What Is a Virtual Card? Explained Simply
What is a virtual card? It works like a physical payment card but exists only digitally — with its own card number, expiry date and security code, usable online and in a digital wallet.
Transcript
What is a virtual card? A virtual card works like a physical payment card, but exists only digitally.
It has a card number, expiry date, and security code, and can be used online and added to a digital wallet.
Virtual cards can be issued quickly and are useful for managing subscriptions, employee expenses, and supplier payments.
They can also be frozen, replaced, or given spending limits.
And they can all be used without waiting for a physical card to come in the mail.
Follow for more Fintech Explained by Demivolt, and don't forget to like and subscribe.
About this episode
A virtual card works like a physical payment card but exists only digitally. It carries its own card number, expiry date and security code, so it can be used online and added to a digital wallet exactly as a plastic card would be.
The practical advantage is speed and control. Virtual cards can be issued quickly, which makes them useful for managing subscriptions, employee expenses and supplier payments — and each one can be frozen, replaced or given a spending limit without disturbing anything else.
None of it depends on waiting for a card to arrive in the post. Demivolt issues virtual cards as part of its card programmes, alongside physical cards where a business needs them.
Key takeaways
- A virtual card works like a physical payment card but exists only digitally.
- It has its own card number, expiry date and security code, and works online or in a digital wallet.
- Fast issuance makes virtual cards useful for subscriptions, employee expenses and supplier payments.
- Each card can be frozen, replaced or given spending limits — with no wait for plastic to arrive.
Related from Demivolt
Ready to get started?
Open an account or talk to our team about your programme.