Virtual cards are transforming how Australian businesses manage spending, offering greater control, flexibility, and security than traditional credit cards.
If you’re overseeing a growing team, paying international suppliers, or simply want smarter ways to track expenses, a virtual card can help your business stay agile and efficient.
In this guide, we’ll compare the best business virtual cards in Australia for 2025. We’ll explore how they work, what features to look for, and how to choose the right one for your needs. We’ll also introduce the OFX Virtual Card, a powerful debit solution for corporate spending that integrates seamlessly with OFX’s Global Business Account and spend management tools.
Jump to:
• What is a virtual card?
• The business benefits of using virtual cards
• Comparing 5 of Australia’s most popular virtual cards
• How to choose the right virtual card for your business
• Virtual card FAQs
What is a virtual card?
A virtual card is a digital version of a physical payment card, but without the plastic. It’s issued instantly online, stored securely in a digital wallet, and designed for online or in-store purchases. It can also be used via devices like your smartphone, tablet, or wearable.
Each virtual card has a unique card number, expiry date, and CVV, just like a regular credit or debit card. But because it’s digital, you can create virtual cards quickly for different employees, departments, or types of expenses, all while staying in full control of spending.
Here’s how businesses typically use virtual cards:
- Assign team members individual virtual cards with set spending limits
- Track employee spending in real time
- Add cards to Apple Pay, Google Pay, or a digital wallet for secure contactless payments
- Cancel or freeze cards instantly, as needed
They’re especially valuable for businesses that make frequent online purchases, manage remote teams, or want more granular oversight of company expenses. And because there’s no physical card to lose or steal, virtual cards can offer an extra layer of security.
The business benefits of using virtual cards.
Virtual cards offer smarter ways to pay, track, and manage business expenses, especially for companies with global operations or distributed teams. They give you greater control without the risk of overspending or losing a physical card.
Here are 6 of the biggest reasons why more Australian businesses are making the switch:
1. Instant issuance and easy scalability
With virtual cards, you can create new cards in seconds. This means no waiting for delivery when you onboard a new team member. You can instantly issue cards to employees anywhere in the world, making it ideal for remote-first teams or fast-scaling startups.
2. Real-time visibility and control
Virtual cards enable you to see every transaction as it happens. Spend management features enable you to set card limits and track usage by individual or team. That means fewer surprises at the end of the month and better expense management from day one.
3. Enhanced security
Because each card has a unique virtual card number and can be locked or cancelled instantly, you reduce the risk of fraud. There’s no actual card to be stolen or copied, and card details can’t be reused once deleted. Add to that tokenisation via Apple Pay, Google Pay, and other digital wallets, and your business gains an extra layer of protection with every payment.
4. Smooth integration with your tools
Virtual cards can integrate with your expense management system and accounting software like Xero or MYOB. That means simplified reconciliation, full visibility into employee expenses, and less time chasing receipts.
5. Smarter budgeting by department or project
You can issue dedicated cards for specific departments, projects, or subscriptions. This makes it easier to manage budgets by category and avoid unapproved or duplicated purchases
6. Better global control with multi-currency support
Some providers, like OFX, offer virtual cards linked to multi-currency accounts, enabling you to spend in 30+ currencies at highly competitive exchange rates. A multi-currency virtual card is a game-changer for companies with overseas suppliers or remote teams.
Comparing 5 of Australia’s most popular virtual cards.
Australia’s virtual card market is growing rapidly, with more providers offering flexible, digital-first solutions for modern business needs. Below, we compare five of the most popular options, highlighting their key features, benefits, and use cases for different types of businesses.
The OFX Corporate Card 1
The OFX Corporate Card is a multi-currency virtual debit card designed to help businesses simplify global spending, reduce fees, and take control of international expenses, all without relying on credit.
Linked directly to your OFX Global Currency Account, it enables you to pay in 30+ currencies using your available balance. This helps your business avoid costly currency conversion charges and foreign transaction fees that often come with traditional credit cards.
Key features and benefits.
