Have you ever wanted to buy a product online but you were worried that the purchase would come with a certain risk? You are not alone. Potential fraudsters and unscrupulous merchants who have access to your credit card details can steal your identity and expose you to great financial loss. This is why you need to get a virtual credit card so that you can shop confidently and safely even when there is little known information about the online merchant.
What Exactly Is A Virtual Credit Card?
A virtual credit card is a non-permanent credit card number that is used in place of your actual card number. You can use your virtual credit card number to carry out online transactions when you don’t want to expose your credit card information.
In order to do this, a unique credit card number is linked to your credit card and you can use it to carry out transactions without exposing your original credit card number. Depending on the issuer of your credit card, you can also set a maximum spending for your virtual card and enhance the security of your credit card.
Virtual credit cards are the digital versions of physical credit cards. This means that a virtual credit card will work the same way your regular credit card does when you’re shopping online but the transactions are managed through a digital wallet such as the Samsung Pay, Google Pay or the Apple Pay.
On the 25th of March 2019, Apple introduced its newest product, the Apple Card which will revolutionize how payments will work in the future. Visit https://www.apple.com/apple-card/ and find out why millions of people love Apple Pay. You can also use your titanium apple credit card to shop at locations where Apple Pay hasn’t been accepted yet.
Who Provides Virtual Credit Cards?
Big banks such as the Bank of America provide virtual credit card services as a free amenity to their customers. Third party services such as Entropay also create virtual and disposable credit cards for free. In addition to these offerings, the tech giant Apple Inc. is rolling out its virtual credit card in 2019. This card will be accepted at all MasterCard outlets and the app will categorize all the purchases for you.
What Are The Benefits Of Virtual Credit Cards?
Virtual credit cards have numerous benefits but the biggest benefit you will get is the protection of your credit card information. In the event a hacker steals your virtual card, they will not be able to compromise your actual account and this greatly improves your overall card security.
Having a virtual credit card will make it possible to get cash back rebates that will help you earn actual business money, unlike point cards. Purchases made using the virtual credit card will show up as normal in your account thus you will not need to worry about hidden transactions.
The ability to manage your virtual credit card through a digital wallet makes it a very convenient option. Instead of having to carry credit cards in your wallet, you can simply use your mobile phone and make your transaction from there.