The Virtual Visa Cards Service

1. Introduction

Given the advancements in the online shopping ecosystem, the concept of paying for goods and services over the internet using credit and debit cards is fast becoming a norm. The virtual Visa card payment option accentuates the flexibility, as well as the convenience that comes with online shopping. In essence, a virtual Visa card is an online card; very much unlike the traditional Visa cards that are made of plastic. It is often open for online payments and can be used for any kind of online transactions. One doesn’t need to come into physical contact with the point of sale terminal or merchant websites for payment to be effected. Virtual Visa cards have gained increasing popularity because of many reasons. First and foremost, obtaining a virtual card is extremely simple. More often than not, the credentials are keys in the account profile and a ‘mouse click’ on “get a virtual card”. The other possible option is to install a virtual card app. This ease of acquisition is its greatest advantage. Also, the service prevails on multiple online platforms; for instance, a virtual Visa card Canada is acceptable by majority of Canadian online traders. Also, the service provides unique extra layers of security in addition to the cautionary steps that the consumer may take. One of such is the phony transactions prevention measure. This is a security feature that sends a short-lived number to the account holder whenever a payment prompt is made, and the account number is different from the number on the card. Whenever payments are processed, the authentic number is submitted and the transaction is completed. Ergo, the virtual Visa card payment option gains the trust of many online purchase enthusiasts. There are many consumers who are yet to fully embrace the concept of virtual Visa card. However, by and large, it is something that is a run-away train and very swollen steam: and in the not too distant future, physical cards may as well be in the museums!

1.1. What is a virtual Visa card?

In contrast to regular cards, virtual Visa cards are not issued from a particular credit card company. Traditionally, credit cards are issued from banks or credit card companies, like Visa, and bear a visual sign of the company. However, the card is a bank card and is subject to all national regulations of any conventional credit card. Its virtual alternative, despite the name “virtual Visa”, is not exclusively offered by Visa and it can be offered by a bank, credit card company, or most recently, financial technology companies. In fact, virtual Visa cards are a 16-digit card number; at first sight, it looks exactly the same as any regular credit card. However, virtual Visa cards are intangible and only exist online. When you apply for a virtual Visa card, most providers give you only the card number, its CVV code (the three-digit code on the back), and its expiration date. All the information is static, meaning that it does not change; you can save it online and it can be used for different online purchases.

1.2. Benefits of using virtual Visa cards

The main attraction of using a virtual Visa card is convenience. These cards are not tied to any physical item, such as a plastic card, so wherever the online merchant accepts payment via a Visa card, the virtual card can be used. Also, because the virtual card is temporary and will expire within a very short period of time after being used for a transaction, it is safe from fraud and identity theft attempts. If a criminal were to intercept the details of a virtual card transaction, the most they could do with those details would be to attempt to use them illegally. However, because virtual cards have very short expiration periods, usually measured in hours, and do not have any physical presence, there is no way that someone who intercepts details could use them for their own gain. Additionally, ending a virtual Visa card is very simple and can be done at any time. This is useful when a regular payment is being made from a card, such as a subscription payment, and the service is no longer required. Furthermore, because virtual cards are provided automatically through the Visa system, it is very easy to maintain a supply of new virtual cards to use for online transactions. All that is required is the push of a button when requesting a new card from the card supplier, and new card details are given nearly instantaneously.

1.3. How virtual Visa cards work

To obtain a virtual Visa card, open your favored tab and search for your chosen issuer. In this example, we’ll use entropay.com. Click the “Sign Up” button and fill out the shape with your private important points just like you would for any different regular price card. If you’re using a pay as you go Virtual Visa card in specific – for example, entropay offers right now – be conscious that you will now not be capable to use it except you’ve deposited cash on it first. If you’re the usage of a fee card that permits you to spend your personal cash on a pay as you go basis, you ought to register and set off the card to get admission to all facets of the card. After activation, the Virtual Visa card will seem in your account dashboard alongside any different playing cards you have registered, and you’ll be in a position to add cash, see your card range and PIN and display transaction records – all barring a plastic in sight.

