Revolut Virtual Cards: Secure and Convenient Online Payments

1. Introduction

Revolut is a UK-based financial technology company that offers customers a prepaid card or a debit card. The cards are equipped with the latest security features and are accepted worldwide. A virtual card, also known as a disposable card, is a digital prepaid card that can be used to shop online. Instead of being issued as a physical plastic card, a virtual card is issued electronically. The main account holder can request a virtual card through the Revolut app. It takes less than a minute to generate a new virtual card, allowing you to use it straight away for online purchases. Revolut’s virtual card is a free feature provided with all Revolut accounts. It can be accessed and used directly through the Revolut app. Unlike the static 16-digit card number and 3-digit security code printed on the back of a physical card, virtual card details are randomly generated for each new payment – adding an extra level of security. Virtual card details can be created, locked, and disposed of all in real-time, giving the account holder ultimate control over online payments and minimizing the risk of fraud.

1.1 Benefits of Revolut Virtual Cards

Finally, Revolut virtual cards can provide an extra layer of protection against certain types of online fraud, due to an additional security measure called 3D Secure. 3D Secure works by adding an additional, user-authenticated step during the online checkout process, which has been shown to significantly reduce the likelihood of fraudulent card use by verifying that the person attempting to make the payment is the genuine cardholder.

Secondly, Revolut virtual cards can be easily managed in the app. This includes the ability to freeze and unfreeze the card instantly if the user is concerned that it may be misused. In addition, users have the option of being able to view a virtual card’s three-digit security code in the app, without having to physically have the card or type in the entire card number. This is perfect for scenarios where the user is making a one-off online purchase and does not have access to their main payment cards, as the entire process can be completed from a smartphone. Also, users’ card number details are never permanently stored by online shops and are only used in the transaction process. This provides a high level of protection against potential misuse of card details from a data breach of an online retailer.

Revolut virtual cards offer many advantages over using physical payment cards or relying on other methods of online payment. First of all, a virtual card is issued instantly and can be used immediately after creation. This is in direct contrast to physical card issuance, which can take several days, and even when the physical card does arrive, it still needs to be activated before use. This not only saves time but also makes it very convenient to use, as users do not need to plan ahead and make sure they have a card in advance of making an online purchase.

1.2 How Revolut Virtual Cards Work

A Revolut virtual card works in much the same way as a physical card, giving you an extra layer of security when you spend online. Virtual cards can only be used for online or over the phone purchases, and they are managed by the main account holder. Cards are made available to order straight from the Revolut app. When the card is generated, you will see the long number, as well as the expiry date and CVV, on the card itself. You will also be able to see other details like the cardholder name and multicurrency functionality, which can be found on the back of the card. When making a payment, you will be asked for the 16-digit card number, the expiry date, and the CVV, just like when you use a physical card. The difference with a virtual card is that the details on the card in the app automatically update after each transaction. If the card is used fraudulently, you can simply lock it by going to the ‘Cards’ section of the Revolut app and selecting the relevant card of choice.

1.3 Security Measures for Online Payments

Revolut virtual cards use disposable virtual card details for each new online purchase. A user can freeze a card immediately from within the Revolut app. Each time a payment is made online, a unique 16-digit card number, security code, and expiry date is randomly generated by the system. This means that even if the details are intercepted during a transaction, they cannot be used for subsequent transactions. As an added layer of protection, Revolut also allows users to disable contactless and swipe payments as well as online payments and ATM withdrawals. All of these can be switched on or off easily from within the app, giving users complete control. Finally, in the event that a payment is declined by Revolut (either due to insufficient funds, suspected fraudulent activity, or other reasons), a notification is pushed to the user’s phone immediately, providing instant visibility and reassurance to the user that their money and cards are being actively protected.

