What are virtual cards for entertainment productions?

Virtual cards are digital payment credentials (card number, expiration, CVV) that function like physical Visa cards but can be created instantly with specific spending limits, merchant restrictions, and expiration dates. They replace cash advances and corporate cards for per diem, petty cash, and department spending on productions.

How do virtual cards help with per diem management?

Platforms like EvedPay Card automatically load daily per diem amounts to individual crew cards, eliminating cash envelopes and tracking spreadsheets. Crew members can view their balance and submit receipts via a mobile app, while production accountants see every transaction in real-time.

What is the best virtual card solution for film productions?

EvedPay Card is purpose-built for entertainment, offering virtual and physical Visa prepaid cards with per diem automation, department budget controls, merchant restrictions, a multi-language mobile app, and real-time transaction visibility. Productions typically see 95% reduction in cash handling and 3-5% rebates on card spend.

What are virtual cards and how do they benefit the entertainment industry?

Virtual cards are digital payment credentials that function like physical cards but exist only digitally, offering instant issuance, granular spending controls, and real-time tracking for entertainment productions and events. They reduce the risks associated with cash advances and personal reimbursements, providing better financial visibility and fraud prevention.

How do Eved's virtual cards help manage per diem and petty cash for productions?

Eved's virtual and physical prepaid cards allow productions to issue funds instantly to crew members with specific spending limits, merchant category restrictions, and expiration dates. This automates per diem and petty cash distribution, enabling real-time tracking of expenses and simplifying reconciliation, replacing traditional, risky cash advances.

What security features do Eved's virtual card solutions offer for entertainment payments?

Eved's virtual card solutions enhance security by providing granular controls such as setting maximum spend limits, restricting purchases to approved merchant categories, and time-bounding cards. Every transaction is tracked in real-time, significantly reducing the risk of lost or stolen cash and improving fraud prevention compared to traditional methods.

Can Eved's virtual cards be used for global production payments?

Yes, Eved's platform, including its virtual cards, is designed for global operations, enabling payments to independent contractors and vendors in over 200 countries and 140 currencies. This streamlines cross-border transactions and ensures tax compliance for international film, TV, and live event productions.

How does Eved's virtual card system integrate with existing accounting workflows?

Eved's virtual card transactions flow directly into the EvedAP workflow, which integrates with existing ERP and accounting systems like SAP, Oracle, QuickBooks, and production accounting platforms. This ensures seamless reconciliation, eliminates duplicate data entry, and provides a single source of truth for financial data.

Virtual Card Solutions for Entertainment: Per Diem & Petty Cash