Virtual Credit Card | Why Should You Get a Virtual Credit Card?

Credit Cards

A virtual credit card, which typically has 16 digits like a real credit card, uses randomly generated dummy numbers to offer users an added degree of security when transacting online. In this blog, we give you a virtual credit card guide. 

Virtual Credit Card Guide

Furthermore, the randomly generated numbers are typically used for a single transaction and may expire if not utilized within their validity time. Some even let you establish a spending restriction for each transaction. While a virtual credit card is linked to your real account (often your regular credit card), your actual card number is not disclosed. This protects you against being defrauded by hackers, rogue internet merchants, or criminals. A virtual credit card enables secure online purchases by lowering fraud risks.

Prepaid virtual cards are also available, in case you were wondering. Prepaid virtual cards, rather than being tied to a credit card, are linked to prepaid accounts or e-wallets.

Why Should You Get a Virtual Credit Card?

Purchases made online are safe

The most appealing aspect of virtual credit cards is the increased security they provide when used for online shopping or offshore purchases. Because the card numbers are produced at random, it is difficult for anyone to obtain your identity and genuine credit card information.

It is completely free

The production of virtual credit card numbers is normally a free service provided by credit card companies to their consumers. As a result, if you haven’t already, take advantage of the free enhanced security benefit.

Improved degree of control

To meet your needs, virtual credit cards with single- and multi-use virtual numbers are available. Furthermore, with virtual account numbers, costs are expected to be limited to a single vendor.

Reassuring peace of mind

One of the primary advantages of virtual credit cards is the increased security you get while making online transactions, especially when shopping from a vendor you don’t know much about. There is no need to deal with any administrative complication in the event of a data breach when using single-use virtual credit card numbers. Your virtual credit card cannot be fraudulently misused or used to make fraudulent purchases. In the case of multi-use virtual credit card numbers, you can simply produce another unique number to replace it.

Is it possible to obtain a virtual credit card online?

You very certainly can. While some are only available to business clients, regular consumers like you and me can choose from a variety of prepaid or virtual credit card providers, which we’ll discuss in greater detail below.

In Singapore, what is a prepaid credit card?

Prepaid cards are debit cards that have had money pre-loaded onto them. They, like ordinary debit cards, can be used for payment as long as they are sufficiently funded. Naturally, merchants must accept such card payments. In summary, while some may refer to these cards as prepaid credit cards, they are, in fact, debit cards.

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