2. Setting Up Revolut Virtual Cards

Once you have downloaded the Revolut app and created an account, you must then top up your account with funds. This is relatively straightforward and can be done in a number of ways. After selecting ‘Top Up’, you can choose from either adding money manually, setting up a recurring payment via bank transfer, or linking a bank card to the account for an instant transfer. There is no fee for topping up your Revolut account. The next step in the process is generating a virtual card. As soon as your account is funded, users can begin the process of generating a virtual card that can be used for secure online transactions. A virtual card is still a valid digital form of a bank card, with details such as the card number, expiry date, and security code – known as the CVV – that are used to confirm the payment. However, the process of creating a virtual card is completely different from that of applying for a physical card. All users must do is select the option from the home screen in the app, pick from either a non-disposable or disposable card, and choose which card will fund the payment – provided that the user has more than one card linked to the account. Once the virtual card is created, users also have the opportunity to customize various settings. This can be done at any time under the ‘Cards’ section, where not only can users view their virtual card details and spending limits, they can also freeze the card if it gets lost or stolen and even change the currency of the card.

2.1 Creating a Revolut Account

Creating a Revolut account is a quick and easy process, and the Revolut app guides you through it by asking for the information it needs one step at a time. When you first open the app, you will be asked to give Revolut permission to use your phone’s location. This is so that Revolut can comply with regulations which require them to check that you are not a resident of the United States. After this, you will enter your phone number. Once you’ve entered your phone number, the app will send you an SMS to check that it’s really you. Revolut will automatically detect the SMS and enter the code for you. If for any reason this automatic code entry doesn’t work, you can enter the code manually by tapping ‘Can’t find a code?’. After this, you will be asked to enter your email address and create a password. Once you’ve done this, you’ll be asked for your home address and your full name. This is so that Revolut can check your identity and comply with regulations. Revolut needs to verify that you are who you say you are, and the app will tell you exactly what information you need to provide. Usually, all you need to do is take a photo of your driver’s license or other ID and then take a selfie in the app. Revolut’s anti-money laundering checks are completed digitally, making for a fast and efficient process. It took us about 5 minutes to have our account approved, and we were immediately given access to a virtual payment card number. This means that you can begin using your virtual card almost straight away, even though your physical card won’t arrive for a little while.

2.2 Adding Funds to Your Revolut Account

To add funds to your Revolut account, you first need to navigate to the ‘Dashboard’ tab. This can be found at the bottom of your screen. From here, you will be able to view your current balances for each currency account, as well as set up a new payment. To add money to your account from a different bank card, you need to click on the ‘Accounts’ button. Here, you will find a list of all the payment accounts and cards that are currently linked to your Revolut account. To add a new card or account, simply click on the ‘Add Account’ tab. This allows you to link a different bank card or account and transfer money between accounts. If you want to transfer money from a different Revolut account or from a friend, you need to follow these steps. From the ‘Dashboard’ menu, click on the ‘Payments’ button. Then, you need to select the ‘Bank Transfer’ option. This allows you to add a new payee or select a payee who is already on your list. After this, you simply enter the amount you want to transfer, as well as selecting the currency. This type of transfer usually takes around 2 hours but could take up to 1 working day. Revolut also allows you to add funds by making a regular bank transfer from your main bank account. To do this, select the ‘Accounts’ button from the ‘Dashboard’ menu, and choose which currency account you need to select. Every standard account that you can link will have a unique reference number. You need to provide this reference number and link your main bank account using this number in order to make a regular transfer. The last way to add funds to your account is by using a credit or debit card linked to your Revolut account. This is a quick and easy way to add money and can be done from the ‘Dashboard’ menu. Simply click on the ‘Top Up’ button next to the relevant currency account and follow the on-screen instructions. This method also allows you to save your card details to enable quick additional top-ups in the future.

