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Why You Need a Virtual Card: Your Guide to Secure and Borderless Spending.

2024.12.12 21:05

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Why You Need a Virtual Card: Your Guide to Secure and Borderless Spending.

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Published Jul 31, 2024 + Follow

Remember the excitement when debit cards first came out? They made life easier, allowing us to carry less cash and pay securely. But soon, we saw a surge in credit card fraud and other issues tied to physical cards. Imagine you're on a week-long vacation and lose your card on the second day. Even if you manage to get a replacement expedited, it takes at least 48 hours to arrive. By then, you're halfway through your trip, without access to money for essentials like food or transport. Worse, your lost card could end up in the wrong hands, putting you at risk of fraud.

With credit card fraud projected to hit $12.6 billion in the next two years, the need for a safer, more reliable option is clear. Studies have shown that Virtual Cards Are 90% Safer Than Traditional Credit Cards. That's like finding your lost keys on the first try nine out of ten times or winning the lottery nine out of ten times you play, pretty incredible, right? A solution that’s nine times safer than traditional cards and exists right on your phone. No need to carry a physical card and you can pay anytime, anywhere. Plus, 85% of virtual card users report high satisfaction due to the ease of use, enhanced security, and control over spending. In this article, we’ll explore what a virtual card is, why you need one, and how to get your own Virtual card. Let's go right into it.

What are Virtual Cards?

A virtual card is exactly what it sounds like, a debit or credit card that exists only in digital form. Virtual cards are digital versions of your physical debit or credit cards, living in your digital wallet on your phone instead of your physical wallet. They provide a secure, convenient, and flexible way to spend globally, working just like your physical bank card but without the risk of being lost or stolen.

Why Virtual Cards?

Security: Virtual cards offer a significant boost in security compared to physical cards. Since the Wirepay virtual card isn’t physical, it can't be stolen and re-used. In 2018, people in the UK lost over £800 million to financial fraud, and more than 75% of these losses happened during transactions where the card wasn't physically present, like when paying over the phone or online. Virtual cards help protect against this by being easily freezable or, in the case of disposable cards, single-use. This means that the card details you leave with the vendor cannot be used to access your account after the single transaction. This added layer of security ensures your money remains safe, giving you peace of mind while shopping online or over the phone.

Convenience: One of the standout features of virtual cards is their convenience. Unlike physical cards, which require waiting days or even weeks for delivery, virtual cards are issued digitally and instantly. With Wirepay, setting up your virtual card takes just a couple of minutes, and you can start using it immediately. This instant issuance means you can shop online, subscribe to services, or make payments without delay. Whether you’re travelling abroad or making a last-minute online purchase, virtual cards ensure you’re never left waiting.

Control: Virtual cards provide unparalleled control over your spending. You can set specific spending limits to ensure you stay within your budget, freeze your card instantly if you suspect any suspicious activity, and manage your subscriptions more efficiently. By using a dedicated virtual card for recurring payments, you can easily keep track of all your subscriptions and avoid unexpected charges. This level of control helps you manage your finances better and prevents overspending.

Instant Access: With virtual cards, you have instant access to your funds, no matter where you are. This means you can shop and pay globally without the hassle of carrying a physical wallet. Even if you lose your phone, your virtual card will be accessible in your Wirepay account once you log in from another device. This feature ensures you can immediately resume spending without the hassle and cost of expediting a physical card. It’s perfect for travellers, busy professionals, and anyone who values seamless access to their money.

Where Can You Use Virtual Cards?

Online Shopping: Virtual cards are perfect for secure online purchases. You can use them for everything from everyday shopping on Amazon and AliExpress to fashion finds on Zara.

Subscriptions: Manage all your digital subscriptions with ease. Whether it's streaming services like Apple TV, social media advertising like Facebook Ads, or educational platforms like Coursera, virtual cards help you pay for them without hassle.

Travel Bookings: You can use virtual cards to book flights, hotels, and rental cars. They offer a secure way to handle transactions without the risk of your card details being compromised while you're on the go.

In-App Purchases: Enjoy gaming and other app-based services with added security. Virtual cards are ideal for making in-app purchases in games like Call of Duty (COD) or FIFA 24 (FC24), and many more, ensuring your financial details are kept safe.

Anywhere Contactless Payments are Accepted: Virtual cards can be used for contactless payments at millions of locations worldwide. Whether you're grabbing coffee at your local café or shopping at your favourite store, you can pay quickly and securely without the need for a physical card.

Who Needs a Virtual Card?

Travellers: Whether you’re exploring distant cities or relaxing on a beach, virtual cards offer secure transactions abroad. They protect you from the risk of losing a physical card and ensure your financial details remain safe wherever you go.

Online Shoppers: Protect your financial information when shopping online, whether it’s from a new site or a familiar one.

Subscribers: If you manage multiple subscriptions, virtual cards make it easy to control and track recurring payments.

Anyone Who Spends Money: Virtual cards are ideal for anyone making purchases, whether online or in-store. They offer a secure and convenient way to handle transactions, making them perfect for daily use.

Perfect for everyone, including People who often forget their wallets.

How to Create a Virtual Card

- Download the Wirepay app for free on AppStore or Google PlayStore.

- Sign Up and complete the KYC process for verification.

- Create a Free USD Wallet and fund the wallet through your preferred method.

- Navigate to the Cards Section, and tap on "Create Virtual Card" to start the process.

- For just $2, you can create your virtual card in under 2 minutes and use it immediately!

In today’s fast-paced world, a virtual card isn't just a luxury, it's a necessity! So, why wait? Create your Wirepay virtual card today and experience secure, hassle-free payments.

For just $2, you can get a Visa or Mastercard virtual card with a remarkable 3-year validity. Need to manage small transactions? Start with a minimum funding of just $1. And if you’re looking to handle larger amounts, our cards support a maximum balance of $10,000, so you’re always covered.

Download Wirepay now and unlock the ultimate convenience and security of virtual cards.

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