Written in FINTECH he
We are experiencing a growth of digitization in various activities of daily life, from the way we shop to jobs. And of course, the bank could not be left behind, which is why it offers the virtual credit cards, do you know them? If not, we will tell you the advantages and disadvantages of using them according to the National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF).
Banking institutions have had to modernize their financial products to attract new account holders, who wish to carry out transactions and movements of their accounts from their financial app without the need to physically go to a bank branch.
What is a virtual credit card?
One of these new products within financial institutions are the virtual credit cardswhich differs from the cards traditional to be totally virtualIn addition, you can only access it through your banking app. Other of its characteristics is that with this card You can pay in physical stores or online, since it also has a number, expiration date and verification code, so your purchases will be safe.
What are the advantages of using virtual cards?
According to the National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF), some advantages to use one virtual credit card are:
- It is more secure, since they cannot steal or clone it like physical cards. Also, you can generate a confidential number for each transaction.
- You can better manage your expenses, since it allows you to set a spending limit amount, and cancel it if you don’t use it.
- The chances of suffering financial fraud or having unrecognized charges decrease, since you can freeze or cancel your card whenever you want.
- Some banks grant exclusive rewards for the use of these cards.
- You have the option of creating a disposable virtual card linked to your account, obtaining payment data that will only last as long as you make a purchase.
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