I have been hearing about virtual credit cards. What is a virtual credit card and how does it work?
I am taking a lot of time and pain to explain this 
But, no seriously, I also felt a bit overwhelmed when I first heard the term virtual credit card. Turned out a virtual credit card is a temporary digital version of your credit card that banks provide you until your traditional physical card arrives.
You can use it for online transactions for a specific period, just like you would with a normal credit card. Virtual credit cards come with a unique card number, CVV and expiration date.
Banks automatically generate it and send it to your registered contact details so you can use it wherever you want. The best part is your credit card details remain safe, secure and private with a virtual credit card.
Let me show you a table so it’s easier to see the differences between the two cards:
| Parameters | Virtual Credit Card | Physical Credit Card |
|---|---|---|
| Format | Comes with a card number, expiry date, and CVV. | Comes with a traditional chip, a magnetic strip, and a card number. |
| Expiration | Short-term (expires quickly, usually after a single or limited use) | Long-term (valid for several years until renewal) |
| Usage | Online transactions only via bank’s app or website | Online and offline transactions (requires the physical card) |
The process is to use it is so simple:
- First, choose the product or service you want to buy.
- Then, hit the “Buy Now” button.
- Enter every detail on the payment gateway.
- Enter the OTP to validate the transaction.
The payment will reflect instantly on your virtual credit card statement.
I hope you will find this helpful. Let me know if you have any more questions.