Float offers both virtual and physical cards to meet your team’s spending needs. Here’s a breakdown of the key differences and use cases for each type:
Virtual Cards
Virtual cards are digital cards that can be created instantly and used for both one-time or recurring transactions. These cards are versatile and ideal for:
- Online purchases
- Subscriptions and recurring vendor payments
- Assigning to specific team members, departments, or purposes
Each virtual card can be configured with custom spend controls, including budgets, expiry dates, and spending categories. Virtual cards offer added control and security, especially when managing multiple vendors or remote teams.
Physical Cards
Physical cards are issued to team members for in-person or travel-related expenses. They can be used anywhere Visa (CAD cards) and Mastercard (USD Cards) is accepted and are ideal for:
- In-person purchases (e.g., meals, office supplies)
- Travel expenses (e.g., flights, accommodations)
- Day-to-day cardholder spending
Each physical card is linked to an individual employee and includes spend limits and rules set through Float’s platform. These cards provide the flexibility of a traditional corporate card with the control and visibility of Float’s spend management tools. Physical cards come with the business name and the cardholder’s name on them.