What is a virtual debit card?
Virtual debit card is a tool that can be used instead of a conventional debit card. With this type of system, a new credit card number will be generated for users every time they make a purchase. A virtual debit card is a good way to protect financial information, it is comfortable and helps individuals to limit their responsibility.
Virtual debit cards offer more and more financial companies. If an individual wants to make a purchase with a virtual debit card, the company will provide him with a unique debit card number that differs from the number on his real debit card. The individual can then use this debit card number to make a purchase and the purchase will be connected to his account.
The primary purpose of this type of debit card is the protection of financial information. When using this type of virtual debit card, the individual will not need to issue any personal data to the company. He or she may persist in this new credit card number and the transaction will be processed. That significantlyReduces the chances that someone will be able to steal numbers from the debit card.
Although this process may sound complicated, it is very simple. The process usually includes a user who remembers the personal identification number (PIN) to identify. If there is a merchant that receives this type of debit card, the user will enter the PIN form and the debit card number will be generated. The individual can then use a new debit card to buy as well as he or she with a regular debit card.
One of the great advantages of using a virtual debit card is that it significantly limits the responsibility of the individual that uses it. With a traditional debit card, an individual may be responsible for $ 50 (USD) if he reports the incident during the first two DNESTR. If an individual does not report an incident within 60 days, it could have unlimited responsibility for any fraudulent purchases made from the card.It won't be with a virtual debit card. When people use virtual debit cards, they will not have to worry about returning the amount of money.