Did you know that over 14% of consumers used their debit cards more frequently during the pandemic? Consumers also used their debit cards for online purchases more often than in the past.
But if you use a debit card there’s a good chance you’ll lose it at some point. Or even worse, have your card stolen. Did you know you can create a virtual debit card?
The following guide will explain why you should create an instant virtual debit card. Read on to learn about the benefits and why this method produces the best debit card experience.
What Is a Virtual Debit Card?
A virtual debit card works the same as a regular debit card but has no physical form. Virtual cards also use a 16-digit account number.
A virtual debit card doesn’t have the same security limits that a traditional card has. Virtual cards generate a special number every time you make a transaction. It protects your real account number from being exposed.
Virtual cards are typically used only once. So, if a company you’ve shopped with falls victim to a data breach you don’t have to panic. Your actual account number isn’t compromised even if your card number is retrieved.
Using virtual debit cards offers much more versatility. You can make new card numbers for certain stores and change the number anytime. You can set limits and delete or lock numbers without affecting your primary account.
Currently, you can only use virtual cards online and sometimes over the phone. If you link your card to Apple or Google payment platforms you can use it at certain physical stores.
How To Create a Virtual Debit Card
A lot of popular card issuers offer some type of virtual debit card. However, you’ll need to have a physical card with them before getting a virtual card.
The process usually involves logging into your account through the web or an app. Then, look for Virtual Credit Card or Virtual Card Numbers options under settings.
Next, you should be able to create a temporary card through the card company’s site or app. Keep in mind that you might need to download a specific app to use your virtual card.
You can adjust some settings and start making online purchases once the card is created. If you don’t have a current card company, consider options such as https://bentoforbusiness.com/features/virtual-debit-cards/.
Virtual debit cards are a great way to make international payments safely. They’re also perfect for parents who want to set a spending limit for their children.
Not only are these virtual cards safer online, but they also eliminate the chance of physical theft. Last but not least, they’re better for the environment than traditional plastic cards.
Ready To Make a Digital Debit Card?
Now you know how to create a virtual debit card and why they’re beneficial. Virtual cards are safer, convenient, and offer a ton of flexibility. Remember this guide when making your next debit purchase and consider going virtual.
Check out the rest of our blog for more great finance tips and other fascinating information.