A virtual credit card or an e-cash account is a temporary electronic account number which you can use while purchasing online. The disposable virtual credit cards are designed to guard your actual financial account number from being stolen by the criminals. These prepaid credit cards are issued with different logos and different logo designs.
Virtual credit cards are generally used for online shopping, cash advances, ATM transactions, and other business expenses. This type of card has the ability to be used with almost every major credit card company. The e-cash accounts are linked to a specific bank account.
When a virtual card is activated, the customer will be given an e-mail address which is used to make payments. The e-mail is generated with a special link to the merchant’s website, where a special code will be sent to the e-mail address by the customer.
Credit card companies do not have access to the e-mail addresses of their customers. This means that they cannot check out the information on the e-mail account itself. However, the payment processor will be able to access the account at any point of time. This will ensure that only the merchant is receiving the payment and there is no chance for fraud.
Once the customer pays for a certain product, he or she is transferred to the e-currency or virtual currency. This is the amount they will be able to transfer from one place to another using the virtual card. This virtual account is completely separate from your actual banking account.
Virtual credit cards are ideal for people who shop on a frequent basis. These prepaid virtual cards can be used in any of the major stores that accept online payments. With just a click of a mouse, you can withdraw money from your account and pay for your purchases in person.
There are many e-currency trading websites which provide this type of service. Many people get paid via e-currency while doing online transactions. Some businesses also pay their employees through these websites and make transfers to other employees as well.
E-currency cards are easy to use. The customer can sign up for these accounts online with their bank details and get the electronic card delivered to their e-mail address within a day. They will receive their card number, which they can transfer directly into their checking or savings account.
Since these cards are not backed by a financial institution, it comes with some level of chargeback risk. If the customer is unable to pay for his or her purchases, the merchant has the right to contact the credit card company. With credit cards, you are given an option of paying the balance off each month. However, if you don’t pay your balance back, then the chargeback risk is not your problem.
A business owner can use this type of card for a variety of reasons. They may want to conduct a marketing campaign, increase sales and gain more customers. It is also a great way of boosting sales for a small business that cannot afford to spend on large advertising campaigns. A merchant can choose the cards that best suits his or her needs. A virtual card can be used for business cards, prepaid debit cards, reloadable credit cards and even a loyalty card.
When selecting a virtual credit card, there are a few things to look for before making a purchase. Check out the terms of the program very carefully before you sign up. A good company will have a long, detailed policy about charges. It should clearly state the amount you can transfer in e-currency from your bank account to the card.
You need to make sure the credit card company is authorized to do business in your country. If the company is a foreign corporation, it may be easier to get approval if the company is registered in your country. It is also a good idea to check the terms and conditions of the card company to make sure they have a good reputation with the Better Business Bureau and other sources.
If you have an internet connection, you can also read a lot about virtual card programs online. You may find a company that provides a wealth of information, including tips on how to get a virtual card. If you want to purchase one, then do so with caution.