With rapidly evolving technology, using credit cards online has become increasingly popular. This option allows you to shop online, pay EMIs, and manage other transactions with just a few clicks.
While you may be familiar with physical cards, another option you can consider is the virtual credit card. Simply put, it is a digital version of a credit card with an added layer of protection.
To decide whether this is a good option, understand what these cards are and how they benefit you.
Understanding How Virtual Credit Cards Work
You can use a virtual card to execute online credit card payments. However, what differentiates it from a physical card is a disposable number, which is crucial when carrying out transactions.
When you opt for a virtual card, the issuer generates a card number with an expiration date and a security code. This added security feature protects against fraud. How? Simply because these details are valid only for a specific transaction.
While you can link your virtual card to your credit card account, you can also easily delete, change or even lock it whenever you want to. Remember, this will not affect your ability to use the account.
When executing online credit card transactions, simply provide your virtual card details and manage your purchases seamlessly. However, check with your card issuer to see if they offer virtual cards to avoid last-minute hassles.
Advantages of Virtual Credit Cards
Here are all the benefits you can enjoy with a virtual credit card.
Enhanced Security Measures
The primary reason to opt for a virtual credit card is its heightened security features. When you share your physical credit card details on a payment portal, there is a high risk of theft and fraud.
Since the virtual credit card information is disposable and can be used only once, it protects you from such risks. This way, no one can reuse your credit card information to make unauthorised purchases or payments.
Lower Payment Risk
When making online credit card payments using a physical card, you must share your card number, expiration date and CVV number. If hackers try and steal your information, they can make purchases using the card.
For this precise reason, virtual credit cards are a more reliable option for online payments, as you do not have to share these card details. This is especially important when you are unsure of the security measures on the payment portal or merchant website.
Better Budget Control
As a credit cardholder, having a tight leash on your spending is essential, as you have to pay for everything you spend. If you can’t pay on time, issuers will levy interest and late payment fees.
This is where a virtual credit card can be a helpful option. You can set predefined limits for every transaction or for a specific timeline. This helps you manage online services, subscriptions and recurring payments effortlessly, giving you better control of your spending.
Convenient Shopping Experience
Another reason to opt for a virtual card is that you can make payments easily when you don’t have your physical credit card at hand. Simply visit your issuer’s website or mobile app to generate your virtual credit card. You’ll get the details instantly to execute transactions conveniently, giving you an unrestricted shopping experience.
Simple Onboarding
To get a virtual credit card, you don’t have to meet any stringent eligibility criteria or follow a digital application process. All you need to do is to log in to your issuer’s website or mobile application and select the option.
After following the instructions on the screen, your virtual card will be available for instant use. What’s more, most issuers don’t charge additional fees or charges, so this is an added feature of your credit card.
Comprehending these benefits for your day-to-day payments helps you avail yourself of a secure, convenient, and flexible option for digital payments. With the One Credit Card, you can enjoy the best of both worlds with an instant virtual credit card and a smart metal credit card.
Upon receiving your kit, you can activate your virtual credit card in 5 minutes and use it for online payments. Once you receive the metal credit card, you can enjoy making secure offline payments.
In addition to exceptional security, you can earn up to 5X reward points to elevate your shopping experience and savings. With its powerful app, you can easily manage your expenses, bills, rewards, and more, giving you the confidence to spend wisely. Apply online to simply use your credit card and enjoy a relaxing experience.
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