- Instant issuance
Create virtual cards on demand and assign them to new employees, departments, or services within the OFX platform. - Virtual Company Cards
Get better oversight and more control of your recurring business expenses such as software subscriptions, supplier payments and advertising expenses. - Virtual Employee Cards
Give your team and employees the autonomy to spend as they need to without going over budget on purchases online or in person like travel, entertainment and resources needed for their job. - Built-in expense management tools
Categorise expenses, automate reporting, and streamline reconciliation with full visibility across every card number, employee, and team. - Real-time spend control
Set spending limits, freeze cards instantly, assign by team or location, and monitor each virtual card transaction live. - Multi-currency support
Receive, hold and spend in 30+ currencies. Pay suppliers and remote teams in their local currency, avoiding unnecessary conversion fees. - Apple Pay and Google Pay compatibility
Add OFX virtual cards to your digital wallet for secure, contactless in-store purchases. - No credit risk
Because it’s a debit card linked to your OFX Business Account, every payment is backed by funds you already have. That means no interest, no debt, and no surprises. - Secure by design
Each virtual card comes with unique credentials and can be added to Apple Wallet or Google Wallet for secure contactless payments, reducing fraud risk of using or losing the physical card.
This card is especially useful for Australian businesses that operate globally, manage multiple employees or vendors, and want to stay debt-free while maintaining precise control over every dollar spent. It’s a well-rounded option for businesses seeking water-tight expense management and global spending power.
The Volopay Virtual Card 2
Volopay offers a robust virtual card solution tailored for startups and SMEs operating in Australia. Integrated directly into its expense management platform, Volopay enables companies to issue unlimited virtual cards instantly, each with individual spending limits, project links, and multi-currency support.
Key features and benefits.
- Unlimited virtual cards on demand: Issue cards per employee, department, or vendor instantly.
- Project or department linking: Use the “Linked To” feature to assign each virtual card to a specific department or project for clearer budget tracking.
- Custom spend controls: Set precise spending limits and virtual card expiry dates to ensure tight fiscal control.
- Real-time reconciliation: Every virtual card transaction is tracked live with automated categorisation and synced with accounting software.
- Multi-currency support: Hold funds in 10 currencies.
- Built-in approvals: Configure up to five levels of spend approvals to enforce compliance and streamline workflows.
Volopay’s virtual cards are ideal for Australian businesses that need granular control over budgets, vendors, and subscriptions. However, while Volopay is strong on expense oversight, it lacks some advanced multi-currency features (such as the ability to hold, manage, and pay from multiple currency wallets). This may limit its usefulness for businesses with more extensive global payment needs.
American Express 3
American Express offers a range of virtual business credit cards in Australia, but its standout solution for spend management is the American Express Go platform. This tool allows companies to issue virtual cards instantly, send them directly to employees’ phones via the Amex Go mobile app, and control usage through a central admin portal.
Key features and benefits.
- Instant virtual card issuance: Create and distribute virtual cards to employees in seconds through the Amex Go portal.
- Mobile-first access: Cards are added directly to the Amex Go app, enabling employees to make purchases immediately via their mobile devices.
- Customisable controls: Set specific spending limits, expiry dates, and merchant restrictions for each card.
- Global usability: Amex virtual cards are accepted wherever American Express is, making them ideal for international purchases.
- Transaction visibility: All card activity is tracked in real time, giving finance teams insight into spending patterns and helping with reconciliation.
American Express virtual cards are a good fit for businesses that already use the Amex ecosystem and want secure, trackable card access without issuing physical cards.
However, its products tend to carry higher fees than some competitors, with annual card fees starting from AUD 149. Additionally, while Amex cards are widely accepted, coverage may be limited in certain merchant categories compared to Visa or Mastercard.8
The Wise Business Card 4
Wise offers a business debit card that supports virtual card functionality and multi-currency accounts. Australian businesses can issue both physical and virtual cards tied to their Wise Business Account, making it easy to pay online, manage international expenses, and reduce currency conversion costs.
Key features and benefits.
- Multi-currency virtual cards
Spend in over 40 currencies directly from your Wise account, using exchange rates with low conversion fees. - Instant virtual card creation
Generate up to three active virtual cards per user and start using them right away for secure online purchases or subscriptions. - Real-time controls and alerts
Set spending limits, freeze or cancel cards instantly, and get notified about every transaction. - Apple Wallet and Google Wallet compatibility
Add Wise virtual cards to your mobile wallet for convenient in-store payments while travelling or working remotely. - No monthly account fees
Wise offers a transparent fee structure with no ongoing monthly account fee, making it cost-effective for international transactions. - One-time fee for local account details
Pay a one-time fee of $655 to unlock local account details around the world
Wise is a smart choice for Australian businesses that make frequent cross-border payments or operate with global vendors.
However, it lacks deeper spend management tools like team-level controls, approval workflows, or advanced reconciliation features, which may be limiting for larger companies. Similarly, the limit of three cards per user6 may be overly restrictive.
The Weel Virtual Card 7
Weel is an Australian spend management platform that offers flexible virtual corporate cards for businesses looking to control team spending without relying on traditional credit.