2. Getting Started

Most users will only be asked to provide proof of their identity once they are ready trust level and that will allow them to take full advantage of their virtual Visa card. However, if you are prompted to provide proof of your identity prior to being able to use your account, keep in mind that specific requirements for identity verification will vary from providers and also vary based on the specific trust level that you are seeking to achieve. Always make sure that you are working with a reputable provider when submitting a request for proof of identity.

When you’ve completed and submitted the form, you will likely receive an email from the virtual Visa card provider. This email may include a link you are required to click on in order to verify that your email address is active and that you are the entity seeking to establish an account. Click the link and follow the instructions within the email. You will be directed to the website and notified that your email address has been verified. At that point, you’ll be able to log in and start using your virtual Visa card account, unless you are still required to complete the registration process by verifying your identity.

When you visit the website of a virtual Visa card provider, you’ll first need to establish an account. From the homepage, look for a button or link that says “Sign Up,” “Create an Account,” or something similar. Clicking this button will take you to a page with a form requesting some basic information. In most cases, this will include your name, email address, physical address, and a password you’d like to use for logging in. You may also be required to select a security question and provide an answer. Typically, this security question and answer will be used if you ever need to recover access to your account and can’t remember your password.

2.1. Creating a virtual Visa card account

To start using the virtual Visa cards services, you need an account you will use to manage your cards, for example, to top them up or view your transactions. This account is separate from virtual Visa cards and so you need to visit the provider’s website and create an account there. When you visit the website, you will see a “Log in” button at the top-right of the page. You should click on this button and from the page that appears, click on “Sign up”. The website will then guide you through the process of creating your account. You will need to provide your email address and choose a password. Once you submit this information successfully, your account will be created and you will receive a confirmation email. This will have a link you should click on to complete the registration process. After clicking the link, you will be directed to a page where you need to provide some personal details including your first and last names, your date of birth and your residential address. This is because in order to comply with regulations, the provider is required to verify the identity of all its users. Such personal information is protected and virtual Visa cards is committed to providing its users with a secure and safe environment. After providing this information and clicking on “Submit”, your information will be reviewed and once your identity is verified, you will be able to log in to your account and apply for a virtual Visa card.

2.2. Verifying your identity

Sometimes the online checks can’t complete successfully. This could be due to the quality of the data on the ID, the document itself, or circumstances concerning the application. If this happens, you’ll be asked to take a live photo with your phone. There are different technologies that can be used to do this type of verification; it depends on where you are in the world and the type of identity document you provide. Live photos work by comparing the selfie you take with the biometric data from the ID. We use specially designed algorithms and models to match faces and make sure that the photo has been taken by a live person. All these checks help us make sure that we’re talking to the real owner of the ID document. It provides a good level of security against fraudulent attempts to use an ID that doesn’t belong to the applicant. Ensuring that we all verify our identity properly can also help reduce the risk of fraud and financial crime in the industry. By taking a few steps to set up your account and verify who we are, it can help make sure that everyone stays safe within the system.

We check online to see if the ID has been reported lost or stolen.

We verify that the ID has not been tampered with. This means checking that the data on it hasn’t been altered and the machine-readable zone (MRZ) is well-formed.

We’ll check the authenticity of the ID. We can do this for most passports and identity cards.

During sign-up, we’ll ask you to provide the ID document for your country and a selfie, which we’ll check to make sure we’re talking to the rightful owner of the ID. Our system will first perform online checks to verify the info on the ID, and then you’ll be asked to take a live photo with your phone. Here’s what happens next:

2.3. Funding your virtual Visa card

When you create your account and your card has been approved, you will have many options available to you for funding your account and your virtual Visa card. You can link your bank account and add funds to your account through bank transfer or wire transfer. You can also initiate an ACH deposit to your account. ACH is the electronic transfer system used to move money between bank accounts throughout the United States. If you would like to add funds using cash, you can use Green Dot MoneyPak which is available at retailers across the United States. You can use Visa, MasterCard, Discover, and some other prepaid cards to make a deposit to your card account. Some card companies charge a cash advance fee for this type of loading. When funding your virtual Visa card this way, the money is typically available on your card within 30 minutes.

