Contents
Payment instruments are constantly developing and improving, something new appears, unusual for the average person and requiring careful study and adaptation to a new product. So, along with plastic bank cards, to increase the security of online payments, banks began to issue a virtual card. All over the world, similar cards of the Visa and MasterCard payment systems are issued. Gradually, these cards change their name to “digital”.
What is a virtual card (VCC or VDC)?
A virtual card is a card designed exclusively for online payments on the Internet (paying for purchases in online stores and making transfers to other cards / bank accounts).
The word "virtual" also means that such a card is issued in electronic form. It is a set of attributes of a regular card required to pay for goods or services on the Internet: card number, expiration date and card authentication code (the so-called secret code) CVC2 for MasterCard and CVV2 for Visa. Thus, it has the same details as a standard card, there is only a PIN-code, which is absent as unnecessary - you cannot withdraw money from the virtual machine at an ATM or at the bank's cash desk, it is.
Sometimes banks offer to get a virtual card on a plastic basis. The client will be given a "blank" the size of a standard card without a chip and magnetic stripe, but only with the above attributes - for ease of use.
Such a card is analogous to a regular bank card, it is exactly the same payment instrument, but without a physical medium, that is, it cannot be held in hands.
The main task of a virtual card is to ensure the safety of your funds during online payments, since you no longer "shine" the details of your debit card, but use the details of a temporary card with a limited limit.
Probably everyone has heard about possible security problems - scammers have come up with various ways of extorting money from bank card accounts. It is to reduce the risk of being deceived that virtual cards were invented.
Such cards are usually issued by banks or payment systems (Yandex Money, QIWI, etc.). The principle of operation is the same for everyone, only tariffs and methods of registration differ.
"Virtuals" are not credit cards (more modern digital cards can also be credit cards, for example, the bank card, which will be discussed below).
Design and use
To issue a virtual card, you must indicate on the website (or in the terminal of the payment system) the phone number to which its details will be sent. That is, the virtual machine must be tied to the phone without fail - this is also necessary for using the 3-D Secure protocol during payments. Also, it does not hurt to connect the SMS-informing service to receive notifications after each operation. In some cases, SMS-informing is included in the cost of service, and sometimes this service must be activated additionally - read the conditions before registering.
To pay online, you will need to replenish the virtual card for the amount you need. This can be done by a simple transfer from a debit card account - if the virtual machine and the debit card are from the same bank, then the commission is usually not charged for the transfer. Try to top up it for the amount that you plan to spend on a purchase - it is better to do this every time before a planned purchase (especially on unknown online stores). Safety rules should not be neglected in any case.
To make a payment using such a card, you need to select the appropriate payment method on the seller's website and enter the standard data:
In general, the payment procedure is no different from payments on the same credit or debit plastic cards. You do not need to perform any specific manipulations, everything is standard.
Advantages and disadvantages
The main advantage of a virtual card is its physical absence. It cannot be lost. If you accidentally erased an SMS message with details, then the data can always be restored with an additional request on the bank's (payment system) website. All payments are made after entering one-time passwords sent to the owner's mobile phone (3-D Secure service). And even in the event of fraud and money theft, you will only lose what you transferred to the virtual card. All details of the main payment instrument remain hidden from prying eyes, which means that your money will remain intact.
Other advantages include:
1. Ability to set a spending limit. Then it will be impossible to write off a penny in excess of the amount you specified. Such a limit can be set for a one-time write-off or for a daily expenditure of funds;
2. Possibility of blocking the card in case of suspicion of its compromise;
3. Competitive service cost;
4. Ability to link to electronic wallets (Webmoney, Qiwi, Yandex Money, Paypal, etc.).
Paradoxically, the main and, probably, the only drawback of a virtual card is generated by one of its advantages - it is physical absence. For this reason, the scope of the card is very limited. For example, you cannot pay her in hotels, shops, parking lots, etc., only payments via the Internet, and nothing else.
