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How Virtual Prepaid Debit Cards Work

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It’s estimated that credit card theft cost US consumers around $16 billion in the year 2016 alone. This number is expected to increase dramatically over the next 10 years, despite additional security measures being added. In a world where thieves can access your hard-earned cash at the push of a button, how can you secure your accounts? It’s important to protect yourself in anyway possible. For that reason, many consumers are making the switch from traditional debit and credit cards to virtual prepaid cards.

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What Is a Virtual Prepaid Card?

Virtual prepaid cards are the answer to identity theft and fraud. They offer protection and security for businesses and individuals worldwide. A virtual prepaid card isn’t actually a card at all. Once you apply for one, a physical card won’t be sent, unless you specifically request it. Instead, a virtual number is supplied to the user. This 16-digit number can be used just as a credit card would be used online. The user simply has to enter the virtual card number, the expiration date, and the security code in order for the payment to be processed.

How Does It Work?

A virtual prepaid card may not be tied to a physical card, but it is tied to actual money. Instead of it being linked to a high credit limit or your bank account, a virtual prepaid card only has the amount of funds available that you choose. These reloadable accounts are filled on a prepaid basis. You designate how much money will be allocated to your prepaid virtual card. If your transaction exceeds the amount of money in the account, it won’t be processed. It’s easy to reload and add more money to the card with the push of a button. Once you’ve deposited funds on your card, you can use your virtual card number to make purchases online. The virtual card number will be linked to your virtual account, where the payment will be processed.

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Security Features

Using a virtual prepaid card is relatively anonymous. Because none of your personal information is linked to the virtual number, you don’t have to worry about identity theft or fraud. Plus, there’s no need to worry about thieves accessing your bank account or running up a high balance on your credit card. Your virtual prepaid card will only have the funds available that you’ve deposited. You can add exactly the amount of a certain transaction, pay for your goods and services, and then keep your balance at zero until you’re ready to make another purchase. Some virtual credit cards generate new card numbers every so often, just to increase security and make it more difficult to hack. This reduces the risk of theft greatly, and gives you peace of mind knowing that your information and money are protected.

Less Cost

Most virtual prepaid debit cards will cost you less than those provided by a bank or credit union. Because you can’t overdraft, there’s no risk of overdraft fees. Plus, there’s no need to pay for card delivery. A virtual card is delivered online by supplying the 16-digit card number, expiration date, and security code. It typically doesn’t cost anything to start this virtual service and any transaction fees should be minimal.


Reloading virtual prepaid debit cards is simple. Most of the time, you can review your transactions and load more funds on your card with an app. Using your favorite mobile device, you can add or transfer more money in a matter of minutes. There’s no need to go to the bank to set up service or to deposit funds. It’s a time-saving solution that is perfect for both businesses and individuals. Plus, you don’t have to pull out your card every time you want to make an online purchase.

A virtual prepaid debit card is an excellent way to protect your assets while still being able to purchase goods and services online. Whether you’re looking for a safe business or individual payment solution, WaveCrest Holdings has numerous virtual prepaid card options to protect your transactions. With a new prepaid card system in place, you’ll find it easier to conduct business online without the increased financial risks taking its toll on your bank account.

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