Day after day, organizations and individuals rely on credit cards to run their business and personal transactions because they are faster and easier to use than physical cash or checks. As a result, most financial transactions occur without actual cash exchange by using funded cards that contain the amount of money needed for a transaction.
However, for many online transactions, revealing the credit card details online may not be the safest route available. Instead, a virtual card may be a better and easier alternative.
With many more businesses going digital, the most feasible payment solution for most online payment transactions like Starlink is with a virtual payment card.
Just pause for a moment, and think of a life where your online payments and business transactions are not restricted by spending limits on your regular naira debit card.
With your virtual cards like Changera virtual cards, you can even spend above $10,000 per month. This way, you can easily make online payments, renew subscriptions, and perform your business transactions in the easiest way possible.
Now, you’re probably wondering how this all works. Thankfully, this article explains all there is to know about virtual cards, how they work, and what benefits they offer you.
What are Virtual Cards?
In plain terms, a virtual card is a digital card. Although a virtual card has almost all the details that a physical card possesses, the major difference is that you don’t get to hold or touch it. Hence, the name ‘virtual’.
The virtual card comprises a temporary 16-digit card number, a CVV, and an expiry date. In other words, these virtual cards work exactly like your physical bank card, just that it only lives in the digital wallet on your mobile device instead of your physical wallet.
Also, it is important to note that your virtual card offers a safe and convenient way to pay for online services because it is secured by digital encryption.
In fact, platforms like Changera and Bitmama also offer Two Factor Authentication (2-FA) features that work to protect your funds.
Benefits of Having A Virtual Card
As we mentioned earlier, most virtual cards are not limited by spending limits on normal debit cards for international transactions. In addition to this, you can also enjoy the following benefits with a virtual card:
- It saves you from the inconvenience of carrying your physical card around
- You can easily and instantly lock and unlock your virtual card from your mobile device at any
- Your card is instantly activated and you do not need to wait for it to arrive in your mail over a period of
- You can pair your virtual card to your mobile device and even your mail to get alerts on all account
Do Virtual Cards work on Starlink?
Starlink is the fast-rising internet service provider owned by tech entrepreneur, Elon Musk. Starlink provides internet access/services in over 48 countries with Nigeria being the first African country to enjoy its benefits.
f
In the past year alone, Starlink launched more than 2,000 satellites, and 1,500 are in operational orbit as of January 2023. These satellites make it easier for rural areas and places unable to be serviced by regular service providers to have internet access.
Starlink is renowned for its impressive internet speed of 104Mbps, a sharp contrast to the average cellular internet speed of 17.38Mbps.
However, Starlink can only be purchased by people with virtual dollar cards for now. See how to pay for starlink in Nigeria.
This is because all payments for the purchase and maintenance of this equipment can only be made in dollars and the Government has restricted most foreign transactions through local banks.
With the current restrictive limit on Nigerian cards, paying for the service may be challenging. Thankfully, virtual cards work for Starlink payment.
What Other Services Do Virtual Cards Work For?
One of the major questions that might have crossed your mind while reading this article would be if there’s any limit to what virtual cards can do.
Of course, virtual card owners use their cards to carry out online transactions. In other words, almost all transactions that happen online work with virtual cards.
In addition to this, do you know that you can make cash withdrawals from ATMs with your virtual card?
Yes, you can. As long as the ATM supports contactless transactions. For this, all you need is your digital wallet and a virtual pin.
Also, with your virtual card, you can;
- Make instant payment
- Make online purchases
- Withdraw Cash
- Even buy
- Pay for streaming platforms like spotify, apple music, netflix
Can Virtual Cards be used for Point of Sales (POS) Transactions?
No, virtual cards cannot be used at a POS terminal. This is because virtual cards can only be used online for making payments on E-commerce or merchant websites or payment gateways without any physical demands.
The Takeaway
Although physical debit cards are still relevant today, virtual cards may be the next big thing. This is especially true for companies that regularly transact with vendors and suppliers.
Virtual cards are also more secure and can analyze how much your company spends and where the money goes. As an individual with a virtual card, you do not need to be restricted by the unavailability of cash at hand and the inconveniences that come with going about with your physical card in your wallet. If you’re thinking about how to pay for Spotify in Nigeria, Netflix, Apple music, how to pay for Facebook ads in Nigeria and other services, the Bitmama and Changera virtual cards have you covered.
With your virtual card, all online-related transactions are just at your fingertips.
