The Basics of Virtual Cards: What are virtual cards, how do they work, and what are the benefits of using them?

Virtual Cards: The Secure and Convenient Way to Pay Online

Have you ever been worried about your credit card information being stolen when you make an online purchase? Or maybe you've been hesitant to sign up for a new service because you don't want to give out your credit card number. If so, then you're not alone.

Virtual cards are a great way to protect your privacy and security when making online payments. They're also a convenient way to make recurring payments.

What are virtual cards?

Virtual cards are a type of payment card that exists only in electronic form. They're not physical cards that you can hold in your hand, but rather a set of numbers that can be used to make payments online or in-app.

How do virtual cards work?

When you create a virtual card, you're given a unique card number, expiration date, and CVV code. This information is used to make payments online or in-app.

The best part about virtual cards is that they're disposable. Once you've made a purchase, the card can be deactivated and cannot be used again. This makes it very difficult for hackers to steal your credit card information.

What are the benefits of using virtual cards?

There are many benefits to using virtual cards, including:

• Security: Virtual cards are much more secure than traditional credit cards. They cannot be skimmed or lost, and they can be easily cancelled if they are compromised.
• Convenience: Virtual cards can be generated on demand and used for specific purposes. This makes them perfect for online shopping, making recurring payments, and testing new services.
• Flexibility: Virtual cards can be used for a variety of purposes. You can use them to protect your privacy, track your spending, or avoid fraud.

How to use virtual cards with spend limits to budget

There are a few different ways to use virtual cards with spend limits to budget. One way is to create a separate virtual card for each budget category. For example, you could create a virtual card for groceries, one for entertainment, and one for travel. This will help you to keep track of your spending and make sure that you're not overspending in any one category.

Another way to use virtual cards with spend limits to budget is to set a monthly budget for yourself. Once you know how much you're allowed to spend each month, you can create a virtual card with a spend limit that matches your budget. This will help you to stay on track with your spending and avoid overspending.

Here are some additional benefits of using virtual cards with spend limits to budget:

• They can help you track your spending more easily.
• They can help you avoid fraud.
• They can give you more control over your finances.

Yondr's Virtual Card Solutions

Yondr offers virtual card solutions that can help you protect your privacy and security when making online payments. Our virtual cards are:

• Secure: Our virtual cards are protected by industry-leading security measures, including encryption and tokenization.
• Convenient: Our virtual cards can be generated on demand and used for specific purposes.
• Flexible: Our virtual cards can be used for a variety of purposes, including online shopping, making recurring payments, and testing new services.

If you're looking for a more secure, convenient, and flexible way to pay online and budget, then a virtual card with a spend limit is a great option.

We hope this article has helped you understand the basics of virtual cards with spend limits and how they can benefit you.

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Things you should know

YONDR MONEY Pty Ltd ABN 11625732569 holds AFSL number 545391 and is authorised to provide general financial product advice to retail and wholesale clients. Any advice you receive from Yondr is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is suitable for you and your circumstances. Before you make any decision about whether to acquire a certain product, you should obtain and read the relevant product disclosure statement