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What is a virtual card?

A digital card is a bank card without a plastic counterpart. It is usually issued in less than a minute, and all its data - number, expiration date and CVC-code - are in the client's personal account and mobile app. In fact, these are separate details with which you can make purchases online. Once you attach the card to the payment system of your smartphone, such as Samsung Pay or Mir Pay, you can use it - pay for purchases in stores and make transactions at ATMs. Where prepaid virtual cards are used
The main danger when making payments on the Internet is the risk that card data could be stolen in some way. As a result, attackers will gain access to the card account and be able to steal money from it.

Where prepaid virtual cards are used

The main purpose of a virtual card is to make online payments more secure. For this purpose, a card account is created, which is separate from the main account and contains relatively small amounts needed for the next payments.

The main purpose of a virtual card is to make online payments more secure. For this purpose, a card account is created, which is separate from the main account and contains relatively small amounts needed for the next payments.

You can replenish a virtual card in different ways, including from the main card. But even hacking a virtual card does not give you access to the main card account.

Another reason to get a virtual card may be the desire to separate remote payments and spending in the "real world". But that is a matter of managing personal finances.

Sometimes a virtual card is acquired because another card is ill-suited to online payments. This happens with low-end payroll cards based on regional payment systems.

Virtual cards can be used not only for spending, but also for receiving and storing money.

The digital card is mostly used for comfortable online shopping. It has an individual account number to which the holder can transfer money from his main account or set a daily spending limit. It can also be loaded into a mobile wallet so that you don't have to carry plastic around.

The limited amount on your digital card will prevent you from buying a subscription to an online movie theater, music service, or ecosystem if you forget to cancel it after the trial period. The service will simply have nothing to charge to your virtual account.

The digital card also makes online shopping safe. Because of the separate account, a fraudster who can access the card will only get to the money in the virtual account. The customer's main savings will be in another account. Also, if a customer can't resist buying from a suspicious but very interesting site, he can create a digital card specifically for that purchase and then close it.

But the main purpose of virtual cards is Internet payments. Paying for purchases online, you have to enter card data on various sites, which is not always safe. And for these purposes it is best to use a virtual card. You can open it at any time, in most banks you can do it for free, and transfer to it exactly the amount you plan to spend online. In the end, even if fraudsters get hold of your card details, they still will not get your money.

Such a virtual debit card will be your reliable storage for money. After all, you can use it to transfer your salary or while traveling. You will not have to deal with huge commissions and other unpleasant moments on the road. You can use such a card for cashing out as well as for making online purchases. It will also not be a problem to make a transfer to another bank's card. All this can be done with the help of an application or through a personal account.

With such a card, you will definitely not go into deficit. In addition, you can study the report of all your expenditures in the future. With such a card, it will be much easier for you to control your budget, planning all expenses in advance. Cards are so convenient and safe that many people even open them for their children, so that they can better control all their pocket expenses.

Advantages of virtual cards

The main advantage is versatility. After all, you can pay with such a card almost anywhere. You save a lot of time and a lot of bureaucratic hassle.

The fact that you can get your card without visiting the branch saves your time. Details of the card are generated in seconds, because the client does not need to issue a plastic card.

The high level of security in use is another plus. After all, you no longer have to leave the details on sites you do not trust much. Also, the card can have exactly as much money as you need to make a purchase. So you cannot be afraid of fraudsters and the loss of a large amount, as often happens with plastic.

Customers also appreciate the anonymity very much. After all, the name is not mandatory data that must be reported at registration. There is also no contract to be concluded. So you don't have to be afraid of leaking information if it's important when making a purchase. The validity period of virtual bank cards can be one or two years, but electronic cards, which the client registers online, are issued for an unlimited period.

If you evaluate all the pros and cons of this banking product, the advantage is clearly in favor of the former.