The virtual credit cards are increasingly widespreadas many users have begun to understand its advantages and more and more credit institutions have begun to offer this service, in most cases free of charge for those who hold a physical credit card or a current account.
A virtual credit card can be of different types, but in any case it reduces the possibilities of loss or, at worst, of theft, fraud and cloning. They can also be used in physical stores, but it is in online shopping that they reveal their full usefulness.
Virtual credit card, what it is and how it works
A virtual credit card is a real credit card (or debt), equal to the physical ones that are provided by banks and other institutions. They present all the elements found on paper ones, such as security codes, number, owner and expiration date.
They can be used for online shopping and, thanks to some applications or if saved in the wallet of your smartphone, for purchases at physical stores. They are considered particularly safe because, unlike paper ones, they cannot be forgotten or lost, but are always at hand by accessing the appropriate platforms via smartphone or other mobile device.
They were designed for guarantee safe shopping on the web, depending on your needs. Virtual credit cards can be created that contain only the amount needed for a purchase, larger funds, valid for a single transaction or for a limited duration depending on need.
Once used or expired, the virtual credit card ceases to exist. This makes any cloning more difficult, if not impossible.
Credit cards give you great control over online payments, because at any time you can see how much is being spent, if unauthorized transactions are made and, possibly, proceed with an immediate block of the card without compromising your daily activities.
Online shopping, why prefer a virtual credit card: all the advantages
Virtual credit cards they are extremely safebecause their number changes every time one is realized and ceases to exist when there is no longer a need to carry out transactions or one’s objective has been reached.
They protect privacysince thanks to these services we avoid providing personal data and financial data that are necessary for the purchase of important products, such as fuel and food, and keep them safe from malicious people.
It is always advisable not to provide financial, sensitive and personal data when possible, to avoid falling victim to scams or getting into unpleasant situations
They are ideal to use for e-commerce sites that you don’t know about, or for which you can find few reviews the reviews are not reassuring or when there are elements, such as excessively high discounts, that lead to a sense of distrust.
If you are concerned that the e-commerce or the seller may perform some unauthorized withdrawals, in most cases it is possible to set a maximum spending limit which must not be exceeded under any circumstances. Once reached, all transactions will fail.
They can be created for make recurring payments, such as subscriptions to music or video streaming platforms, such as Spotify and Netflix. In this way, by dedicating a virtual card to these expenses, it will be easier to keep your expenses under control and block charges that become unwanted simply by eliminating the virtual card.
You can create virtual credit cards with a limited duration, to be used to receive refunds for purchases that they did not have a positive outcome or to request cashback.
How to get a virtual credit card, which one to choose and how to use it
A virtual card can be obtained and created in several ways. Many banks and institutions allow their creation to customers who need it. In that case it is necessary connect to home bankinglog in with your credentials and go to the service page.
Depending on the possibilities offered and your needs, choose your card settings of virtual credit, selecting, for example, a maximum limit not to be exceeded or a precise expiry date, after which the card ceases to exist.
Alternatively, there are numerous services, easily available on the web, which allow you to obtain a virtual credit card. Among these is Revolut, which in addition to physical cards, allows you to obtain virtual and/or disposable cards at affordable costs. The virtual card can be easily connected to Apple Pay or Google Pay and used immediately to make purchases. It offers users various plans, among which there is a free one and others with different management costs depending on the features you want to access, and an account designed for minors.
A virtual credit card can be useful for offering greater independence to minors and, at the same time, giving parents the opportunity to have a margin of control over their spending
Once you have your virtual credit card, using it is very simple. Proceed to select the desired products and, when completing the purchase, if the circuit and payment method is provided by the shop, enter the required data of the virtual card: number, expiry date, CVC or CVV and name of the owner . Finish the procedure.
The same must be done in case of subscriptions or use of installment deferral services. If the card comes connected to Apple Pay or Google Pay It is in the wallet of your smartphone, you can also use it to make purchases in physical stores.
To know more: Digital payments, what they are, what they are, innovation and platforms