Virtual Assets

Virtual Assets allow you to manage virtual cards and other digital financial instruments within your PayMongo account. Use virtual assets for online purchases, subscriptions, and digital transactions.

Overview

Virtual Assets include:

Asset Type	Description
Virtual Cards	Digital card numbers for online transactions
Digital Wallets	Connected e-wallet accounts
Payment Tokens	Tokenized payment methods

Virtual Cards

What are Virtual Cards?

Virtual cards are digital card numbers that can be used for online transactions without a physical card. They're ideal for:

Online purchases
Subscription services
Recurring payments
Vendor payments

Creating a Virtual Card

Click "Create Virtual Card"
Set spending limits
Configure expiration
Assign to a purpose or department
Activate the card

Card Details

Field	Description
Card Number	16-digit virtual card number
Expiry	Card expiration date
CVV	Security code
Billing Address	Address on file

Spending Controls

Set controls on virtual cards:

Control	Options
Spending limit	Per transaction or total
Merchant categories	Restrict where card can be used
Time limits	Active hours or dates
Single use	One-time transaction only

Managing Virtual Assets

Asset Dashboard

View all virtual assets with:

Asset name/identifier
Type
Status (Active, Suspended, Expired)
Balance or limit
Last used

Asset Actions

Action	Description
View details	See full asset information
Suspend	Temporarily disable
Activate	Enable suspended asset
Delete	Permanently remove
Edit limits	Update spending controls

Transaction History

Track transactions made with virtual assets:

Column	Description
Date	Transaction date
Merchant	Where the transaction occurred
Amount	Transaction amount
Status	Approved, Declined, Pending
Asset Used	Which virtual asset was used

Security Features

Real-time Alerts

Receive notifications for:

Every transaction
Declined attempts
Spending limit reached
Unusual activity

Fraud Protection

Instant card suspension
Merchant blocking
Geographic restrictions
Velocity limits

Use Cases

Scenario	How to Use
Subscriptions	Create cards for each subscription
Vendor payments	Issue cards with specific limits
Travel expenses	Set travel-specific spending rules
Department budgets	Assign cards per department
One-time purchases	Use single-use virtual cards

Best Practices

Practice	Recommendation
Use single-use cards	For one-time online purchases
Set spending limits	Control maximum transaction amounts
Monitor regularly	Review transactions frequently
Suspend unused cards	Disable cards not in active use
Label clearly	Name cards for easy identification

Feel free to reach out to [email protected] if you have questions about virtual assets!