the "virtual card" of a bank card is a virtual account number derived from UnionPay, VISA and MasterCard BIN codes on the bank card. The virtual card is mainly used for online payment without a card. Like a physical card, the virtual card of a bank card can be divided into two types: a virtual credit card and a virtual debit card.
The following are the differences between a virtual card and an ordinary credit card:
1. Usage time: Ordinary credit cards have a time limit, and the usage period is 3-5 years. After the expiration date, the credit card will be replaced. The virtual credit card account is divided into two situations, one is one-time use, and the other is recharging and continuing to use.
2. security: because the virtual card has no physical form, it is only an account number for online transactions, so it can effectively prevent the card number and security code from being copied, reduce the risk of stealing, and be more safe and reliable to use.
3. Application method: The application method of ordinary cards is complicated, and most of them have to prepare a lot of materials and go through a long wait, while the application method of virtual cards is very convenient. You can apply by calling bank customer service or logging in to the official website.
if the user uses the virtual credit card to spend money at ordinary times, he must repay the arrears on time within the specified time, and there can be no overdue situation. Usually, it can be used through bank counters, online banking, mobile banking, third-party payment platforms, etc. It is worth mentioning that repayment by third-party platforms may require a certain handling fee.