Virtual credit card
A virtual credit card is a digital version of a physical credit card, specifically used for online payments.
Virtual credit card
The virtual credit card offers a modern solution for secure and convenient online shopping. It works similarly to a physical credit card, but without a physical plastic card. Instead, you receive a unique card number, expiry date, and security code that can be used exclusively for online payments.
Using a virtual credit card offers several benefits. Firstly, it increases security because your actual credit card details are not transmitted online. Secondly, it allows for better control over your spending, as you can set limits for online purchases in advance. Thirdly, it protects against unauthorised charges, as the card is only valid for a limited time and/or for a specific amount.
Virtual credit cards are often issued by banks or payment service providers and can exist in different forms depending on the provider. Some virtual credit cards are reloadable, while others are intended for single-use only.
Payment service providers like Payrexx integrate virtual credit cards into their platform to offer merchants and customers a secure and flexible option for online payments.
Virtual credit card examples
A customer creates a virtual credit card with a specific balance to set a limited budget for online purchases.
A person uses a virtual credit card to make a secure one-off payment on an unknown website.
A company provides its employees with virtual credit cards to control expenses for online business purchases.
Virtual credit card FAQ
Can virtual credit cards be rechargeable?
Yes, some virtual credit cards can be reloaded and used for repeat transactions. However, others are only intended for one-time use.
Are virtual credit cards safer than physical credit cards?
Virtual credit cards offer an additional layer of security as they cannot be physically stolen and contain only limited information.
How do I get a virtual credit card?
You can apply for a virtual credit card from your bank or an online payment provider like Payrexx.
Can I use a virtual credit card for physical purchases?
No, virtual credit cards are normally intended exclusively for online payments.
