How do they work and why are they a safe option for online shopping? Here's what we tell you.
Most people today, we make online purchases or payments for various services. We prefer to make transactions with our bank account through a device although this represents a threat to our bank account. The virtual cards were born with the purpose of protecting the users online.
What are virtual cards?
A virtual card is a payment method similar to traditional credit cards but in digital format, ie not physical. It's that simple. Virtual or prepaid cards have a card number, expiration date and security code, data that shopping websites request from the consumer to process a transaction.
Virtual cards have a method more like debit cards, if there are not enough funds on the card, the purchase cannot be completed successfully, unlike traditional credit cards. They work independently of bank accounts, which means that your valuable account information will not be compromised online as it will not be linked to your virtual card.
What are the advantages of virtual cards?
Considering the risks of traditional credit cards, we identified why virtual cards are a safe option:
1. To avoid losses. Traditional cards are commonly loaded in our wallets and can be easily lost or stolen by criminals. This implies a cancellation process through our bank as well as the high possibility of someone making purchases with it while the blocking is being done. With virtual cards, this does not happen.
2. Purchase limit. The virtual cards, allow the user to manually charge the funds he wants to spend as they are not credit as such or to set a limit. This means that we can only spend the money we have charged to the account, which will avoid excessive spending when browsing and buying in the great range of products offered on the Internet.
3. They are independent. This means that they are not directly linked to your bank account, therefore, if a third party has access to your virtual card, they will not have access to your finances, only to the funds you have charged to it.
4. Prevent your bank account information from being compromised. As a separate option from credit cards, you will avoid sharing your information online with the sites where you want to make purchases, keeping your finances safe,
5. Immediate management. The administration of the virtual cards is done online, which makes the management immediate either for certain configurations, to pay or to recharge the balance.
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