As you can see, the virtual card has more advantages than disadvantages. Therefore, it is not only possible to use it, but also necessary. Especially if you often order something on the Internet and pay with a bank card. A virtual card will allow you to safely pay for your purchase and not put all the rest of the money on your card accounts at risk.
For example, we will tell you about a similar product from the largest bank.
Bank virtual card (digital)
Bank has been issuing a debit and credit virtual card of the Visa payment system, which has become known as digital. You can apply for it in the Internet bank (Bank Online) or in the mobile bank (application). At the time of application, you must already be a holder of a debit plastic card of bank, connected to the services of Bank Online and Mobile Bank. In addition, you must have a universal banking service agreement (UBSA).
The virtual digital card of bank is issued with a validity period of 3 years. It can be used for the entire period, replenishing as needed for the amount of the purchase - you can replenish it by transferring to Bank-Online (both from a debit card and from a credit card) or in a self-service terminal using the operation "transfer from card to card" (if available card with which you plan to make a transfer!).
The card can also be used to make one-time payments, replenishing the required amount.
There is no service charge - the card is completely free. For payment with its help on the Internet, no commission is taken. The maximum limit on transactions of payment for goods and services is $ 5000 per day (it makes sense to further clarify the limit).
When you activate the Mobile Banking service with the “Full Package” tariff, it will be possible to receive SMS-information on each card transaction (some money per month or free).
You cannot apply for an overdraft limit on a virtual debit card and issue additional cards for authorized persons. They are not issued within the framework of salary projects either. Cards are protected with CVV2 and CVC2 codes, which are sent via SMS to the owner's phone (along with other details - 16-digit number and expiration date).
A digital credit card is issued with a credit limit of up to $ 10000 and a grace period of up to 50 days - by analogy with a standard Sberbank credit card.
The card can be connected to payment services (Google Pay, Apple Pay or Samsung Pay) and pay with it for purchases in offline stores.
- 1. Virtual card - what is it?
- 2. Design and use
- 3. Advantages and disadvantages
- 4. Virtual card of Sberbank (digital)
Payment instruments are constantly developing and improving, something new appears, unusual for the average person and requiring careful study and adaptation to a new product. So, along with plastic bank cards, to increase the security of online payments, banks began to issue a virtual card. All over the world, similar cards of the Visa and MasterCard payment systems are issued. Gradually, these cards change their name to “digital”.
What is a virtual card (VCC or VDC)?
A virtual card is a card designed exclusively for online payments on the Internet (paying for purchases in online stores and making transfers to other cards / bank accounts).
The word "virtual" also means that such a card is issued in electronic form. It is a set of attributes of a regular card required to pay for goods or services on the Internet: card number, expiration date and card authentication code (the so-called secret code) CVC2 for MasterCard and CVV2 for Visa. Thus, it has the same details as a standard card, there is only a PIN-code, which is absent as unnecessary - you cannot withdraw money from the virtual machine at an ATM or at the bank's cash desk, it is.
Sometimes banks offer to get a virtual card on a plastic basis. The client will be given a "blank" the size of a standard card without a chip and magnetic stripe, but only with the above attributes - for ease of use.
Such a card is analogous to a regular bank card, it is exactly the same payment instrument, but without a physical medium, that is, it cannot be held in hands.
The main task of a virtual card is to ensure the safety of your funds during online payments, since you no longer "shine" the details of your debit card, but use the details of a temporary card with a limited limit.
Probably everyone has heard about possible security problems - scammers have come up with various ways of extorting money from bank card accounts. It is to reduce the risk of being deceived that virtual cards were invented.
Such cards are usually issued by banks or payment systems (Yandex Money, QIWI, etc.). The principle of operation is the same for everyone, only tariffs and methods of registration differ.
"Virtuals" are not credit cards (more modern digital cards can also be credit cards, for example, the bank card, which will be discussed below).
Design and use
To issue a virtual card, you must indicate on the website (or in the terminal of the payment system) the phone number to which its details will be sent. That is, the virtual machine must be tied to the phone without fail - this is also necessary for using the 3-D Secure protocol during payments. Also, it does not hurt to connect the SMS-informing service to receive notifications after each operation. In some cases, SMS-informing is included in the cost of service, and sometimes this service must be activated additionally - read the conditions before registering.
