Virtual credit cards are being touted as a safer alternative to physical cards due to their digital existence. Seth Goodman, CRO of Boost Payments, explains the security benefits. The company has raised $38.1 million and employs around 100 people. They focus on streamlining both accounts payable and accounts receivable processes.

Goodman highlights the importance of embedded controls on virtual cards, which contribute to their low fraud rates compared to traditional cards. Boost Payments automates the entire process, reducing the risk of fraud through human interaction. Fraud exposure is kept in the low single digits, making virtual cards a secure option for businesses.

Boost Payments is experiencing strong year-over-year growth in the virtual card industry, outpacing the overall growth rate. The industry as a whole is seeing double-digit growth for virtual cards, indicating a shift towards digital payment solutions. Good news for those looking for secure and efficient payment methods.

Read more at Yahoo Finance: Why virtual cards can be safer than plastic