The sharp increase in U.S. merchant contactless payment capability during the pandemic is increasing the appeal of virtual payment by tackling one of its many challenges.
For all their well-documented strengths in terms of controls, fraud prevention, data quality and velocity, compliance, reduction in manual processes, ease of distribution and support for infrequent travelers, virtual cards traditionally hit speed bumps out in the field. Hotels often had trouble accepting them at check in, and virtual payment generally was not an option in restaurants. During the past few years, though, more providers made virtual payment available . . .