(Newswire.net — October 26, 2020) —
There is too much plastic in the world today. This is a fact that has been reflected by everything from the great purge of plastic straws to the 5p bag tax. But what about our debit cards? Is it time to ditch the plastic in our wallets entirely and go completely virtual with our money? Here, we’ll be uncovering how virtual prepaid cards can be used to ensure you never need to worry about forgetting your wallet again!
What is a virtual card?
In essence, a virtual card works in the same manner as a plastic card, only it doesn’t exist in physical space and it isn’t linked directly to your bank or credit account. Instead, it uses a secure online account and can be accessed either by using your smartphone in the ‘real world’ or using a unique 16-digit number online. With a prepaid virtual card, the idea is that you load credit onto it as you would put money into a bank account. That money can then be spent freely anywhere that accepts debit or credit cards.
What are the benefits?
No debt – As you can only spend what is actually on your card, there is no way you can fall into debt or lapse into an overdraft. If you run out of money, simply top it up! A great way of managing spending.
Protection – An online virtual payment card can’t be lost or stolen and as it’s not linked directly to any bank or credit facility it’s significantly more secure when being used online too. This makes it the perfect option for careful shoppers.
Versatility – You can use it for contactless payments through your smartphone, online as you would a conventional debit card and in some cases through a bespoke app.
Simple – It’s incredibly easy to apply and you can check your balance online at any time either from your computer or smartphone. Indeed, you could quite possibly set up a virtual card account in a matter of minutes and be ready to spend it right away.
Shopping abroad – It’s commonplace for holidaymakers to apply for a prepaid virtual card to take on holiday abroad with them, as there are zero conversion fees. In fact, this might be the USP when it comes to any prepaid card. As it’s virtual, however, as long as you have your phone on you at all times (and who doesn’t) then you’re good to go, wherever you are in the world.