Do users need to complete KYC to use virtual card features?
Only the business entity onboarding with Zil Money is required to complete KYC (Know Your Customer) and KYB (Know Your Business)during registration. End-users do not need to go through this process.
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Can vendors or employees use the virtual card for in-person purchases?
The current virtual card system can only be used for online purchases or subscriptions. However, an upcoming update is expected to allow users to link the card to payment platforms like Apple Pay or Google Pay, enabling in-person transactions.
Can funds be moved from one virtual card to another?
Currently, direct virtual card-to-card transfers are not supported. However, funds can be collected from multiple users and pooled into a central wallet, from which a virtual card can be issued.
Do I need a subscription to use credit card payroll services?
No, with Online Check Writer, you can use credit card payroll services at an affordable price without needing a subscription.
Can affiliates use virtual cards to transfer money to their bank accounts?
No, virtual cards cannot directly transfer funds to a bank account, but affiliates can use them with platforms like Google Pay or Apple Pay to make purchases or transfer funds.
Can I use Zil Money’s virtual card for employee payments?
Zil Money offers virtual cards, which can be used for online purchases or subscriptions. These cards can be issued with specific restrictions, such as time limits or spending caps.