3. Using Virtual Visa Cards

This payment tool can be very useful if the user is the kind of person that makes many online purchases. Using a virtual Visa card to make an online purchase is a very simple process. Generally, it is very similar to making a purchase with a physical Visa card. First, the user will visit the website from which they want to make a purchase. Then, they will go to the payment page, where they will be prompted to enter their card details. This is where the user will use information from their virtual Visa card. As well as making simple, one-off purchases, a virtual Visa card can also be used for recurring payments – for example paying a monthly subscription. They are a very popular form of payment for these kinds of transactions, as they offer users increased security and peace of mind. When the user sets up a recurring payment with a physical card, they are required to give their 16-digit card number, the expiry date of the card and the security code. However, with a virtual Visa card, there is no need to give out such detailed personal and sensitive information because the user can set a maximum value on the card and specify the exact date on which a payment is expected. These features mean that the user has more control over the card and, should the security of the information be compromised in any way, the user’s ‘real’ money sits safely in their main account. Also, users who have experienced fraud with their regular credit or debit cards will appreciate these additional security features of a virtual Visa card and the knowledge that only the card’s limited funds are at risk. International Visa cards can be used abroad in many locations around the world in shops, restaurants, hotels and also for withdrawing local currency in ATMs. It is important to note that a physical Visa card still needs to be used for these transactions – a virtual Visa card is not accepted in countries other than the country of issue.

3.1. Making online purchases with a virtual Visa card

The main benefit of using a virtual Visa card is that you can remain in control of your personal details at all times, and you can prevent your physical card from being misused. Then again it comes to making an online purchase. First, you need to select the goods or services that you wish to purchase from an online merchant, just like you would in any online shopping experience. Virtual Visa Card is a great option for making secure, efficient online payments. When you apply for a virtual, you will be given a 16-digit number, expiry date and security code just like a typical plastic card and you can in fact use it in a similar way, so as to make purchases online or by telephone. The major benefits of virtual credit card is the secure financial nature of it. Many times, when we do online payments we need to pay through a payment gateway with our own credit card that uses primary card numbers for transaction and sharing such details with an online retailer can be risky as we might end up having our financial information stolen; so as to avoid such scenario, for a safe and secure transaction process one can make use of virtual cards for shopping and Virtual Visa Card is a great option for making secure, efficient online payments. The process of making a payment with a virtual Visa card is very similar to using a standard debit or credit card. However, instead of entering your actual card details.

3.2. Virtual Visa cards for recurring payments

You can use a Visa virtual card for recurring payments to merchants you have authorized to bill your account over a period of time. If you provide your 16-digit Visa card number – whether virtual or physical – and the merchant asks for the CVV, your payment should be processed normally. However, the process of making a payment on a merchant’s website with a virtual card number depends on how the merchant is set up to accept payments. Merchants are required to ask for the card’s expiration date (if provided) and the card’s security code. This helps ensure that anyone processing recurring payments under your authorization is able to provide current card and payment information. If a merchant fails to ask for the expiration date or CVV, and you agree to a recurring transaction at the time of authorizing the merchant to charge your virtual card, you cannot be required to complete the transaction. This can help you stop unwanted or unauthorized recurring payments. It is important to monitor the activity on your virtual card number. The Visa Zero Liability policy can protect you if you see unauthorized activity on your card; but you should regularly review your card statements and sign up for alerts from your card issuer if those services are available to you. Regularly reviewing your card statements can help you identify and act on unauthorized activities quickly.

3.3. Virtual Visa cards for international transactions

Virtual Visa cards for international transactions are one of the most secure ways to pay for products and services from overseas. The cards are supported by Verified by Visa, which adds an extra level of security that’s designed to protect the cardholder. In many cases, it protects against unauthorized use. When making the transaction, you’ll be asked to enter a password. So, while your sixteen-digit virtual card numbers may be on the thinner side, and some may consider the lack of a physical card to be a disadvantage, the improved security features more than make up for this. The same happens with expiration dates as well – those details are typically generated at the time of the transaction and are live long enough to be able to make the payment but no longer. Even if a fraudster acquired these details, there would only be a very small window in which they could use them. The final reason as to why virtual Visa cards are such a popular method for making international transactions is convenience. There’s no need to visit your bank or building society, no need to have a physical card produced by them, and, as long as you have internet access, no need to be at home when you wish to make your payment. Whether it’s a bank redirecting payments to credit the account, a company refunding money to a virtual card, or a user transferring money to an online wallet, the money you spend overseas is handled differently according to the payment method chosen and the party that receives the money. Most of the time with a virtual Visa card, the process is seamless and there are no transaction fees or forth surcharges added by the provider, which can be the case for some other payment methods.

