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Bank cards are firmly embedded in our lives. With a card, it has become easier and safer to get paid, pay at the store, and make money transfers to relatives in other cities or countries. However, along with bank cards, a new type of Internet scam - phishing appeared. To save the money of their customers, many banks began to offer virtual cards for online payment. What is a virtual card? A virtual card is a bank card required to make purchases and pay for services on the Internet. A virtual card, most often does not have a plastic carrier, is available only in electronic format.
Some banks are customer-ordered virtual cards are duplicated with plastic media. However, you can’t still pay with such a card in a regular supermarket or withdraw money from an ATM. The virtual card does not have signatures of the holder; magnetic strip or protective chip; holograms.
When shopping online, people often print a special security code located on the inside of the card. This code can fall into the hands of scammers who can easily transfer money to their account. A virtual card is valid for short-term cash transactions. In addition, most of these cards are designed for a small amount. That is why it is considered more protected from intruders. The first bank card appeared in the United States in 1946. Then, it did not have a plastic format and was a debt receipt, according to which a borrower could receive money from a debtor's account in a bank.
Cash transactions with a virtual credit card are made in the same way as with a regular plastic one. When paying in the online store, in addition to the card number, you need to enter a special code. For virtual cards of the MasterCard system, this code is called CVC2. Learn more about virtual cards and other types of cards in the detailed answers here https://ezzocard.com/faq.
A huge advantage of virtual cards over non-bank payment systems is the ability to pay for online purchases around the world. A virtual card does not have to wait long as a nominal plastic. To make a purchase, the customer needs to receive only the card data. Most often, the details come via SMS on the day of treatment. A virtual card is safer than a plastic one. The client can limit the amount or use the card for a one-time purchase.
Optionally, you can get a simplified (prepaid) card, which does not require the client to open a deposit. The details of such a card do not indicate the personal data of the card holder. This feature helps make the purchase anonymous.