Explore Disposable Virtual Cards for Safe Online Transactions

While technology has ramped up the online payment of goods and services, it has also brought about cybercrime. Fraudsters can get hold of your credit or debit card information and steal your money. To protect your funds, you can use a single-use virtual card, also called a disposable virtual card. Several banks and fintech companies offer disposable cards that allow you to easily use new card details for each transaction. This article will explain what disposable virtual cards are and how they work. You’ll also learn how to get one to protect your money online.

What is a Disposable Virtual Card?

A disposable virtual card is a digital card designed to transact online and can only be used once. Once you have transacted with the virtual card, those card details cannot be used again. Just like the name suggests, it is not a physical card, but a digital card. Disposable virtual cards are also known as single-use virtual cards because they can only be used once to pay.

Benefits of Disposable Virtual Cards

The following are some of the advantages of having a single-use virtual card:

• Reduced fraud risk: Your actual card details are never exposed to merchants, minimizing the risk of skimming or data breaches.
• One-time use: Each transaction creates a unique card number, limiting the potential damage if any one instance is compromised.
• Enhanced privacy: Transactions are less traceable, making it harder for third parties to track your purchasing habits.
• Reduced recurring billing risks: Use single-use virtual cards for trials or subscriptions to avoid forgetting to cancel and prevent unwanted charges.

Disadvantages of Disposable Virtual Cards

While disposable virtual cards offer distinct advantages, they also come with some limitations and potential drawbacks to consider before getting one:

• No physical card: You can’t use disposable virtual cards for offline purchases or at ATMs.
• Restricted acceptance: Some merchants, especially smaller ones or those requiring card verification, might not accept virtual cards.
• Limited rewards: Compared to regular credit cards, disposable virtual cards typically don’t offer cashback, points, or other reward programs.
• Management complexity: Keeping track of numerous, single-use cards can be cumbersome, especially for frequent online shoppers.
• Lost funds: If you forget about a disposable card with remaining funds, the money might expire unused.

How Does a Disposable Virtual Card Work?

A disposable virtual card works just like a normal virtual credit card. The only difference is that a virtual disposable card is not a physical card. It is a secure way of making payments since it does not leave a trace of your banking details.

A disposable virtual credit card has a 16-digit unique number, expiry date, and card verification number. However, unlike a normal virtual card which you can use several times to make payments, a disposable virtual card can only be used once. Once you have made payment with it, the card cannot be used again.

There are disposable virtual cards for both individuals and corporates. Businesses that are often making online purchases can consider getting disposable virtual cards. A disposable virtual card can be used where merchants accept online card payments.

Disposable Virtual Card Providers

The following are some of the providers offering the best disposable virtual cards. These providers offer disposable cards on the go, often as easy as a click in the app, or even automatically. Some also provide browser extensions that can populate disposable credit card details on a website automatically when required.

Revolut Disposable Virtual Card

Revolut offers virtual cards you can keep for recurrent payments, as well as disposable or single use virtual cards. You can get free disposable virtual cards with Revolut’s free Standard plan, credit card details such as the digits, date and CVC for the disposable cards are automatically generated for each transaction. You can renew your disposable virtual card after use. Not only that, but you can also get a refund for something you have purchased.

To get a Revolut single use card, you have to use the Revolut app, go to the cards section, and tap + Get Card. Then select a virtual debit card. Then select a single-use virtual card and you can start using it. Do note that you can’t use the card for recurring payments such as subscriptions or to make payments that require pre-authorization, although users have confirmed the latter is possible sometimes.

Revolut offers full account services to legal residents of the European Economic Area (EEA), Australia, New Zealand, Singapore, Japan, Brazil, Switzerland, United Kingdom, and United States.

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NetSpend

NetSpend is a disposable virtual card provider in the US. You can generate up to six numbers in a day. You can also delete each subsequent number you have created. Furthermore, you can use the disposable virtual card for online and mobile transactions. However, it can only be used to make payments to merchants that accept VISA cards only.

Netspend’s services are primarily focused on the United States and are not directly available in most other countries.

Capital One

Capital One can also help you generate a disposable virtual card in the United States. To generate the card, you can use the Assistant Capital One extension available on Mozilla Firefox, Google Chrome, and Microsoft Edge browsers. You can generate new and control your disposable virtual card. You can create a new card within a few seconds and use it right away.

