A virtual credit card is a digital version of a traditional credit card. It is stored in a mobile app or digital wallet and is primarily used for secure online purchases and contactless payments via smartphones. The card has no physical form, making it easy and convenient to make payments without using a physical card.
A virtual card functions like a standard payment card but without a physical component; it exists only digitally. Virtual cards contain standard card details such as a 16-digit card number, a 3-digit CVV code, and an expiry date. All necessary information is available directly in the bank's app. To use the card, simply open the app on your mobile phone, select the card details, and make payments digitally without needing a physical card.
The card number on the virtual card is the same as on your physical card, along with the cardholder's name, the card's expiry date, and the security code (CVV).
When shopping online, you can easily find all your credit card details within your bank's app or online banking service:
Virtual credit cards are primarily designed for online shopping and cannot be used directly in physical stores. For in-store purchases, you can use either a physical card or contactless payment options that allow you to store information from both physical and virtual cards on devices such as mobile phones and smartwatches, using payment services like Google Pay, Apple Pay, and Samsung Pay.
Technically, it is impossible to get a physical credit card on the same day. Once your credit card application is approved, it usually takes a few business days to receive the physical card by mail.
But how long does it take to get a virtual credit card? Since a virtual credit card is a digital version of a card, you generally do not have to wait long. Access to a virtual credit card can be almost immediate after you sign the credit card agreement. If you have an account with a bank or financial institution that offers virtual credit cards, you can often create and access a virtual card via the bank’s online banking platform or mobile app within minutes. This makes virtual credit cards a very fast and convenient solution for online purchases and other digital payments when you need a credit card on the same day.
Virtual cards are ideal corporate cards for situations where multiple employees need access to payment methods, as there is no physical card that must be handled by only one person at a time. The multi-user functionality allows companies to issue cards to employees for specific purchases or projects, providing better control and oversight of expenses. This applies to everything from booking business travel and office supplies to paying for digital advertising. With virtual cards, all transactions are consolidated onto a single invoice. This simplifies the process of tracking expenses and makes it easier for companies to gain a comprehensive overview of their finances.
Bank cards—also known as debit cards—are also available as virtual cards. Much like virtual credit cards, a virtual bank card is a digital version of a physical bank card. Virtual bank cards can easily be added to various digital wallets, such as Apple Pay, Google Pay, and Samsung Pay. When this is done, the bank cards are transformed into virtual cards. A virtual bank card allows the user to conduct online transactions without needing a physical card.
Curve and Revolut are two card issuers that offer virtual debit cards. These cards combine the flexibility of a virtual card with the functionality of traditional debit cards, allowing users to link them directly to their bank accounts for easy access and use.
Digital single-use cards—also known as virtual single-use cards—offer a unique security feature: the card details are updated for every transaction. This means that a new card number, expiration date, and/or CVV code is generated each time you make a purchase. This makes it very difficult for fraudsters to misuse the card information, as the details change immediately after use.
Such cards are particularly useful in situations with a higher risk of fraud, such as when shopping at new or lesser-known online stores. They are also ideal for subscription services where you want to avoid unwanted renewals or additional charges, since the card cannot be charged more than once. By using digital single-use cards, you can shop online with greater peace of mind and control.
Digital multi-use cards function as direct replicas of physical cards, with card details—including the card number, expiry date, and CVV code—remaining unchanged. These cards are stored in digital wallets or mobile banking apps, allowing users to easily make both one-off and recurring payments online, as well as in physical stores that support contactless technology. Digital multi-use cards are particularly useful when you want to minimize the risk of losing your card or having it stolen, as a digital card cannot be lost. They are also ideal for those who shop regularly at established online stores or use digital payment services like Apple Pay or Google Pay for contactless in-store payments.