3.4. Virtual Visa cards for digital subscriptions

Some services may try to verify the card’s validity, usually by charging a small amount and reversing the charge. However, as the virtual Visa card is not a physical item, we would not be able to check for such charges. Therefore, look for a virtual Visa card that is continuously generated with different security features for every transaction. This feature is usually called a dynamic security code, in which the card’s security code changes periodically. It would give us another layer of security to our transactions. But always make sure the virtual Visa card which we are planning to subscribe has the feature of an updated security code, as not all services are being equipped with this safety feature.

First of all, ensure that the virtual Visa card could be used for recurring payment. Most of the Internet Protocol Television (IPTV) and other video streaming services have preference of giving their service to customer using direct debit card, as it would ensure that they would get their payment on time. Some virtual Visa cards need to be topped up manually every certain period and some could not be linked to a direct debit feature. Therefore, ensure that the virtual Visa card could be used for recurring payment without any interruption.

Moving on from the last section focus, I would like to inform that when choosing a virtual Visa card for subscription services, we often focus on finding the most affordable card which is capable of giving continuous service. However, as the virtual Visa card is already evolving and adapting the landscape of transaction method, there are some features that we could take advantage now.

4. Managing Your Virtual Visa Cards

Guideline 1-5 Each virtual Visa card comes with its own secure PIN and your account is protected by a password and username known only to you. Your virtual Visa card balance and transaction history can be viewed within this website by simply registering your virtual Visa card and creating an account. Click “Register your card” for step by step guidance on how to register your virtual Visa card. When logged in to your account, click on the “Make a Top Up” tab and select a debit card from the drop-down list. Follow the onscreen instructions to complete your top-up, which will usually take effect immediately. Please note that until further verification checks have been made (which usually takes 2 working days), you will not be able to use your newly topped up virtual Visa card for some transactions. If you are a UK resident, you can top up your virtual Visa card by using Paypoint. Simply present your card to the cashier and pay the amount you want to top up in cash. Your card will then be credited with the top-up amount, and a fee (not exceeding the maximum amount set by the FCA) will be deducted from your account balance. You may have the option to set a spending limit to your virtual Visa card(s) at the time of registration. However, if you wish to do this or make changes to a spending limit at a later date, you can simply follow the instructions found under “Manage Cards”. All virtual Visa card customers should read the terms and conditions, which cover the limits of your liability for unauthorized transactions and contain details of our reporting lost/stolen card procedures. In the event that your virtual Visa card is lost or stolen, or you suspect that an unauthorized transaction has taken place, it is important that you contact us immediately. You can report a card as lost or stolen with Card Services 24 hours a day, 7 days a week – please see our Card Services section for contact details. Thank you for choosing our virtual Visa card, and we hope that you will enjoy the convenience of shopping on the internet without the concern of using your ‘everyday’ debit or credit card. If you have any further queries, please visit our FAQs section or contact a member of our Customer Support team on 0330 123 3921.

4.1. Checking your virtual Visa card balance

Also you can check your virtual Visa card balance. Remember, unlike checking your Visa debit card balance that is directly connected to your bank account, virtual Visa card balance is not checked using regular ATMs or a point of sale machines. All virtual Visa cards are created by a Visa card generator, they are usually for a one-time use or open for reuse after you have made a payment. So virtual online Visa card balance is only checked online. The Visa card generator usually hides the first 12 digits of the card number then shows the last 4 digits so that you can use it to make payment without sharing your financial details with the merchants. The credit card generator also gives you the CVV code and the expiry date of the virtual card. All these details will be required when checking the Visa card balance. To check your virtual Visa card balance, log in to the online account that is linked with your virtual card and there you will see the available balance. You can also call Viabuy customer service using the contact number on their website for further check and support.

