Debit cards are a convenient way to pay for things, but the sad truth is that you take a risk every time you use them. There are numerous ways for criminals to clone or pull information from your card.
However, those issues mostly apply to physical cards. By using virtual debit cards, you can avoid many of the risks associated with physical cards.
Virtual debit cards function just like physical cards: you add money to the relevant account, you get a card number and expiration date, and so on. They have many advantages over physical cards, though.
Read on to learn five reasons you should try out a virtual debit card.
1. Improved Security
The biggest issue with standard debit cards is the possibility of fraud. Unscrupulous people can memorize your card number or clone your card data to make unauthorized purchases with your money.
Criminals can’t see your virtual card or swipe it from your pocket. Purchases you make are secure and encrypted, and even if someone does manage to obtain your card info, you can cancel it right away.
2. Never Lose Your Card Again
Have you ever lost your wallet or forgotten your debit card at a restaurant? It’s always a hassle–you waste time looking for it, then you have to call your bank to cancel the card, and then you have to wait for a new one.
With a virtual card, that’s no longer an issue. There’s no plastic card to keep track of; as long as you can access a computer or mobile phone, you’ll know exactly where your money is.
3. Cancel Any Time
Banking can be complicated. Moving money and closing accounts often takes longer than you’d like; the same goes for canceling debit cards. If you lose your card in the evening, you might have to wait until the next day to cancel it.
Virtual cards offer you more immediate control over your money. As soon as you’re done with a card, you can cancel it–even if you’ve only used it for one purchase.
You can use a virtual card at the press of a button. You no longer need to waste time flipping through cards in your wallet when shopping online; virtual cards are simpler, faster, and perfect for shopping on your mobile phone.
These debit cards are particularly useful in corporate settings–your business can use them to simplify per diem payments and vendor management.
5. Set Spending Limits
One reason these cards are so good for things like per diem is that you can set specific spending limits. In other words, you control exactly how much money is on the card, preventing overspending.
Whether you need to set a limit for business purposes or just to keep yourself accountable, it’s a great feature!
Enjoy the Benefits of a Virtual Debit Card
A virtual debit card offers all the ease of using a plastic card while being significantly more secure. While you may not be able to use a virtual card for in-store purchases, it’s the perfect tool when shopping online.
Virtual debit cards are only one example of how technology is improving our lives. Visit our technology blog for the latest information about mobile phone apps, digital marketing tools, and more.