Virtual cards—what are they and how do they work? (2024)

FAQs

What are virtual cards and how do they work? ›

Virtual credit cards are digital credit cards that function like physical credit cards—but without the plastic. Rather than providing the same card number to multiple vendors, companies can limit their exposure to potential fraud by generating different 16-digit card numbers and expiration dates for each transaction.

Make a purchase with your virtual card

You can use your virtual card when you shop online or in apps. When you check out on a website or make an in-app purchase: Choose the virtual card from your payment method options. Let Chrome or Android fill in the payment info automatically.

A Virtual Visa Reward Card is a prepaid Visa, complete with unique numbers, that is delivered instantly via email. It can be used anywhere that Visa is accepted, both online or by phone.

Virtual Debit Card cannot be used for Cash Withdrawal.

Virtual credit cards offer an extra level of security against criminals attempting to steal information via insecure connections or data breaches. If the account holder needs to cancel their card for any reason, a virtual credit card can make the process much easier.

How much do virtual cards cost and how do virtual card companies make money? Some virtual card providers charge fees for every card you create or a monthly fee to use their service. Other virtual card providers may also charge fees for each purchase made with the cards.

Open your virtual card account on its app or website. Look for a Transfer money or Send money option on the dashboard and tap it. Select one of the bank accounts you want to withdraw money to or enter the bank account number and other required details manually.

The virtual card has its own unique card number, different from the physical card. Can I add money to my account using my virtual card? You'll need to wait until your physical card arrives to withdraw or deposit cash using our network of ATMs.

Enter the card number, CVV code, and expiration date in the relevant fields. Provide your billing address (if prompted). Complete the purchase.

Is virtual card worth it? ›

A virtual credit card may be better if you want added security when shopping online or want to set spending limits. If you want convenience and rewards, a traditional credit card may be the way to go.

Virtual credit card gift cards are normally not able to receive money. The only exceptions are usually the initial purchase and when you create the account online it sometimes asks you if you want it in a wallet (where you combine two or more of the same type of card).

Virtual Debit Card - SBI, PNB, HDFC, and ICICI Banks. Virtual debit cards are an innovative form of card which allows for all kind of card based transactions which is to be completed online.

Virtual cards can be used online, over the phone, via an app, and anywhere you or the merchant can key in the 16-digit virtual card number. Simply plug in your virtual card details and let the payment processor do its job.

What's the difference between a virtual and a physical debit card? Virtual debit cards are like regular debit cards, but digital and issued by banks. They're more secure than traditional debit cards and offer more privacy. They allow for quick and easy payments anytime, anywhere, without carrying a physical card.

Even though a virtual card isn't a permanent replacement for a physical card, it still may be a good idea to use one as protection from fraud or as an emergency backup in case you lose track of a physical card.

Using a Virtual Card at Physical Locations

Keep in mind that the virtual card must first be added to a digital wallet that enables NFC transfers, like Apple Pay or Google Pay. Once you load your virtual card to the app, place your smartphone over the merchant's terminal to complete the transaction.

The difference between a physical card vs virtual card

A traditional credit card shows your account number, CVV code and expiration date clearly printed on its front and back. A virtual credit card exists only in digital format, without a physical presence.

Virtual credit card gift cards are normally not able to receive money. The only exceptions are usually the initial purchase and when you create the account online it sometimes asks you if you want it in a wallet (where you combine two or more of the same type of card).