For settlement operations modern banking system offers many varieties of plastic cards. With the development of Internet trading, virtual Visa and MasterCard cards have appeared. What are virtual cards and how to use them? What is the reason for their popularity? Let's try to figure it out.
What are virtual cards?
This is a special kind of payment card, which is designed for settlements and payment for purchases on the Internet. They do not have a physical carrier, therefore, paying with them in stores, as well as replenishing or withdrawing money from them at ATMs will not work.
Virtual Visa or MasterCard, despite the fact that it does not exist in physical reality, has all the necessary degrees of protection and details. She has a specific number, security code, expiration date, which are usually indicated during calculations. And she does not have electronic degrees, like plastic bank cards in the form of a magnetic strip on the back, because they are not needed at all.
VisaVirtual
Virtual Visa card belongs to one of the most popular payment system in the world. The period of its validity is strictly defined and established directly by the bank in which it was issued. The Visa payment system card can be used to make most payments on the Internet.
MasterCardVirtual
Also, many banks offer their customers to issue a virtual card and another no less popular payment system MasterCard. Moreover, it is practically no different from the aforementioned Visa. It is also issued in all major Russian banks.
Benefits of Virtual Cards
Why is a Visa or MasterCard virtual card best suited for online shopping? Its most important advantage is a sufficiently high degree of security of settlement operations. Be sure that after settlements with the main plastic bank card, the funds will not be withdrawn by scammers.
A separate type of financial fraud when making payments via the Internet was called phishing. Why is it dangerous for owners of plastic bank cards? Usually, when making payments, online stores ask for not only the card number, name of the owner, expiration date, but also the CVC code that is indicated on the back. No one is immune from the fact that the store administrators themselves can use this data at their discretion. The data obtained can be used by fraudsters when making other purchases or when withdrawing funds from the card.
With virtual cards, such fraud is simply impossible. The amount that can be debited from them has limitations (the limit can be set by the owner). The validity period of these cards is also short (several months). Many cards are valid for only one purchase, that is, they cannot be reused.
Moreover, issuing banks guarantee a high level of security, because they use Verified by Visa and MasterCard Secure Code protection technologies, which are equally the most reliable and efficient. Also, the SMS-Service service is connected to all virtual cards: when making a purchase, a confirmation code is sent to the mobile phone.
How to make a virtual Visa / MasterCard
Issuing a virtual card is possible only with one prerequisite: you need to have a plastic carrier in one of two systems (Visa or MasterCard). In most cases, banks issue a virtual card and tie it to its main debit card. Visa or MasterCard virtual credit cards are rare.In Russia, one of the few banks that issue credit cards without a physical carrier is Alfa Bank.
Sometimes banks offer virtual cards to customers who have an account. Moreover, the presence of debit card completely optional.
Issuing cards can be done in several ways. The most popular of them is registration via mobile or Internet banking. In the process of receiving, customers are asked to set a maximum amount for transactions and select a validity period. The card is replenished quickly and easily. This can be done both with the main debit and through an ATM.
By the way, some banks offer to issue a card through a payment terminal. However, a commission of the payment system and the organization-owner of the terminal is charged for this.
The most time-consuming way is to register at a bank branch. It is necessary to sign a banking service agreement, after which the details are issued.
Sberbank offer
A virtual card can also be issued at the largest Russian bank Sberbank. Visa Sberbank (or MasterCard) can be issued only under the conditions:
- the client entered into an agreement with Sberbank on banking services;
- the client is the owner of a debit plastic card;
- Sberbank Online and Mobile Bank services are connected to the customer’s cards.
A user can have only one card of one payment system. So, for example, if he has two cards (Visa and MasterCard with a physical medium), then the issue of virtual ones is limited to two, respectively. The validity period of virtual cards is three years.
To get a card, you need to contact the office of Sberbank or call the contact center. It is replenished by wire transfer from the main account through the Sberbank-Online system or at an ATM.
It is worth noting that this process is not the fastest and most convenient. In addition, only reusable virtual cards are offered.
Non-bank cards
In addition to banks, the payment systems Yandex. Money ”and“ WebMoney ”.
Yandex.Money guarantees that their production card will be accepted by those online stores that do not credit funds from the accounts of this system. These cards, in fact, belong to one of the Yandex.Money partner banks and the MasterCard payment system. The commission for issuing a virtual card is relatively high - 1.99% of the amount in the account, and the restriction on operations is up to 14 thousand rubles.
Yandex also offers a less costly option: linking a physical card to an account in a payment system. During settlement operations, funds will be debited from a bank plastic card, therefore security will be guaranteed both by the system itself and by Yandex.
WebMoney virtual cards are also owned by MasterCard. However, the commission is much less - 0.8% of the maximum replenishment amount.
How are the calculations made?
Confirmation of the authenticity of a virtual card is its number, expiration date and a three-digit code of numbers. These parameters are entered in the calculations. Thus, the calculation of a virtual card is not fundamentally different from operations with ordinary credit cards. You may also need a verification code, which is sent to the client’s mobile phone.
Virtual Visa or MasterCard is a very convenient invention, which guarantees absolute security when paying for purchases in online stores. The process of using them is simple and intuitive. Moreover, almost all major banks issue cards of this type, and customers do not need to contact the office for this. The user can be sure that the card will not be lost or scammers will use it.
