Online Transactions Using Virtual Cards: Find Out How Safe They Are

Virtual cards, which replace the actual debit or credit cards, have no physical existence and hence users are not required to carry them

More people transfer money electronically today than ever before – for paying bills or dues or to make purchases on e-commerce platforms. The rise of digital payments using credit or debit cards, though hassle-free and efficient, has led to some concern about the safety of these transactions and the data involved, such as card details like its number, its expiry date, and the CVV number. While these transactions are protected by adequate security protocols, to address the doubts, if any, several banks are now offering their customers the option to use virtual cards. What are virtual cards? Virtual cards, which replace the actual debit or credit cards, have no physical existence and hence users are not required to carry them. You can either remember or save the details of your virtual cards on your mobile phone to use them for online transactions. How secure are they?