Virtual card account – A savior for online spending

An increasing number of people are falling prey to credit card fraudulency every year. It is being estimated that more than 20% of these people blame online exchanges for such accidents and is perhaps the reason why people go away from shopping over the internet. Virtual credit cards, which offer controlled numbers for payments have been in existence for nearly seven years and are gradually picking up in fame, permitting people to shop freely without the fear of theft of their personal details.

Virtual card account comes with payment cards, which can be used for shopping or making payments over the internet. These cards provide the protection that consumer's desire as they are provided with security for every exchange they make, online. These cards are issued by significant brands like MasterCard, Visa and real keeping money associations. They are like online gift vouchers and absolutely eliminate any possibilities of fraud.

These cards are comparative in nature to regular cards with the exception that they must be used online. The accounts associated with the card are funded online and consumers intending to shop online use the number of their virtual card, generally as they would in regular circumstances. Virtual credit cards are essentially pre-paid cards with no line of credit being made available on them. The user should open an account and store the same before they are able to use the card. Some issuers permit financing of the account with a variety of methods, while others will just do as such with a regular credit or debit card.

The application process for a virtual card account may differ starting with one provider then onto the next. However, the fundamental requirements remain the same. An application available on the card website will have to be completed separated from downloading the security software to the personal computer or tablet, which is being used. Fees applicable for enactment of the card and the account will be debited, once supports are received surprisingly. Month to month maintenance charges will likewise be applicable.

There is absolutely no restriction on any merchants for accepting virtual credit cards. However, it must be remembered that these cards must be used online and can't be carried around like a regular card. The merchant will not the slightest bit be able to comprehend whether a consumer is utilizing a regular credit/debit card or a virtual card. They will have no access to any information about your card and account when you use the card online.