Gain rewards that physical credit cards offer without having to carry them.Track spending by organizing your expenditure, and keeping tabs on all your transactions.Make contactless payments in online or physical stores securely.Create unique numbers each time you make a purchase online.Here are some of the features you can expect from a virtual credit card: Thus, It's best to check with the vendor before making any payment. But in some cases, this may require an actual card that needs to be scanned when you check-in in person. Other situations are a little trickier and need to be navigated on a case-by-case basis.įor instance, if you book a hotel or rent a car, you may make a payment virtually online.
However, you can’t use a virtual credit card for brick-and-mortar retailers, as you need a card to be scanned.
#Create virtual credit card free#
It isn’t separate from a traditional credit card account, but a free add-on to an existing credit account that offers increased safety.Ī virtual credit card can be used for any online site or transaction. The term "virtual credit card" can be slightly misleading. What is a virtual credit card?Ī virtual credit card is a type of online payment card that acts as a "digital version" of your physical credit card to help simplify your online transactions with additional layers of security to prevent your financial data from being stolen.Ī virtual credit card masks a consumer’s credit information by the creation of a proxy card number unique to the transaction, as well as an expiration date to safeguard your information. Keep reading to find out more about how virtual credit cards work, what alternative you can use, and how you can leverage them for personal or business use. Though this is the case, virtual cards also have their limitations. However, over the past few years, greater security protocols have made virtual payment the preferred method for protecting sensitive data.īut virtual cards don't just offer an extra security layer - It has more features and benefits that go beyond just fraud protection. Based on public views mere decades ago, this switch seems unprecedented.Ī study by the Federal Reserve System found that electronic payments are over ⅔ of all non-cash payments and that 64 million households are paying at least one of their bills online.Ī deep distrust of information safe online and even some outdated views on credit cards themselves make it surprising that virtual payment has shifted to the widely accepted juggernaut it’s become. In today’s world, more and more people are embracing virtual payment for goods and services.
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