Mastercard Virtual Credit Card Number

[Smacka Shock]

When you save a credit or debit card to your Google Account, you may be able to turn on a virtual card number. Virtual card numbers can be shared with merchants for online or in-app transactions to keep your actual card number info more secure.

Virtual cards are a safer way to pay online or in-app. When you use a virtual card to make a purchase, the app replaces your physical card number with a unique virtual card number. When you check out, the virtual number hides your personal payment details and helps to protect you against fraud.

Tip: The virtual card number, expiration date, and CVC may be different from your physical card. For added security, some card issuers change your virtual card number or CVC for different merchants or transactions.

No, the virtual card number replaces your physical card number, but is used the same way. Your credit line, balance, fees, and transaction info stay the same. You use your virtual card number during the checkout process. Instead of your actual card info, the merchant gets your virtual card number, expiration date, and CVC.

To make a return, or pick up an item in store that you bought with a virtual card, you may have to find the last 4 digits of your virtual card number. The last 4 digits of your virtual card are different from your physical card. To find the virtual card number, refer to the receipt from the merchant or go to your card issuer website. If neither of these have the last 4 digits you can contact your bank for support.

To keep pace in this age of instant experiences and immediate validation, businesses of all kinds are turning to virtual cards to bring the ease, security and efficiencies of digitization to their operations. So what are virtual cards exactly, and how do they work?

Virtual cards are a growing payment option in B2B payments. They are temporary card numbers randomly generated and linked to a funding account that has an established line of credit. They are typically used for a specific transaction or for a specific period of time. They are often integrated into accounting, enterprise resource planning and expense management systems to streamline back-office processes, including automating reconciliation.

Virtual cards are different in that there is no physical card, but otherwise they work in a similar way for purchases, with a 16-digit card number, an expiration date and a three-digit CVV code. Some virtual cards can even be added to mobile wallets for tap-to-pay functionality, just like digital versions of consumer credit or debit cards.

Virtual cards work like traditional payment cards, but the businesses using them have more control over spending. They can customize parameters, and the cards can be linked to specific business units or projects for improved monitoring, reconciliation and invoice management.

These advantages apply to both sides of commercial transactions. For merchants or suppliers, accepting virtual cards can bring payment certainty and help to reduce days sales outstanding, which refers to the average number of days it takes a company to collect payment for a sale and is an indicator of working capital.

Unlike traditional checks, which are still commonly used in business-to-business payments in the U.S. and generally take at least one working day to settle, virtual card payments are settled almost immediately, accelerating cash flow. Merchants also benefit from more detailed payment data, which can help them on their journey to automated reconciliation.

For buyers, the controls of virtual cards are critical, reducing creep in budgets and ensuring funds are being spent appropriately. In addition, virtual cards reduce the risk of fraud or misuse because they can only be authorized under specific parameters, after which the number is deactivated. They can also offer more detailed monitoring, as the unique card number used in each transaction means it can be tracked with more precision, and easier reconciliation because the additional data allows for one-to-one payment match.

Many businesses manage thousands of suppliers and tens of thousands of invoices. Virtual cards, which include rich payment data, can improve cash flow on both sides of the transaction, because they offer faster payment and simpler reconciliation by connecting orders, invoices and status of payments. That, in turn, can strengthen relationships between buyers and suppliers. The transaction-level data tied to each virtual card, including the data, amount, item and merchant, can be automatically entered into an accounts payable system without tedious and error-prone manual entry, to enable greater efficiency and accuracy.

Depending on company policy, business travelers equipped with virtual cards may not have to keep track of piles of physical receipts. Virtual cards also eliminate the need to pay with a personal card and wait for reimbursement.

For fleet managers looking for ways to manage costs for fuel and maintenance and ensure drivers are adhering to company policy, mobile virtual cards can be linked to a specific vehicle to track fuel usage, for example, or even to specific gas stations with whom the company has preferential partnerships. The detailed transaction data can help fleet managers make more informed decisions, including ways to reduce fuel cost, manage drivers and optimize routes.

Businesses can launch virtual cards directly through their issuing bank, but to get the most benefit, they can work with their technology software providers to integrate the cards into their digital business platforms, like enterprise resource planning or procurement systems, which can further speed up and simplify the way they work. Embedding payments into these platforms can reduce friction and transaction costs and offer greater data and insights, value-added services and even the ability to access credit and financing.

When virtual cards are accessed through the tools a business uses day to day, the payment can become a natural extension of its operations. Managing B2B payments used to require jumping between multiple business platforms, but embedding virtual cards opens the door to new, more convenient experiences where payments are seamlessly woven into the platforms that enterprises organize their business around.

Looking for providers with extensive global card acceptance networks is also important for optimizing where businesses and their employees can use their virtual cards. With more virtual cards being enabled for mobile wallets, it is important to consider a provider with a large global footprint of contactless-enabled locations.

If the store supports the use of virtual wallets -- and your card issuer offers virtual cards that you can link to digital wallets, like American Express -- then yes. Otherwise, virtual cards are limited to online or over-the-phone purchases.

Virtual credit cards are a digital version of your physical credit card. They generate a unique credit card number for you to use in place of your physical card number, preventing the merchant from storing your credit card information and keeping your financial data more secure.

With security breaches popping up in the news, opting for a virtual card provides you with an extra layer of protection. Several big-name credit card issuers provide virtual cards, but there are exceptions.

Virtual cards provide much more flexibility. You can create new card numbers for different stores, change your card number on the fly, set spending limits and even lock or delete a card number without having it affect your actual account. That said, virtual cards can only be used for online purchases, some over-the-phone transactions, and (if you add your virtual card to Apple Pay or Google Pay) at qualifying physical stores that accept those Apple or Google payment platforms.

Flexibility. Many virtual cards allow you to set a time limit, after which they expire. This can be helpful if you want to use a card only for a specified period of time. Some also offer spending limits, which can help you stick to a budget.

Makes reservations challenging. If you use a virtual card to book a hotel room, it may be hard to reconcile your payment method when you check in. Most hotels request a physical card when you arrive, so using a virtual card may require extra verification, such as calling your bank.

Once your virtual card is generated, you may be able to modify some settings such as the spending limit or expiration date. You can then start using that number to make your purchase online or via the card app.

Yes. A digital wallet operates similarly to a virtual card, but there are some noteworthy differences. Digital wallets -- like Apple Pay and Google Pay -- store a digital version of your physical credit or debit card, with the exact card numbers.

Much like a virtual card, most digital wallets will generate a temporary card number when you make a purchase, ensuring that your actual card number is never actually exposed to a merchant. However, digital wallets are not accepted everywhere. While you can use a virtual card for all online purchases that accept credit cards, digital wallets can be used only at participating retailers, whether online or in-store.

Virtual cards provide an additional layer of security by masking your physical card number with a temporary account number. This decreases the chance your actual card information will be exposed in a breach.

Virtual cards are not fraud-proof, however. A hacker could theoretically gain access to a temporary card number that is still active and complete a transaction. Card issuers extend the same fraud protection to virtual cards as they do to physical ones, so you should be covered in case of any fraudulent activity.

A virtual credit card adds another layer of security when shopping online, over the phone or, when available, in store. A virtual card generates a new card number, preventing a retailer from storing your credit card information. This keeps your financial information safe in the instance of a security breach.

c80f0f1006