2.3 Generating Virtual Cards

First off, sign in to your Revolut account on the app and get started. You’ll see a section called ‘Cards’ right at the bottom of the app with the image of a physical card right above it. Press that “plus” icon on the right-hand side of the cards and you’ll have the options to either create a virtual or physical card – you’re on the right track! Now, amid the excitement, remember that physical cards can only be made once they’ve arrived in the post (although they should only take a few days). For now, select ‘Virtual’ and then choose between the standard or disposable type of virtual card. Standard cards are what you’ll use to make regular, ongoing payments online – you know, things like subscriptions. On the other hand, disposable ones are good for those “I’ll never use this website again” moments, as sure you can give any site these temporary card details and use it straight away. Also, when the website you’ve given those details to inevitably gets hacked and the card details are taken, you can simply destroy the card on the app. Such a modern way of combating fraud. Anyway, select the type of card you want, and then you’re done! The card details will appear immediately, and you can use them to your heart’s content.

2.4 Customizing Virtual Card Settings

Once you have generated the virtual card you want, you can go into the virtual card settings and adjust a range of different security options. For example, you can lock your card so that no payments can be made with it until you unlock it again. This is particularly useful if you have lost your card and you don’t want anyone else to use it. If you find your card again, you can easily unlock it. Similarly, if your card is lost or stolen, you can report it directly from the app by pressing the ‘Report’ button, which will lock the card straight away. Then when you have found where the card is, you can press ‘Unblock card’ and the card will no longer be locked. This means you have complete control over your card and you don’t have to worry about any unauthorized use. This is a really useful feature, particularly as lots of banks require you to call and speak to someone in order to get your card locked. However, with Revolut, you can lock and unlock your card instantly at the touch of a button. In addition to locking and unlocking your card, there are a range of other security options that you can adjust. For example, you can change the PIN for your card by entering your existing PIN and then entering the new PIN twice. This means that if you think someone else knows your PIN, you can easily change it without having to order a new card. Also, you can change the type of online payments that are allowed with your card. For example, if you are going to use your virtual card to make a payment in a currency that is different from those allowed with the card setting, the payment will not be allowed. However, provided that the underlying funds are sufficient, you can change the setting for allowable currencies to ‘Allow payments for all currencies’. This means that you can ensure that your card is always valid, no matter what type of currency you want to make a payment in.

3. Making Online Payments with Revolut Virtual Cards

To start using virtual cards for online payments, you need to have one added to your account already. Should you require more than one virtual card, you can easily add multiple cards by accessing the ‘virtual card’ section from the app’s homepage. Next, simply tap the ‘add card’ button and the new virtual card will be generated and linked to your existing cards so that you can easily keep track of your spending. Once you have your virtual card ready, making a payment with it is very simple. Just go to the online merchant’s page, navigate to the payment page and enter the card details as usual – the card number, expiry date, CVV, and the cardholder’s name. Make sure that the details entered are the ones for the virtual card and not the physical card itself. When you select the ‘pay’ button to carry out the transaction, your bank will check the card details and then the payment will be made. After the first transaction, in many online shopping websites, a new function called ‘save this card’ will appear. This function allows users to save the card details for future transactions, making it easier and quicker to make payments in the future. When using all types of cards or payment methods for online purchases, it is important to watch out for added measures to ensure security and safety. For example, relying on secure sites with a padlock in the address and a URL beginning with ‘https’ and checking banking statements for any unknown or unexpected transactions. Revolut works with such security measures and provides features like being able to freeze and unfreeze cards, report any issues to the support center, and get instant notifications for every transaction made with the card – these precautions help to ensure that both physical and virtual cards can be used safely and securely.

