Digital technology is becoming an increasingly important part of our daily transactions. The proof: online purchases already represented more than 112 billion euros of sales in France in 2020¹. Securing your banking data on the Internet is therefore a major challenge for consumers. Do you know the virtual payment card? It offers many advantages to avoid the risk of online fraud. How does it work and where can you get one? You will know everything at the end of this article!
What is a virtual payment card?
There are two types of virtual cards:
- The “e-cards” generating single-use codes on demand;
- Reloadable virtual cards.
The e-Card, to secure your payments
This type of virtual card is one of the additional options offered by banks to secure their customers’ online purchases. Linked to the bank account, the e-Card works with a software to be installed on the phone, tablet or computer. For each payment, the software generates ephemeral data (card number, validity date and cryptogram) allowing to pay the purchase on the Internet without having to enter the real numbers of the physical bank card. These coordinates are used only once and are no longer valid once the transaction is completed. This way, in case of data hacking, the criminal will not be able to do anything with the numbers he has intercepted. Your bank account is perfectly protected!
The reloadable virtual prepaid payment card, to simplify online payments
This second category of virtual card takes the form of a dematerialized payment card, usable via an application and reloadable at will. Like a traditional card, it has a 16-digit number, a validity date and a cryptogram. However, it is not physical and only allows you to pay on the Internet. Stored in your online customer area, it facilitates and secures online payments thanks to data encryption and the 3D Secure system. The Mastercard prepaid card, for example, is available in a virtual version, intended only for Internet payments. Online shopping, gambling and sports betting enthusiasts can use it to pay their expenses on the Internet, without any risk of fraud.
How to use a virtual bank card?
You have subscribed to the “e-carte bleue” option with your bank to secure your online payments and you wonder how to use it? Follow the guide:
- Choose the “e-Card” or “virtual card” option at the time of payment
- The corresponding software will open in parallel
- Enter the desired payment limit (e.g. the value of the purchase)
- Enter the desired expiration date of the card
- You will receive temporary bank details
- Enter these data in the fields provided on the website
- Confirm your payment!
Please note that with the e-carte bleue software, you can generate as many virtual bank cards as you want. You can also generate contact information that can be used for several purchases, or on the contrary, you can choose single-use contact information. This last option is the most prudent. Once the payment is validated, the numbers used expire automatically and you have no risk of being hacked!
Be careful not to buy subscriptions with your e-Card: as the card details are ephemeral, regular withdrawals are not possible. Also avoid buying train or plane tickets that require the presentation of the payment card to withdraw them. Remember that the numbers generated are used only once and then deactivated.
As for the reloadable virtual bank card, it is used like a classic payment card for your online payments, via the associated application. To make a payment, all you have to do is access your application or your customer area on the supplier’s website to retrieve the numbers, expiration date and cryptogram. With this type of card, only the amount previously loaded on it is available. If the balance on the card is not sufficient, the payment is blocked. You can recharge your virtual card via bank transfers or via the purchase of recharge coupons online. The prepaid virtual card Mastercard is for example reloadable up to a ceiling of €10,000.
Want to know how to get a virtual bank card to secure your online payments? If you have a bank account, all you have to do is ask for the “e-carte bleue” option, which gives you access to the software that generates ephemeral contact details. This option is charged by some banks, and offered free by others. As for reloadable virtual cards, they are available without a bank account and are accessible to all without any income term. You can find them online from specialized suppliers, for example PCS.
