How To Use A Virtual Card

The use of a virtual card as a payment method is a great way to master your finances. A recent study shows a huge jump in virtual card use. In just five years, the number of virtual card transactions is expected to skyrocket from 28 billion to over 121 billion worldwide. That's a massive increase!

Even though virtual cards are becoming super popular, many people still don't know how to use a virtual card. While they offer numerous benefits, understanding how to generate, use, and manage them can be confusing for some. This is often due to a lack of clear instructions or a general unfamiliarity with digital payment methods.

Fortunately, once you understand the basics, using a virtual card is incredibly straightforward. They're designed with user-friendliness in mind. This blog will walk you through everything you need to know about how to use virtual cards to protect your finances and simplify your life.

What is a Virtual Card?

Virtual cards are digital payment cards with no physical form. They are created electronically and designed for online transactions.

They may be linked to a physical card or a bank account, but they are represented digitally with all the features of a physical card. This includes the 16-digit number, a CVV code, an expiration date, and a PIN code. 

Virtual cards can be issued by a bank, financial institution, or payment service provider (PSP). They are generated through secure online platforms or Mobile Apps.

How To Use a Virtual Card

Virtual cards offer a secure and convenient way to shop online. Unlike traditional cards, they provide an extra layer of protection for your finances. Once your card is ready, you can use it to make purchases at your favorite online stores. It's that easy! Let’s learn a few steps to using a virtual card…..

Obtain a Virtual Card

Most virtual cards are issued through financial institutions or digital wallet apps. Follow the specific instructions provided by your issuer to create a virtual card. To create a Bitnob virtual card:

• Tap on “Cards” on the Quick Links section of the homepage
• Click on “Create a new virtual card"
• If you’ve not done your KYC, you’ll be requested to complete your KYC.
• Customize your card by giving it a name and changing the color you prefer.
• Enter the amount you want to fund your card with then tap on “Next Create Card”. You can top up a minimum of $3 and a maximum of $5,000.
• Personalize your card then tap on ‘Next - Confirm your transaction pin’
• Enter your transaction pin

Voila! You’ve successfully created your virtual dollar card and funded it. It’s now all set and ready to use. 

Understand The Card Details

Understanding your card details is an important aspect of how to use a virtual card. Your virtual card will have a card number, expiration date, and CVV (Card Verification Value). Keep this information secure and do not share it with anyone. 

Make Online Purchases/Subscribe to Streaming Platforms. 

You can use your virtual card for ordering clothing to electronics, online stores offer several products for every need, or whether you're a fan of streaming movies, TV shows, or music, Here's how you can use your Bitnob virtual card to make these purchases:

• Log in to your streaming account and navigate to the subscription settings/ Add the desired items to your shopping cart on your favorite websites.
•  Choose the plan/desired items you want and proceed to the payment section.
• Enter your Bitnob virtual card details, including the card number, expiration date, and CVV code
• Sit back and relax, knowing your payment was securely processed with your Bitnob virtual card.

Manage Your Card

You can manage your card by keeping track of your spending by reviewing your transaction history. Set spending limits or expiration dates as needed. You can easily freeze your card if you suspect any fraudulent activity. 

Bitnob: The Best Virtual Card For You

Creating your virtual Visa card on Bitnob costs a one-time fee of $1, and each time you top-up your card, you will be charged $1 if the amount is less than $100, and 1% of the top-up amount is equal to or greater than $100. Also,  The Bitnob virtual card was designed to consider factors like security features, budgeting, and convenience.

With it, you can conveniently shop and pay for subscriptions on global sites or platforms, you can top up the card with a minimum of $3 and a maximum of $5000 at a time and this can help you manage your finances. It’s easy to create and can be used within minutes directly from athe bitnob App. 

All you have to do is download Bitnob and you will find it easy to navigate to having your virtual card. Don’t enjoy this information alone. Share with your friends and loved ones.