What is a digital (virtual) card?

A digital (virtual) card is an electronic form of plastic bank or credit card that exists solely in digital format and is used for online transactions. Here are the main characteristics of digital cards:

Electronic Format: A digital card does not have the physical form of a plastic card. It is a digital file that can be stored in the bank's mobile app or e-wallet.

Online Transactions: The main purpose of digital cards is to provide secure online payments. With all the necessary details such as card number, expiry date and security code, the user can shop at online shops or make other online transactions.

One-time and Temporary Numbers: Many digital cards offer the ability to generate one-time or temporary card numbers. This provides an extra layer of security, as these numbers can only be used once or during a specific period.

Security: Digital cards have additional security measures such as inbuilt encryption technologies and biometric authentication to confirm transactions.

Management and Control: Users can easily manage their digital cards through banks' mobile apps or e-wallets. This includes locking/unlocking the card, setting limits and tracking transactions.

Virtual Wallets: Digital cards integrate with virtual wallets, allowing you to easily use and store multiple digital cards in one app.

Instant Payments: Digital card transactions are usually instantaneous, making them convenient for online payments and quick transactions.

Digital cards are a modern and secure way to conduct digital financial transactions, and their popularity continues to grow due to the increase in online transactions and digital payment systems.