In 2021, Americans lost almost $6 billion due to fraud. Inventive strategies from scammers, plus the continued threat from hackers, have left most of us feeling somewhat nervous about our finances.

That’s led┬ámany customers to turn to virtual payment cards. Virtual payment cards are online cards without the traditional physical plastic in your wallet.

There are many compelling reasons why virtual cards are a smart option for online purchases. Here’s a look at the top five benefits of switching to virtual payment cards.

  1. They Offer Fantastic Security

Do you want to protect yourself against theft and fraud? Then virtual payment cards are the way forward.

They offer superior security to the more traditional bank cards as they are difficult (perhaps impossible) for fraudsters to clone.

Payment limits on virtual cards also allow you to minimize any impact from theft. You won’t have to worry about losing thousands of dollars from your main bank account.

  1. Easy to Use

You don’t need technical know-how to use virtual payment cards. And you don’t need to go through the hassle of waiting for a physical card to arrive in the post and the often complex procedure to activate the card.

You can set up a virtual payment card in minutes. Head to the card provider’s website, fill in the form, confirm your email address, and you’re ready to use your card! Click for more information on applying.

  1. They Are Global

Online e-commerce has knocked down country borders – at least virtually. Now, it’s easy to head to any website, choose your product, get the price converted to your local currency and make the payment.

However, some card providers still have limits on how you can use your bank card overseas. That’s not the case with virtual cards. They are accepted globally.

  1. They Help You Manage Your Finances

Do you have trouble sticking to a monthly spending budget? Virtual payment cards can help here. You can set a limit for the card, preventing you from overspending.

And the easy access to your transactions means you can keep an eye on what you spend and where your money goes. Perhaps it’s time to stop buying those daily coffees!

  1. You’ll Avoid Forgotten Monthly Subscriptions

Have you ever noticed a charge on your account for a subscription service you forgot you’d purchased? That is increasingly common.

Once a vendor has your details (if you’ve checked the relevant boxes to say you agree to the subscription), they’ll keep charging your card monthly.

That is problematic if you forget you paid for it and find you don’t need the subscription anymore. With virtual payment cards, the power is with you, and you won’t have to worry about unexpected future transactions.

Virtual Payment Cards: The Future?

With so many fantastic benefits of virtual payment cards, it’s easy to see why increasing numbers of customers switch. They are the future of online shopping, providing a safe and convenient way to buy online.

Learn about other recent innovations that have the potential to transform your life by checking out our technology section now.