Read Our Loan Terms

The Virtual Credit Card: How Does it Work?

As we usually say, safety is first and foremost, and it applies to all things in life. With the place occupied by the internet in our daily life, when we know that 6 out of 10 people have already bought on the internet, security has become paramount to keep our data safe and avoid fraud. The emergence of the virtual credit card allows this security, but how does it work?

Virtual credit card: what does it consist of?

The virtual credit card makes it possible to pay securely online. As the name implies, you use virtual data for each transaction.

The virtual credit card works exactly like a normal credit card and has the same features:

  • Cryptogram (CVC)
  • name of the card holder
  • Expiration date
  • Card number

The main difference with the traditional credit card is that every time you make a purchase on the internet, the virtual credit card provides you with a credit card number, expiration date and a different cryptogram. The system is very easy to use. Either the bank gives you virtual numbers that you can use during your purchases or you access a software or website that will provide you with different data with each access.

Many advantages

The virtual credit card number provided to you replaces the actual number of your physical credit card and is never transmitted to merchants. This increases the level of security during your payment since it is impossible to hack your card number since it is temporary and it is never seized.

Another advantage is that there is no need to move to find your credit card. Everything happens in front of your screen in a secure and fast way. You enjoy the same benefits as a normal credit card while maintaining a high degree of confidentiality.

A major disadvantage is that when you generate the virtual credit card number, it is associated with an amount to pay. It is therefore important to enter for each new virtual number a correct associated amount.

Once this payment system is adopted, your payments on the internet become even more secure. It is impossible to be a victim of fraud. As is often said, “prevention is better than cure” and you are never protected enough. If you want to find the best credit card offering this advantage, do not hesitate to use our comparison platform.