A virtual card is similar to your physical card; the only difference is that it lives in your phone and digital wallet. Virtual cards are the new trend in finance and easy payments. Instead of carrying loads of cash or a physical card that you could easily lose, virtual cards are a convenient way to make your payments.
Besides that, a virtual card has great encryption, ensuring your money is safe. It’s a convenient way to make payments online, even internationally. Another good thing is that you can get an instant virtual Visa card upon applying for one with a reliable provider, with no lengthy waiting. Thus, you get set up as quickly as possible and start making international payments securely.
To use your virtual cards properly when making international purchases, consider the following tips:
- Where to use your card
- Choose a virtual card provider
- Ensure your safety
- Adding funds to your card
- How a prepaid card works
- Link your card to your phone
- Conclusion
1. Where To Use Your Card
You can only use your virtual card for transactions over the phone, online shopping, and in physical stores that accept Google or Apple Pay. Other instances you can use your virtual card include:
- Spending on online gaming networks
- Contributing to crowdfunding
- Subscribing to popular providers like Netflix
- Buying software in application stores
With the above options, you can easily make international payments using your virtual card. To use your virtual card for payment, you must confirm that the country you’re remitting cash to allows international virtual card purchases.
2. Choose A Virtual Card Provider
Remember, not all banks have the ability to give you a virtual card through a browser extension, a separate app, or directly through your physical card. Hence, to easily make your international purchases, ensure you can generate a virtual card from your provider.
Contact the customer care office of your card provider and find out if they have the virtual card option. After that, you can learn how to set up your digital wallet or virtual card. Additionally, know if there are charges for international purchases to ensure you always have sufficient funds before initiating a purchase. If you’re running your own business, you need to cut overhead costs, such as the transaction costs of international payments. So, ensure you pick a card provider with low charges and quality services.
3. Ensure Your Safety
Although virtual cards give you an additional security layer that masks your physical card number with a temporary one, the card isn’t fraud-proof. Hackers could still access your active temporary card number and make transactions.
Your card provider gives you fraud protection like that for your physical card. Nevertheless, you must be vigilant with your virtual card and who knows your phone access password. Moreover, ensure you set a spending limit for your card to ensure you won’t lose much in case of hacking. Remember to dispute early if you notice fraudulent charges and change your temporary card number that has been exposed.
4. Adding Funds To Your Card
To use your card, you must upload funds into it first. This can be through a local debit or credit card, bank transfer, or other allowed methods. These uploading methods work for your first use and when you need to add funds.
5. How A Prepaid Card Works
You can have a global prepaid virtual card. Once you’ve signed up with a provider, you need to get verified. Verification isn’t tricky or lengthy; all you need is a scanner. Your provider will ask for some specific documents you need to scan and send.
These documents verify your contact number, residential address, and identification documents to prevent fraudulent persons from accessing your account. Once verification is complete, you can use your money through the virtual debit card by simply uploading money using the allowed methods, like a bank transfer. Now you can use your virtual card to make international purchases.
6. Link Your Card To Your Phone
A virtual card is a secure way to make your international purchase online. Today, with the help of Apple Pay and Google Pay, you can even make payments while offline as long as you add your card to the digital wallet on your phone.
Chances are, you always leave with your phone in your hands, unlike your bag. Hence, ensure you link it to your phone so you can use it anytime, anywhere. With this, you can make secure contactless phone payments that you can do at your convenience.
Conclusion
Virtual cards allow you to make international payments easily nowadays. With your phone, you can make contactless in-store payments that will be charged to your virtual card with a unique number and expiry date. A virtual card makes international payments convenient, secure, and fast. You don’t even have to visit the bank to exchange currency constantly. Hopefully, with the above tips, you’ll be able to use your card properly when making international purchases.
Disclaimer: MoneyMagpie is not a licensed financial advisor and therefore information found here including opinions, commentary, suggestions or strategies are for informational, entertainment or educational purposes only. This should not be considered as financial advice. Anyone thinking of investing should conduct their own due diligence