4.2. Adding funds to your virtual Visa card

When you need to use your virtual Visa card service for online payments, you need to ensure that the card has enough funds loaded onto it. Funds are added to your virtual Visa card through the ‘Load Card’ option within the ‘Manage Cards’ section of your account. To do this, you are going to select the currency that the card is denominated in and, based on the range of loading options for that currency, select the funding source that you are going to use, which may be a debit or credit card that you have registered to your account or a bank transfer. It’s important to remember that when you top up your virtual Visa card, you should get a payment confirmation screen and, as a result, you should not submit the payment again or reload the page. However, it may take a few minutes for your account to be updated and for the funds to appear in your virtual Visa card balance. If you are using a debit or credit card to add funds to your virtual Visa card, the name and billing address you use for the card must match exactly those registered to the card itself. This is a security feature introduced by the card scheme providers to ensure that funds are not fraudulently loaded onto cards by unauthorized persons. If you use a different address for the card, which is different from the address you have registered with your virtual Visa card service account, the payment may be rejected by your card issuer and this will result in the funds not being loaded onto the card.

4.3. Setting spending limits on virtual Visa cards

A higher credit limit will allow you to make more expensive payments and purchases, but remember – it might take longer to pay off the money owed!

You’ll then be asked to authenticate the card before the change goes live, which means re-entering the security code on the back of the card. This is an important part as it makes sure that only the account holder, who should have access to the physical card, can amend the credit limit of a virtual Visa card.

To change your spending limits, you simply change the credit limit for the virtual Visa card. This can be done by going to the “Manage My Cards” section of the website and clicking “Update” underneath the “Credit Limit” column for the relevant card.

When verifying your account, you’ll be asked to accept some terms and conditions of the virtual Visa cards service. The credit limit is pre-set to be the maximum spending limit on your virtual Visa card. You can set this to be lower at any time, but you cannot exceed it!

4.4. Reporting lost or stolen virtual Visa cards

To report a virtual Visa card lost or stolen (a “lost card”), you may contact the Virtual Visa Card issuer by calling (866) 345-4520. The issuer will require the following information to process the report: a) your name and complete address; b) a telephone number where you can be reached during the day; c) the full 16-digit virtual Visa card number and the expiration date; d) a description of the facts surrounding the loss of the virtual Visa card; e) the date the loss was first detected; f) the number of virtual Visa cards at issue; and g) your initials, which will serve as your electronic signature to authorize the report. Upon receipt of a complete and accurate lost card report, the issuer will investigate and, if appropriate, transfer any remaining balance from the reportedly lost or stolen virtual Visa card to a new virtual Visa card. Only the person in whose name a virtual Visa card is issued may report it lost or stolen. Also, reports may not be accepted from third parties, and you may be required to provide additional evidence showing that the lost or stolen virtual Visa card is, in fact, in your name. The issuer shall not be liable for failing to cancel a lost or stolen virtual Visa card by the time any remaining value on the virtual Visa card is depleted as a result of unauthorized uses. Issuer’s liability for losses caused by unauthorized usages on an active virtual Visa card (and therefore not on a reportedly lost or stolen virtual Visa card) will be subject to the provisions of section 4.5.

5. Security and Fraud Protection

The virtual Visa card services package comes with many security features to ensure that the Visa card user’s money is safe. Some of these security features include the use of security codes that are like personal identification numbers. These features have been made standard to all the different types of virtual Visa cards. The security code feature is quite recent and was set up to curb credit card illegal transactions that are common in the online crime world. When making purchases online using the virtual Visa card, the Visa card user is normally required to enter the security code of the respective virtual Visa card. Most fraudulent people or conmen thrive on obtaining personal data of innocent people and using it to rob them of their money. It is crucial for a Visa card user to be extremely cautious on where and how they provide personal information. The virtual Visa card number and the security code should not be given to anyone. In order to prevent fraudulent activity, Visa card users should avoid exposing these two card information to all the public spaces. This is because anyone who gets to see this information can easily make a purchase online and the money shall be deducted from the virtual Visa card balance. Nevertheless, there are many ways through which one can recognize fraudulent activity and reports immediately to the respective card issuer. First and foremost, in case one notices that there are purchases that were never authorized by oneself, it should be a cause for concern. Such information should be reported to the card issuer immediately. Modern virtual Visa…