To pay online, you will need to replenish the virtual card for the amount you need. This can be done by a simple transfer from a debit card account - if the virtual machine and the debit card are from the same bank, then the commission is usually not charged for the transfer. Try to top up it for the amount that you plan to spend on a purchase - it is better to do this every time before a planned purchase (especially on unknown online stores). Safety rules should not be neglected in any case.
To make a payment using such a card, you need to select the appropriate payment method on the seller's website and enter the standard data:
- the name and surname of the cardholder in the Latin layout (such information may not be sent to you, just enter your name and surname in the required form - mistakes are not critical here);
- card number (16 digits, like a regular debit card);
- CVV2 or CVC2 code (last 3 digits on the back of the card);
- card expiry date.
In general, the payment procedure is no different from payments on the same credit or debit plastic cards. You do not need to perform any specific manipulations, everything is standard.
Advantages and disadvantages
The main advantage of a virtual card is its physical absence. It cannot be lost. If you accidentally erased an SMS message with details, then the data can always be restored with an additional request on the bank's (payment system) website. All payments are made after entering one-time passwords sent to the owner's mobile phone (3-D Secure service). And even in the event of fraud and money theft, you will only lose what you transferred to the virtual card. All details of the main payment instrument remain hidden from prying eyes, which means that your money will remain intact.
Other advantages include:
1. Ability to set a spending limit. Then it will be impossible to write off a penny in excess of the amount you specified. Such a limit can be set for a one-time write-off or for a daily expenditure of funds;
2. Possibility of blocking the card in case of suspicion of its compromise;
3. Competitive service cost;
4. Ability to link to electronic wallets (Webmoney, Qiwi, Yandex Money, Paypal, etc.).
Paradoxically, the main and, probably, the only drawback of a virtual card is generated by one of its advantages - it is physical absence. For this reason, the scope of the card is very limited. For example, you cannot pay her in hotels, shops, parking lots, etc., only payments via the Internet, and nothing else.
As you can see, the virtual card has more advantages than disadvantages. Therefore, it is not only possible to use it, but also necessary. Especially if you often order something on the Internet and pay with a bank card. A virtual card will allow you to safely pay for your purchase and not put all the rest of the money on your card accounts at risk.
For example, we will tell you about a similar product from the largest bank.
Bank virtual card (digital)
Bank has been issuing a debit and credit virtual card of the Visa payment system, which has become known as digital. You can apply for it in the Internet bank (Bank Online) or in the mobile bank (application). At the time of application, you must already be a holder of a debit plastic card of bank, connected to the services of Bank Online and Mobile Bank. In addition, you must have a universal banking service agreement (UBSA).
The virtual digital card of bank is issued with a validity period of 3 years. It can be used for the entire period, replenishing as needed for the amount of the purchase - you can replenish it by transferring to Bank-Online (both from a debit card and from a credit card) or in a self-service terminal using the operation "transfer from card to card" (if available card with which you plan to make a transfer!).
The card can also be used to make one-time payments, replenishing the required amount.
There is no service charge - the card is completely free. For payment with its help on the Internet, no commission is taken. The maximum limit on transactions of payment for goods and services is $ 5000 per day (it makes sense to further clarify the limit).
When you activate the Mobile Banking service with the “Full Package” tariff, it will be possible to receive SMS-information on each card transaction (some money per month or free).
You cannot apply for an overdraft limit on a virtual debit card and issue additional cards for authorized persons. They are not issued within the framework of salary projects either. Cards are protected with CVV2 and CVC2 codes, which are sent via SMS to the owner's phone (along with other details - 16-digit number and expiration date).
A digital credit card is issued with a credit limit of up to $ 10000 and a grace period of up to 50 days - by analogy with a standard Sberbank credit card.
The card can be connected to payment services (Google Pay, Apple Pay or Samsung Pay) and pay with it for purchases in offline stores.