3.1 Using Virtual Cards for E-commerce Transactions

On the other hand, merchants’ payment platforms use card testing to verify the card details of customers to ensure that their accounts are in order for processing transactions. Most fraudulent transactions go unnoticed by customers until their card details are used to make purchases. Making a transaction with a virtual card generates a temporary card number specific to that transaction which cannot be used for any other payment. If fraud happens in the future, the customer’s original card and its details are safe and not compromised. Most virtual card services include a feature to set a maximum spending limit per transaction. It is essential for customers to have a means of verifying the available balance on their card because if the card is declined due to insufficient funds, the customer could be “locked out” of that card for further purchases for a certain period while the merchant has the “held up” funds released back to their account. However, it must be noted that such controls do not guard against unauthorized transactions. Setting up a virtual card for e-commerce transactions is quick and easy. After selecting the ‘add a new virtual card’ option within the app, customers select the base card that will be used to fund the virtual card and the virtual card is created instantaneously. The entire process can take no longer than a couple of minutes. When the setup is complete, not only are the details of the virtual card made available for customers to use, the customer may also view the details of the virtual card and its spend management options as and when necessary. By comparison, setting up a traditional debit card for digital wallet payments like Apple Pay and Google Pay takes longer as customers have to go through a “verification process further down the line” when making a payment for the first time.

3.2 Linking Virtual Cards to Online Merchants

Traditionally, when you buy something online, you find a service provider, go to a proof site, and enter your card details. This is when many people turn into worried. We have all heard the horror stories about fraud. But with Revolut, linking your card information to online merchants is a thing of the past. In fact, the safety precautions that Revolut has put in place make it safer to shop online using a Revolut virtual card than using your primary card. When you first make a purchase with a new virtual card, the merchant’s name and logo will appear next to the transaction in the app, along with a reminder of the last 4 digits of the virtual card number. This can help you keep track of which virtual card is associated with which merchant. Over time, accumulating a list of merchants linked to each virtual card can make it easier to spot suspicious activity and manage your virtual cards effectively. Also, if you need to change the card that is associated with a particular merchant for any reason, you can easily do that through the app. You can delete the card and create a new one in seconds. The original merchant will then automatically use your new virtual card, and any recurring payments that may have been set up will continue running with a different card. So how do you link your virtual card to a merchant? First, simply use the virtual card details to make a purchase with the merchant, just like you would with a physical card. Then, the card will automatically be saved in your Revolut app under the ‘virtual cards’ tab, alongside any other virtual cards and your physical card. So it is only a simple two-step process, but it really makes managing your online shopping much easier.

3.3 Managing Virtual Card Transactions

I just checked the transaction again and it showed that the payment status has changed to completed. This should be an incredibly useful way in keeping track of the use of my virtual card, as I should be able to easily tell if there are any unusual transactions under my virtual card’s name.

I decided to make a payment with the virtual card to see what kind of information will be provided on the transaction. It was going to be a small payment and that the information of the merchant would be of no harm. After I made the payment, a transaction under the transaction column was created with the amount of £1.08 spent and the merchant’s name as “W.J. KING & CO LTD BMW”. Also, by clicking the view transaction button, details such as the transaction time in GMT, the last 4 digits of the card, and the transaction status were available. It would show up as “pending” immediately after making the payment and then change to “completed” sometime later. The pending status is likely to be used for cases where the merchant will take a period of time processing the payment.

Under section 3.3, the information regarding the virtual card’s transaction is limited, with only a transaction column and a view transaction button available. No information is provided in the transaction column, as it is an empty text box. I imagine that if someone were to make a payment with the virtual card, the transaction will show in this column with details like the amount of money used and the merchant’s name. By clicking the view transaction button, more details about each individual transaction will be provided.

