Virtual Visa Prepaid Card Commenced in the USA by Skrill
Skrill, a leading digital wallet service, has launched the virtual version of its Visa Prepaid card for consumers residing in the United States. Skrill USA consumers can now make purchases online using the latest Virtual Visa Prepaid Card, offered by the New York-based Community Federal Savings Bank (CFSB).
The new virtual Visa Prepaid Card is an alternative to the physical Visa Prepaid Card issued by the CFSB. It has a simplified registration procedure and can be verified in seconds. That allows customers the privilege to use a payment solution that can be utilized anytime wherever a Visa card is allowed.
What Is a Virtual Visa Prepaid Card?
A Virtual Visa Card is a prepaid Visa that is delivered instantaneously by email, equipped with randomly generated unique numbers and a CVV (Card Verification Value) code. The numbers reflect your Visa card or bank account; however, they cannot be used to steal your personal information or money. It can be used online or over the phone everywhere Visa is accepted. Because virtual Visa cards are safer than normal debit and credit cards, many businesses are incorporating them into their payment systems.
When a virtual Visa card is used to make a payment, it is linked with the main account, and money is paid from that account. When a virtual card is used once, the Visa card number expires, rendering it unusable to the thieves. They’ve increased security and are secured by 256-bit SSL encryption, so they can’t be routed back to your account or company.
Advantages of Virtual Visa Prepaid Card
- The virtual one has many advantages over the physical visa card. There are always severe possibilities of getting your physical visa card stolen or lost. In this case, replacement takes a lot of time and effort whereas having a virtual visa card doesn’t include this risk. Also, you can lock or deactivate it within seconds if someone takes access to your card.
- Moreover, the transaction costs associated with virtual cards can be cheaper than those associated with regular purchase systems. According to the National Association of Payment Card Professionals (NAPCP), the typical transaction charges range from $55 to $100 per transaction. You can save up to 83% on transaction costs by using virtual cards instead of traditional buy requests and approvals.
- Another benefit of this virtual card is that customers will not be charged transaction fees for using the virtual version of the card, but they will be able to collect points for each payment through the Skrill Knect loyalty program. A user earns one Knect point for every $1 spent with the virtual card. Above the 5,000 Knect-point level, points can be redeemed for cash or other benefits.
Paul Jardon, CEO, and CFO of Skrill USA said, “We’re strongly focused on evolving our product for U.S. consumers. The Skrill Virtual Visa Prepaid Card gives our customers all the benefits and access to eCommerce of a physical Visa card with all the speed and convenience of a solution that is 100% digital.”
Skrill USA’s recent attempt to boost its service for American customers is the introduction of the Skrill Virtual Visa Prepaid Card. After initiating Skrill Money Transfer in 2020, Skrill USA launched its cryptocurrency product in March, allowing U.S. customers in 37 provinces and regions to transact cryptocurrencies.