Benefits of using a virtual prepaid debit card for online payments

When you pay online using credit cards, your sensitive financial information is vulnerable to hackers. Cybercriminals lurk in the darknet, waiting for the chance to steal your credit card information to make an unauthorized payment transaction to themselves. There are other cybercrimes such as transaction codes being high jacked to send the funds to another account. Most people are aware that there are thieves online that want to get hold of your credit card.

The liability for an unauthorized credit card transaction

Unauthorized transactions happen when the credit card info is used to make an online purchase. The problem with those unauthorized online credit card payment transactions is that the credit card company does allow it when the information is complete. The liability for any transaction made belongs to the card owner. If the card isn’t reported as stolen, the amount that a cybercriminal stole still has to be paid by the credit card account holder.

When the credit card bill has to be paid

There are other times that a credit card can be used to make an unauthorized transaction by someone who isn’t a cybercriminal. A common occurrence is that of a child making an online purchase as the parent’s credit card information was saved at the site such as that for gaming. If the kid saw their parents making a purchase, they might do the same and buy a lot of stuff for their game. The credit card bill would be very high and there is no way that the parent can claim that they did not authorize the payment.

Avoid drowning in debt

When you used a debit card, you can control the amount to be spent. It is possible to load it every time you make a transaction. A debit card is a prepaid option that protects your funds if you get to use it wisely. One of the ways to ensure that there will be no unauthorized transactions is if the money stored in the debit card is the minimal amount. Then, there won’t be enough balance to transact, unlike a credit card transaction that can drown you in debt.

Own a virtual debit card

If you want to own a debit card instead of carrying around cash with you, then the most convenient way to do so is to get it through one of the best online payment services. You’ll be able to avail of a virtual debit card from a money services company. The advantages of getting a debit card online are many, to include being able to link it to a money services app.

International fund transfers

You can own a virtual debit card for making an international payment transaction. The advantage of owning the virtual card of a money services company is that the currency can be in either USD or Euro. This virtual debit card can accept payments and send funds. There won’t be the low USD and Euro exchange rates and the accompanying transaction fees of sending international bank-to-bank transfers.