A Beginner’s Guide To Virtual Prepaid Card

Thanks to technological advancement, the world is functioning on all things digital. You can perform any activity online within your comfort zone. The game changer is the introduction of virtual prepaid cards. Wondering what a virtual prepaid card isor the reason behind its popularity?Here is a thorough guide for you to explore.

What is a virtual prepaid card?

Virtual prepaid cards are electronically produced and delivered cards that offer the benefits of physical cards to the users in a digital format. You can easily use these cards to make a one-off payment, or you can use them for day-to-day transactions. Before using a virtual prepaid card, you need to add the funds and use it like a prepaid card. To make a payment with a virtual card, you need to enter the following details as listed below:

● 16-digit card number

● Security code (CVV)

● Card expiration date

The virtual prepaid cards offer spending freedom to the users and can be used at any online merchant where Visa and Mastercard are accepted. Using it helps improve the overall shopping experience along with safety and convenience to the users. Now that you understand what virtual prepaid cards are, let us know more about how they are loaded and delivered.

How are virtual prepaid cards loaded and delivered?

The cards are loaded by the issuers, often employers or retailers, by transferring money electronically. Then, an email with a link to a quick-launch screen is sent to a recipient list with the cards. Cardholders can access their balance and transaction historythrougha mobile app or website.

Since virtual cards are not physical objects, they do not need to be produced or printed and can be sent quickly worldwide. The delivery procedure normally takes about one to two weeks from when the card request is created until they are issued, as opposed to four to five weeks for physical card creation.

Why use virtual prepaid cards?

A virtual prepaid card can be instantly created and used, offering ease and convenience to the cardholder. Also, since there is no physical card issued, these cannot be misplaced, and there is no need to replace them due to the wear and tear of the card.

Benefits of virtual prepaid cards

• Security

Using a virtual prepaid card offers numerous advantages to cardholders. Some of them are listed below:

Prepaid virtual cards are known for being safe, and for a good reason. One benefit is that since there is no actual card for you to carry, it cannot be stolen or misplaced. In addition, virtual prepaid cards are more secure than real ones since they lack magnetic stripes and visible card numbers. This makes it even more difficult for hackers or other unauthorized users to access your account. In addition, your account will be safe from harmful activities.

• Budgeting

Your virtual prepaid card is the ideal tool for managing your finances. First, you must upload money to your virtual prepaid card and use it wherever you like. In addition, you can easily track your spending because the card will only authorize purchases up to the amount on the card.

• Instant

Numerous virtual card issuers give prepaid cards instantly to customers. All you need to do is, open an account with your preferable company and add the required details.

• Convenience for e-commerce

Unlike traditional banking processes, virtual credit cards do not have fixed working hours. Instead, they work round the clock to be available for international business anytime you need them. With a virtual prepaid card, you will not have to waste time visiting any bank. Instead, with just a few taps on your smart device, you can easily do the transactions online to make business efficient.

• Low cost

The virtual cards are quite affordable as they have zero costs. Furthermore, since everything is done online, the virtual bank may reduce operating expenses and, as a result, lower customer fees. Therefore, you can relax while earning money.

• Cashbacks and offers

Access to a plethora of online offers on food, shopping, and restaurants is made possible through virtual prepaid cards. In addition, a virtual prepaid card can also accrue bonus points, which can be redeemed online using the bank’s mobile application. Virtual prepaid cards offer cashback and rewards, so they can save extra every time they carry out a transaction.

Virtual prepaid cards are instant and ready-to-use once your application is approved. EnKash is one of the best spend management platformsthat offers such customizable solutions for your business. They offer virtual cards that one can generate as per their business spending, set usage limits, and come acrossother interesting features.

Make the most of the e-commerce business with virtual credit cards by EnKash.They offer users the advantage of creating, managing, and monitoring their cards according to their preferences. Furthermore, they offer virtual prepaid cards instantly as per the KYC norm, and the onboarding process is quite straightforward.

So, what are you waiting for? Visit the EnKash website and explore a whole new world of spend management solutions.