5.1. Virtual Visa card security features

Our virtual Visa card service employs a wide range of security features in order to offer users a secure environment. When you apply for a virtual Visa card, there is no need to roam about. You can sign up, place funds into your card account, and then utilize it like a credit card online without turning up to pick up the physical Visa card. First, a virtual Visa card is not a physical card; you can’t touch it. The potentiality of losing it or of getting in touch with someone who might steal the data on the card is completely ruled out. The Visa card service also renders a digital card for those who own a verified Visa account. To deal with your account, you will be required to sign up for a Visa account and then log in, making it easier to employ the Visa’s account area. Juxtaposed to the physical Visa card where you can go to the ATM to disburse funds, the virtual card service provides an online payment process that is more secure and safe. Before the actual process, you will first go through the virtual Visa card application process, which follows these steps: you will be required to input your personal information such as names, contacts, address, and employment details.

5.2. Protecting your virtual Visa card information

– Install a personal firewall that is set to prevent uninvited connections from reaching your computer. – Perform regular updates for your computer, handheld devices, internet browsers, and any internet security/anti-virus software. – Recognize and guard against phishing scams. Phishing is a fraudulent attempt to gather personal or financial information from you, often by using email or fake websites. Visually, phishing emails and websites can look like they are genuine and from legitimate companies. So it is important to be aware of their tell-tale signs and not click or open anything that could lead to the download of malware. Phishing emails and websites may include spelling mistakes and bad grammar; messages that ask you to submit financial details; being asked to click on a link or open an attachment; being asked to provide personal information; deliberate scare tactics and pressure. If you have any sort of concern or doubt about the authenticity of an email then do not respond to it, do not click on any links in the email, and do not open any attachments to the email. If in doubt, always contact the company that the email is claiming to represent. Please ensure that you follow the contact details listed on the company’s official website or another piece of official correspondence from that company.

Digital Security Tips for Consumers:

Make sure that your computer’s firewall, anti-virus, and anti-spyware software are up to date. And, only download software from a known and trusted source. Establish a routine where you ‘clean up’ your devices to ensure that you remove any data that you no longer need. This is because fraudsters can use personal information that is stored on your computer’s hard drive.

Not only is it important that you understand the security features of your virtual Visa card, it is also important to keep all card and personal information safe from fraud and theft. Virtual Visa allows you to generate single-use Visa cards anytime you want to make a purchase. Each virtual card has its own card number, its own card expiry date, and its own card security number. But protecting the details of the regular Visa card that is linked to your virtual Visa card is just as important because all the virtual cards that are generated from your regular Visa card will be unusable if the details of your regular Visa card are compromised. Here are some helpful tips to keep your virtual Visa card information safe:

5.3. Recognizing and reporting fraudulent activity

Companies around the world are constantly being attacked by fraudsters and it is important to recognize some of the more common types of fraud that can affect your organization. Activity that involves creating a false impression of the financial position of a company can put stakeholders at risk. For example, if your company’s assets or revenue have been exaggerated, it could attract investors or persuade lenders to advance more money than is prudent. A common method for manipulating financial statements is to fraudulently overstate revenue. If this has happened, it may have been achieved through a fictitious sale – but be aware that these can take many forms. For example, a fraudster may create a non-existent customer, or they may bill genuine customers but give a discount and keep the extra money for themselves. Alternatively, they could create a fake invoice for services that have not been delivered and pocket the cash when the money comes in from the customer. Any method will share the same aim – the revenue from a genuine sale. These fictitious sales, if they exist, will lead to an increase in the accounts receivable shown in the financial statements. Also, if this has happened, be alert to potential loan fraud. If your company has taken out a loan that is repaid based on revenue, it is feasible that the loan company has been defrauded as well as your organization. If there is evidence that employees from within the company itself are committing fraud, it is known as internal fraud. There are many types of internal fraud, from fictitious payments to fraudulent applications for loans in other people’s names. It could also be the case that workers have submitted fabricated expense claims or created ghost workers who do not exist, and have siphoned off their wages for themselves. Fraud, which involves third parties and your business, is known as external fraud – and can manifest itself in several ways. For instance, criminals might buy goods from your company using stolen credit cards – called fraudulently induced transactions. Alternatively, they might send items which are counterfeit or of a lesser value back to your business for a refund.