4. Additional Features and Tips

The process is really simple and here are some instructions to get a virtual card and activate it with Revolut. First, you’ll need to open the Revolut app and tap on the ‘Cards’ section. Then, you can simply select the option to add a new card and a virtual card will appear on your screen with all the details. After that, you must select the option ‘Add card to Apple Pay’ and follow the instructions on the screen. Next, you should add the card to Google Pay by going to the Google Pay app and follow the instructions on the screen. A similar method is used to add a virtual card to Samsung Pay as well. After adding the card to Apple Pay, Google Pay and Samsung Pay, the virtual card is now linked and will use the same PIN as your physical card, so it is ready to go. If you need to deactivate the virtual card for any reason, you can simply go back to the ‘Cards’ section in your Revolut app and find the virtual card. Then, you can select the option to freeze or unfreeze the card, or simply remove the card details. There are many useful tips and features about the virtual card so that you can take the full advantage out from it. For example, if you are someone who spends a lot of money online or if you shop at websites that you’re not familiar with, you can add those cards to the disposable virtual card service. With the disposable virtual card, a new card is created every time you make a payment. This means that even if fraudsters were able to get hold of the card details which are often stored online by retailers, the card would be useless to them after the payment has been made.

4.1 Virtual Card Budgeting and Expense Tracking

Another feature heavily weighted in Revolut’s success is a virtual card budgeting feature for expenses made from virtual cards. In the Revolut app, each virtual card that you create will allow for real-time processing of transactions, and if you choose, the app will automatically put a cap on the budgets for specific types of expenses. For example, say you use a virtual card for all of your subscriptions and recurring costs – you can set a limited budget for this at the tap of a button, meaning you can have much clearer control over where your money goes on a month-to-month basis. The app will also provide real-time analysis of when and where you’re spending your money in comparison to your budget, so it’s much easier to keep track of spending habits. Bear in mind that the budgeting feature only currently supports expenses that register in the UK and tie in to the different cards available, but this is expected to expand soon. Additionally, in the case of lost or stolen virtual cards, the disappearance can be reported within seconds on the app. This allows for a much faster response to potential fraud, so you can rest assured that your money is safe. Thanks to virtual card expense tracking and other security features, users can get more out of their Revolut accounts than ever. Also, for peace of mind, you can disable any swipe card payments or contactless payments from your phone, and these changes will come into effect immediately.

4.2 Virtual Card Security and Fraud Protection

With Revolut’s innovative use of disposable virtual cards, users effectively minimize the possibility of online fraud. This security feature ensures that each virtual card is only valid for one transaction. What this means is that, even if your virtual card details are stolen, your account and main card details are not at risk – it is impossible to complete a transaction without possessing the physical card. Additionally, since virtual cards are managed and issued through the Revolut app in real time, you have complete control over them. For instance, if you suspect that your virtual card details have been compromised, you can instantly freeze that specific card from the app, without having to wait for a replacement in the post or go through the tedious process of canceling your main card and account. When using virtual cards for online purchases, it is essential to use your billing address to verify your virtual card transactions. This is because some online retailers require your billing address for security and verification purposes. You can find your virtual card billing address underneath the card details in the ‘Card’ tab of the app. Also, considering that the CVV number is located on the back of your physical card, it acts as the second verification measure during your virtual card purchase. Using this security feature through the app, you can either increase or reset your CVV security settings for your virtual cards as and when you see fit. Also, by ensuring that your main card details and virtual card details are kept completely separate and secure, the risk of fraud is significantly reduced when using virtual cards for online purchases.

4.3 Virtual Card Limits and Restrictions

Virtual card limits and restrictions are an acceptable term in a payment system which is applied on the transaction amount that can be made using a virtual card per day. All such limits can be configured online and prior to use the virtual card, and all limits can be changed online at any time. Also, there is another term “valid from” which means the date from which the virtual card can be used for online payment, not before this date. And the other term is “valid thru” which is applicable as the expiration of the virtual card and it is located on the front of the virtual card. This expiration date means the said virtual card can’t be used for any online payment transactions after this date. All the virtual cards and physical cards are sharing the same credit limit, and it is important that we should manage the credit limit properly. A virtual card can be delivered as active, and in this sense, all the security codes and other information are available to see. And the other term is a pre-funded virtual card which is a temporary card that can be issued instantly through the customer’s online card account, and it can be used for online or telephone purchases but not for the purchase made from a high-risk merchant. And only a person who is holding a suitable valid current account with the bank may apply for such a virtual card.