It is a credit card number created based on a credit card, not physically printed, and usable in all virtual purchases (mail order, e-commerce, etc.). The virtual card number is generated instantly upon request, is immediately usable, is created with a zero limit, and is free of charge.
Since it is created with a zero limit, its risk is zero.
The limit of the virtual card is set by the user. The limit can be closed whenever desired.
The most important feature that distinguishes a virtual card from a credit card is that it is not a physical card and cannot be used anywhere other than the internet. In other words, even if the limit on the virtual card you created is available, you cannot use this card on physical POS terminals (supermarket, restaurant, cafe, etc.). The virtual card is produced solely for use in online purchases.
When a virtual card is generated, the following information is created for the card:
- Card Number
- Expiration Date
- CVV2 information.
There is no need to generate a password for the virtual card.
Transactions made with the virtual card appear on the statement of the main card to which the virtual card is linked.
At some banks, the limit of the virtual card is managed through parameters.
Parameters that can be used:
- The limit resets every day
- The limit does not reset
- The limit set at statement cut-off dates is defined
- A limit with a specific duration is defined (for example, 1 day, 3 days, etc.)
In short, the virtual card is a card that reduces the risk of card theft and the use of a high limit, while allowing the user to act more flexibly in online purchases.