Designed with startups, agencies, and small to mid-sized businesses in mind, Weel combines real-time expense tracking with instant virtual card creation.
Key features and benefits.
- Instant virtual card creation: Issue single-use or recurring cards in seconds for employees, subscriptions, or suppliers.
- Custom spending rules: Set limits by merchant type, dollar amount, or frequency to prevent overspending and misuse.
- Receipt capture & expense sync: Transactions auto-categorise and sync with accounting platforms like Xero and MYOB.
- Built-in budgets: Allocate funds to teams or projects and track how much has been spent in real time.
- Browser extension for online payments: Autofill card details at checkout securely, with integrated policy controls.
- No credit checks: As a prepaid model, businesses can stay debt-free while controlling daily or monthly limits.
Weel’s virtual cards are ideal for Australian businesses wanting real-time expense control, automated reconciliation, and the flexibility to issue cards without needing credit approval.
However, Weel doesn’t offer multi-currency wallets or built-in foreign exchange tools, making it better suited to domestic spending rather than cross-border payments.
How to choose the right virtual card for your business.
Choosing the best virtual card for your business comes down to how your company spends money. Start by assessing your team size, spending habits and patterns, and whether you make international payments.
For strong expense control, look for a provider that supports easy card issuance, advanced spend tracking, and integration with your expense management system. Features like real-time visibility, custom spending limits, and accounting software integration can reduce admin and enhance the accuracy of financial reporting.
Security should also be a top priority. Choose a platform with card tokenisation and the ability to freeze or cancel cards instantly. If you regularly pay international vendors, opt for a virtual card with multi-currency support and competitive foreign transaction fees.
It doesn’t matter if you’re creating virtual cards for subscriptions, travel, day-to-day spending, or even cross-border payment; ultimately, the right platform should meet your needs without adding cost or complexity.
Smarter spending with OFX.
Take the hassle out of global business payments with the OFX Corporate Card. Instantly issue virtual cards for teams or projects, set custom spending limits, and track every transaction in real time.
With access to 30+ currencies and no reliance on credit, it’s the simple, secure way to manage international expenses. Enjoy full visibility and control, all backed by funds in your OFX Global Business Account.
To discover how the OFX platform can make your domestic and global spending work for you, take a virtual tour and book a demo with one of our experts today.
Frequently asked questions about virtual cards.
What is a virtual card, and how does it work?
A virtual card is a digital version of a physical card used for secure online purchases or business expenses. It includes a unique virtual card number, expiry date, and CVV, and can be used just like a regular credit or debit card—without the risk of losing the actual card.
How many virtual cards can I create for my business?
With providers like OFX, you can create unlimited virtual cards for employees, departments, or projects. Each card has its own spending limits and virtual card details for better control and visibility.
Can I use a virtual card for contactless payments?
Yes, virtual cards can be added to your digital wallet, such as Google Pay or Apple Pay, for secure in-store contactless payments using your mobile device or smartwatch.
Are virtual card transactions secure?
Virtual card transactions offer an extra layer of security by using a unique card number for each use case. This reduces the risk of fraud, especially when making online purchases or vendor payments.
What’s the difference between a physical card and a virtual card?
A physical card is a plastic card used for both online and in-store purchases, while a virtual card exists only in digital form and is ideal for online transactions or digital wallets. Both share the same card issuer network but offer different levels of flexibility and control.
How easy is it to create virtual cards?
With OFX, creating virtual cards is fast and simple. In just a few clicks, your card is ready to use. You can instantly issue cards to employees, assign spending limits, and manage them all in one secure place with the OFX Business app.
Get started for free today.
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Sources
1) https://www.ofx.com/en-au/business/virtual-card/
2) https://www.volopay.com/au/virtual-cards/
3) https://www.americanexpress.com/au/business/payment-solutions/vpayment/
4) https://wise.com/au/business/card
5) https://wise.com/au/pricing/business/receive
6) https://wise.com/help/articles/1AqrRndtxosydM2GLR3U6T/getting-started-with-your-wise-digital-card
7) https://letsweel.com/product/corporate-cards
8) https://www.finder.com.au/credit-cards/american-express-credit-cards/american-express-vs-visa
Visa is a trademark owned by Visa International Service Association and used under license.
Apple Pay is a service provided by certain Apple affiliates, as designated by the Apple Pay privacy notice. Neither Apple Inc. nor its affiliates are a bank. Any card used in Apple Pay is offered by the card issuer.
Google Play and Google Pay are trademarks of Google LLC.
