Have you heard of virtual credit card? It is being used by more and more consumers, especially when it comes to internet security. Today, the vast majority of people make their purchases on the Internet and it was precisely to not only make this purchase safer, but also offer greater convenience that this type of card was created.
Many people do not even make purchases on the Internet because they are afraid of cloning, but with this card mode, this risk does not happen. So if you also use the internet to make your purchases, now learn all about virtual card, as it is only for this type of online shopping.
What is a virtual credit card
The virtual credit card is, as its name implies, the credit card is only used on the internet. When it came to Brazil, it started with LuBank, but today, several banks already make their cards available to their customers.
And unlike the physical card, it has a very small validity. And after this expiration date, the card is disabled. This is a security that consumers have to prevent theft of their data.
Virtual Credit Card Vs. Physical Credit Card
Of course the so-called ‘conventional’ credit card is still the most widely used, but this scenario is changing, mainly because people are increasingly using the internet to make their purchases. And that’s exactly where the virtual credit card comes in, as it will be generated at that time for that particular purchase. In addition, you will not need to enter all card data, such as number, expiration date, cardholder name and security code, as with the physical card.
At this point, people in bad faith act to steal card data. The site may not be secure or you are using an untrusted wifi network. And one of the most unpleasant situations is when you have your cloned card, but with the emergence of the virtual credit card, you will be much less at risk.
How Virtual Credit Card Works
In fact, as soon as the consumer applies for the virtual credit card, a temporary number is generated, most of which is valid for only 48 hours. After this period, it is no longer valid and if you want to make another purchase on the Internet, you must make a new request.
Now, to apply for one, you must already have a physical credit card and only issued by the bank or internet banking app. Just remembering that the limit value is the same as the physical card. But you don’t have to have your physical card in hand to apply. Suddenly you have left your card at home and want to buy something on the internet and thus the virtual credit card can be a great ally.
Benefits of Virtual Credit Card
Learn about the main benefits of virtual credit card:
- Greater security as it is hardly cloned;
- Convenience, because you don’t have to have your physical card in hand;
- No fees for issuance or maintenance;
- It is the customer who determines the validity;
- Lower risk of fraud, as each purchase generates a new number;
- Option to make purchases abroad;
- Earn points in reward programs.
If you realize, the big difference with the virtual credit card is security because you will only use it for that purchase and then it is invalidated. But it is very important to keep in mind that this is a credit card, so invoices should be paid on time and preferably you should be careful not to overextend your budget.
Speaking of invoice, to help you identify your purchases made with this card, they, in some banks, come with the at icon and the last 4 digits of the generated card.
It’s worth having a virtual credit card
If you frequently use the internet to make your purchases, it is worth having a virtual credit card, especially since your purchase will be much safer. But if by chance you don’t have one yet, you need to be very careful, such as checking if your site has that lock and that your device has an antivirus program installed.
So now that you know how important it is to be safe when shopping on the internet, just apply for your virtual credit card and enjoy all the benefits.