Virtual Credit Cards (VCCs) are a unique digital transaction method. They stand out from physical credit cards as they are exclusively for online use and eliminate the need for a physical card.
You need a credit card or bank account to obtain a VCC, as many banks issue VCCs with varying rules.
Obtaining a VCC online provides you with a temporary card number, CVV, and expiry date. These details are valid for a short period, enhancing the security of your online transactions.
Benefits of VCCs include:
- Increasing the security of online transactions.
- Reducing the risk of fraud.
- Being convenient for online shoppers.
- Eliminating the fear of losing a physical credit card.
- Providing the option to set the transaction limit at the time of card generation helps with cost control.
While VCCs offer numerous benefits, potential drawbacks must be considered. For instance, some users may be concerned about the inability to use a VCC for repeated transactions within the time limit. When deciding on VCCs for online transactions, it’s important to carefully weigh these factors against the benefits.