The world has evolved in terms of how we handle our finances. This is because digitization has made sure that almost all banking or financial services can now be done online. As a result, you don’t even have to leave your house to perform major financial transactions.
However, in today’s financial world, it is highly important to know that the less personal information you share online, the better. Hence, there is a need to use a secure and convenient way to handle online payments. One such secure method is the use of virtual cards for online payments.
This post is going to break down what virtual cards are, how they work, and effective ways to use your virtual card. Let’s get into it.
What is a Virtual Card?
A virtual card is simply a digital alternative to a physical card. We’ll break it down.
A typical virtual card comprises a temporary 16-digit card number, a CVV, and an expiry date— just like your physical bank card. The major difference between your physical bank card and a virtual card is that a virtual card resides in a digital wallet on your mobile phone rather than a physical wallet.
How do Virtual Cards Work?
The first thing to take note of is that you can only use virtual cards online or over the phone. Nevertheless, keep in mind that merchants process virtual cards the same way they process traditional credit or debit cards. You can use your virtual card to make online payments, in-app purchases, and other forms of payment where a VISA or MasterCard is acceptable for payment. Simply provide your virtual card details and let the payment processor do its job.
If you’re worried about the security of your online transactions, a virtual card presents the best solution for you. Most virtual cards have digital encryption to ensure that you enjoy safe and secure online payments. In addition, digital financial institutions like Changera offer two-factor authentication features to protect your funds and transactions.
Benefits of Using Virtual Cards
Virtual cards are popularly known to provide quicker payments. However, beyond speed, the following are some of the benefits you can enjoy with a virtual card:
- An additional layer of security to your online purchases and bill settlement.
- They’re convenient to use and maintain because they’re not physical cards that you need to carry around.
- They reduce the risk of someone cloning your card or stealing your card details.
- You can cancel them easily.
- They offer reduced transaction costs.
Effective Ways to Use Your Virtual Card
One good thing about virtual cards is how easy it is to track your spending when you use them. Here are some ideas on how to make the best use of your virtual card.
Shop Online Without Restrictions
With a virtual card like Changera’s EasyDollar card, you can shop online with confidence on your favorite websites. Also, you can be sure that your security and privacy are guaranteed while completing all transactions.
Set Smart Spending Limits
Virtual cards are customizable, making them very useful in setting financial goals. Take control of your budget by setting daily, weekly, or even monthly spending limits.
Using a virtual card is a good way to stay within your financial boundaries and avoid overspending.
Pay for Subscriptions
You can easily pay for subscriptions like gym memberships or streaming services with your virtual card. All you need to do is set up the card for specific recurring payments. Also, when you decide to end the subscription, you can easily delete the card details.
Online Bill Payments
Did you know that you can pay online bills with a virtual card? Yes, a virtual card like Changera’s EasyDollar card allows users to settle online bills like purchasing data, airtime, electricity bills, and so on.
In-Store Purchases
Yes, you can make in-store purchases with your virtual card. You can look for stores offering contactless payments and you’ll be sure to have seamless transactions.
Flight Ticketing
Gone are the days when people had to purchase flight tickets physically. Nowadays, if you have a reliable virtual card, you can purchase flight tickets on airlines’ websites or flight booking websites at the tap of a button on your smartphone.
Expense Tracking
If you often get lost in the paperwork of tracking your expenses, virtual cards are a lifesaver. You can use your virtual card to monitor your expenses in real-time. Tracking your spending habits through a mobile app helps you gain a better understanding of your financial habits.
Enhanced Account Security
Virtual cards provide an extra layer of security and privacy for your transactions. This is because of the digital encryption that is embedded in them. You can instantly terminate your card through your mobile app when you suspect any fraudulent activity.
Digital Wallet Integration
A virtual card allows you to seamlessly integrate your virtual card with digital wallets like Google Pay, Apple Pay, Samsung Pay, or even any of your Changera wallets.
High-Risk Transactions
Virtual cards are a safer choice for transactions with a higher risk of fraud or unauthorized charges. Although they may not be completely immune to fraudulent activities, they significantly reduce the risks that occur with such payment.
Enjoy Limitless Benefits with the Changera EasyDollar Card
Without a doubt, virtual cards are here to stay and it’s so easy to see why. The versatility that virtual cards offer makes them a preferred choice over traditional credit and debit cards. From shopping online to paying for subscriptions and managing your expenses, the benefits that virtual cards provide are unparalleled.
This is why you too should hop on the train of comfort that having a virtual card brings. Choose the Changera EasyDollar card as your virtual credit card and enjoy access to seamless payments all through.
Everyone deserves peaceful shopping, and that’s exactly what we offer at Changera. Download the Changera app from the Google Play Store or the App Store to get a virtual card today.
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