts the amount of time spent in card management and issuance, while also reducing security risks from card loss, theft and cybersecurity breaches,” Mr Chibert said.

“As a long-time NAB client, we’re thrilled to be among the first to use the first plastic-free, digital corporate credit card in Australia.”

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