A long time client who pays via cheque is switching me to a virtual credit card payment system - a system that their other vendors love. They will email me the credit card number and CVS number. I don't understand, and they can't explain, how I get money off the card and into my bank account. I don't want to spend $,000s on ebay just to access the funds - and I don't want to run it through PayPal - incurring fees and getting suspicion or problems for using a virtual credit card. Does anyone know how this works?
Without more information, they could be talking about two things: 1. They want to pay you via Credit Card (in this case, a Virtual Credit Card) and you have to have a way to process that credit card for payment. For that you would need a merchant account, or use a processor that allows you to enter charge/bill credit cards. 2. They want to give you a Virtual Credit Card and when they pay you, instead of mailing a check, they load funds onto that card for you to spend. A lot of companies are doing this now as it is cheaper than mailing checks and you get the funds more quickly. You need to ask them more questions as to what they mean. If they want to pay you by credit card instead of a check, then you need a way to be able to accept that card.