virtual credit card

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virtual credit card

A temporary credit card number that is used to make online purchases one time only or for a limited amount of time. Virtual credit cards such as Bank of America's ShopSafe and Citibank's Virtual Account Numbers provide extra security because the same card number is not being used online over and over again.

More a Nuisance than Financial
Although credit card companies reverse fraudulent purchases, people often have many recurring charges paid by the same card number. When that card is compromised, users have to manually update the data for all the recurring charges. See digital wallet and autopay.
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Apiso works with back-end financial services providers that are members of the global payment schemes to automate the provision and administration of virtual cards for B2B supplier payments across multiple industry segments.
The Virtual Card Receivables Service will aggregate information from Mastercard Issuers related to Virtual Card payments by their corporate customers and compile it into one comprehensive file, available in a digital format that is preferred by suppliers, including Microsoft Excel and CSV.
Leading international FinTech company, Conferma Pay, is the world's foremost provider of virtual card technology.
HSBC has launched virtual cards for its corporate customers in Egypt.
The discussions have also only focused on a single virtual card type as being representative of all virtual cards.
It uses application programming interface (API) to enable commercial purchasing clients to connect directly to the bank's virtual card system.
Points earned are consolidated in a single rewards wallet which comes with a virtual card powered by PayMaya, the leading digital payments wallet in the country.
UBL's Virtual Prepaid Card stands out from the competition, since it provides its account holders the flexibility to call-up the Contact Center or log-on to their internet banking at any point in time 24x7 and get their virtual card in less than 10 minutes; without any hassle and requiring no paperwork or documentation.
Commenting on the successful roll-out of this unique service, Sharjeel Shahid - Group Head Banking Products, said; 'The UBL Virtual Card is for anyone and everyone who is looking for convenience, safety and security when going online to shop at their favourite website or to make payments.
Around 65 million users of the MobiKwik wallet will gain access to an IDFC Bank virtual card embedded within the app, making digital purchases at all e-commerce merchants easier and faster.
ISLAMABAD -- Faysal Bank Limited (FBL), one of the leading banks in Pakistan, has become the first commercial bank to launch a virtual card in the country.

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