Virtual Credit Card Payments a Concerning Gray Area

By Greg JonesWestern Bureau ChiefAn emerging trend of using virtual credit cards to pay lien awards or vendor bills has raised some concerns among California medical providers and attorneys, even though no law or regulation prohibits their use.The problem is that virtual credit cards are not negotiable instruments that can be cashed at a bank. Instead, they have to be processed like any other payment involving a credit or debit card and the companies that process these payments typically charge as a fee a percentage of the total transaction amount.While the processing fee is typically only a c...