A virtual debit card is a digital version of a traditional debit card that can be used for making purchases, buying goods or services online, and more. It contains all the same information as a physical debit card, such as the name of the cardholder, a 16-digit debit card number, and a CVV number. However, it only exists in a digital format and can be used anywhere that accepts debit, including online purchases and contactless payments in stores by adding it to Apple Pay or Google Pay. Here are some key features of a virtual debit card:
- It can be used just like a physical bank card for online purchases and contactless payments in stores.
- It is secured by encryption and offers a safe and secure way to make purchases.
- It can be instantly locked and unlocked from your phone at any time.
- It can be used to manage subscriptions by using a dedicated virtual card for all your recurring subscriptions.
- It is considered to be very secure because it is protected by both a mobile app password and a digital platform.
Virtual debit cards are similar to virtual credit cards, but the randomly generated number is linked to an underlying debit account instead of a credit card. When charges are made using the virtual debit card number, the purchases are routed to the linked account and are subtracted from the balance. However, people are not able to trace the number back to the originating account or to access money by using the number. Virtual cards may be unsuitable for reservations that require you to show a physical credit or debit card at the time of verification.
To get a virtual debit card, you can apply for one through your banks website or mobile app. Once you have your virtual debit card, you can make payments using the banks mobile app or add the card to your smartphones digital wallet. Some online providers also offer virtual debit cards for your online wallet. Virtual debit cards offer access to a wide range of online discounts and promotions on items such as food, shopping, and dining. Additionally, users can earn bonus points with their virtual debit card and redeem them online through the mobile app of the issuing bank.
