MetaBank has been working with virtual card issuer StoneEagle Services for more than five years in an effort to extend such services to corporate customers. On Wednesday (Dec. 2), MetaBank announced that it wants to stay the course.
The bank and StoneEagle struck a five-year extension of their partnership, which sees StoneEagle linking MetaBank’s Meta Payment Systems corporate clients into virtual B2B payment technologies.
In a statement, Metabank President Brad Hanson called StoneEagle a “pioneer” in B2B virtual payments. Toegther, the two have focused their v-card services on easing friction within payments, from insurance companies to automotive and health care providers, as well as other industries.
Their collaboration connects StoneEagle’s VPay B2B payment processing service into the Meta Payment Systems suite of corporate tools.
[bctt tweet=”StoneEagle’s VPay virtual B2B payment service links to Meta Payment Systems.”]
Virtual cards have become an increasingly popular payments tool among businesses, largely for their security capabilities. A virtual card can be issued as a one-time use product and for a certain amount, limit the risk of misuse or fraud.
Corporate travel and expense management is a key pioneer of the technology, with businesses using virtual cards to pay hotels and other accommodations providers for employee trips.
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