Zip Expands Intake-to-Procure Platform with Virtual Cards

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According to a news release issued by the firm on Thursday, June 29, the new Zip Vendor Cards give businesses the ability to accelerate vendor payments while improving their control and visibility over spending.

“Zip Vendor Cards, in combination with Intake-to-Procure or Intake-to-Pay, safely accelerates the entire procurement process via flexible intake and approval workflows, so finance teams can spend less time manually processing payments and more time analyzing and optimizing their spend,” said Zip Co-founder and CEO Rujul Zaparde in the release.

According to the press release, Zip Vendor Cards enable finance and accounts payable (AP) teams to simplify one-time purchases by quickly establishing virtual cards and automatically generating cards from processes based on approval requirements.

According to the press release, the new tool integrates with Zip’s Intake-to-Procure solution to provide these teams management over spending caps and merchant categories, card freezing and unfreezing, and card ownership transfers.

In the announcement, Zaparde stated that while efficiency is crucial in the current economic climate, businesses cannot afford to risk accuracy or compliance in the name of expediency. Because of this, we make it simple for our clients to automate their payment procedures using our user-friendly, fully compliant Vendor Cards solution.