Privacy.com

Privacy.com is one of the popular disposable virtual cards in USA. Its disposable virtual payment cards minimize the amount of personally identifiable information. Notably, the virtual cards are completely free to use when you use a bank account as a funding source. The company makes money off the fee that the merchant pays for accepting a debit or credit card. Privacy keeps your personal information private, while being more convenient than using a physical payment card online.

Once you have signed up for an account, you can start creating Privacy.com virtual cards. Locate My Wallet and you will see all the cards that have been created. You will also see a link to create a new card. To create a new card, click on the link. You can use the cards to meet recurring expenses like Netflix, Spotify and iTunes.

Currently, Privacy.com is only available online to legal residents of the United States. You can apply for an account online in as little as 3 minutes by providing some basic personal information such as name, date of birth, phone number, valid email address, and current address.

Citi

Citi offers disposable virtual cards in the USA. They are accessible to all Citi card users. You can control the Citi disposable virtual card using the Citi app. For instance, you can lock the card using the app. You can also view your transaction on the system. You can also boost card security by setting a payment limit and validity period.

Enkash (India)

Enkash is a spend management platform that offers single-use virtual card for businesses in India. You can use it to automate your business payables, digitize receivables and manage expenses.

Enkash uses a virtual card API system that helps you make payments without disclosing your business banking details. Their virtual cards help you spend conveniently and secure your business funds. It is a good option for prepaid disposable cards in India.

State Bank (India)

State Bank’s internet banking platform now offers virtual cards in India, a convenient and secure alternative to traditional online payments. These digital cards are designed for single-use, expiring after 48 hours and safeguarding your primary card information.

Creating a virtual card is straightforward within the familiar internet banking interface. This one-time card, valid for a single transaction, minimizes the risk of unauthorized access even if your details are compromised.

State Bank further bolsters security with real-time SMS authorization for each transaction. A confirmation request is sent on your registered mobile phone, ensuring you’re aware of and in control of every purchase.

Kotak Netcard (India)

For those seeking a secure and limited-scope solution for online purchases, Kotak Mahindra Bank offers the Netcard. This single-use virtual debit card serves as a convenient and secure alternative to traditional card payments for online shopping experiences.

The Netcard operates within the familiar online banking platform of Kotak Mahindra Bank. Users can readily generate the card directly through their net banking account, drawing funds from their primary account for the desired transaction amount.

Crucially, the Netcard is designed for single use. Once created, it retains validity for a limited period, typically 48 hours, before expiring. This temporary nature offers significant security benefits, minimizing the risk exposure of your primary card information even if the Netcard details are compromised. Additionally, the limited lifespan prevents inadvertent recurring charges or subscriptions associated with the card. Furthermore, the Netcard is accessible to Kotak Mahindra Bank customers at no additional cost.

Wallester

Wallester is a VISA card issuing company and payment processing services for businesses. They offer disposable corporate virtual cards to businesses in European Economic Area and UK. The single-use business card integrates with contactless payment apps such as Apple Pay, Google Pay, and Samsung Pay. It is also a perfect solution for online media purchasing.

You can control your disposable virtual card using the Wallester app, available for download for Android and iOS devices.. It takes a few minutes to create a card.

Are Disposable Virtual Cards Worth It?

Disposable virtual cards are definitely worth considering if you value the security of your money and banking information. By opting for a disposable virtual card, you can establish an extra layer of protection. These cards can be easily generated and utilized for online card payments, ensuring that your sensitive information remains secure. What sets them apart is that once a payment has been made, the virtual card is automatically deleted.

Furthermore, you have the flexibility to delete the card at any time before using it. Often referred to as single-use virtual cards, they can only be employed for a single payment transaction. So, if safeguarding your financial details is a priority, opting for disposable virtual cards is a wise choice.

Disposable Virtual Cards: A Safer Way to Pay Online

Disposable virtual cards are a great way to protect your financial information online. They are more secure than traditional credit or debit cards because they are only valid for one transaction. This makes it much more difficult for fraudsters to steal your information. If you are looking for a way to protect your financial information online, a disposable virtual card is a great option. They are easy to get and use, and they can help you shop online with peace of mind.

Related information

• How to Get a Free Virtual Card Without a Bank Account
• Credit cards with virtual account numbers