Now a days you’ve probably heard a term virtual credit card or virtual debit card, but chances are you might not know what exactly these are.
What is a virtual debit card?
A virtual debit or credit card is a digital version of a physical cards that we commonly use. They provide sixteen digit number same as triditional cards with CVV code that are randomly generated using software algorithm. The numbers won’t be similar to as that of your phuysical card but still they’ll allow you to access and transactions from your same account.
How to use virtual credit/debit cards?
Different companies have their own policies for virtual cards. But the main reason for having virtual cards is to provide ease of virtual payments for ecommerce transactions. It takes time from applying for a physical card and till the time you recieve it. In order to make all your improtant payments so that your business won’t suffer, virtual cards helps you to do the payments seamlessly.
Are virtual card payments secure?
In virtual cards credentials are randomly generated with token process, which makes it a secure method for the payment. Virtual cards have no data that can be stolen or captured, In addition to that virtual card have a assigned limit to prevent overcharge.
Where we can use virtual cards?
Virtual cards can be used only for purpose of online transactions and purchases, that may or may not include manual record. The virtual cards are meant to be used only until your permanent card arrives.
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