What is a virtual bank card?
As its name suggests, it is a digital payment method that allows you to pay for your purchases on the internet, without having to provide the actual card number. The principle is simple: create a digital card with a certain credit amount. The card has a unique number. This number is transmitted to the merchant. In case of fraud, hacking or phishing, your bank account is not at risk in any way. E-cards are now available from banks and through neo-banks. Some used e-card technology as a key selling point. Take MANAGER.ONE.
E-cards for professionals.
Launched in 2017, the banking platform, MANAGER.ONE, is reserved for professionals and business leaders. The online bank has developed a whole range of services for corporate clients: intelligent expense report management, remote expense authorization (according to country, time zone, retailers and more), and unlimited virtual bank cards. There are two types of cards: single-use, intended for a specific expense or transaction such as subscriptions or payment of a large sum; and payment limited cards, which can be rendered obsolete once the limit is exceeded. And they’re ultra-secure. So much so that you might question the need for physical cards.
Will virtual cards replace our plastic cards?
They still need fine-tuning. E-cards are reassuring for planned transactions, but are less convenient for impulse or emergency purchases – they have to be created before they can be used. The other issue to be ironed out is status: your bank card says a lot about you. Neo-banks and new players in banking made no mistake when creating and coming up with imaginative, technological and ethical designs to slip into our bags and wallets