What is a virtual card used for?
A virtual card lets you pay online and on your favourite apps without ever having to take your card from your wallet or exposing your actual account information. You can create a virtual card on your Standard Bank app, load money onto it and use it for whatever you need.
How do virtual prepaid cards work?
Virtual prepaid cards are electronically produced and delivered. Once you have one, you can use it to make a one-off payment or for ongoing transactions. Once funded, the cards work much the same as a plastic card; you enter the 16-digit card number, its security code (CVV) and expiry date to make a payment.
How do I spend my virtual card?
A virtual debit card can be used just like you would use a physical bank card. In addition to online purchases, you can use a virtual card for contactless payments in stores by adding it to Apple Pay or Google Pay. Some even allow you to withdraw money from ATMs.
Is a virtual card safe?
Like a physical card, clients can use it online, but it’s safer than a physical card as no-one can steal or duplicate it. Clients no longer have to worry about lost, stolen or duplicated bank cards again. They can then use their virtual cards to securely make payments and purchase products online.
What is the difference between virtual card and physical card?
Virtual and physical credit cards serve the same purpose of making payments, with one basic distinction between them – virtual cards are only available for online purchases, while physical cards can be used in person as well.
Is prepaid card same as virtual card?
A virtual card is a card number that you can use online. It may be linked to a card you already have, just a new number for one time use. A prepaid card is an actual card that you can hold in your hand, with which you can spend no more than the amount paid into it.
Can you transfer money from a virtual card to bank account?
You can transfer your virtual Visa funds to your bank just like you would transfer them from a regular card. The Visa card has a card number, expiration date and security code, just like a plastic card. If the issuer allows transfers to bank accounts, you should be able to do that by logging in to your online account.
How can someone withdraw money from my account without my card?
All you have to do is choosing cardless transaction option and then the ATM machine ask you for account number followed by registered mobile number. An OTP will be sent to the registered number and after you enter that OTP , you can withdraw cash from your account without your debit card and PIN.