Driven by the increasing popularity of online shopping and the need for safer digital payment methods, the global virtual card market is expected to reach $89.93 billion by 2030, according to 360iResearch^[1]. Virtual prepaid cards provide users with unique card numbers, expiration dates, and CVV codes to protect their sensitive financial details during online transactions. These cards offer added benefits like spending limits and single-use options, making them secure and convenient.

With numerous platforms offering virtual prepaid cards, selecting the right provider can feel overwhelming. So, what are the best platforms for purchasing virtual prepaid cards online? This guide reviews the top options, helping you choose a service that meets your security, usability, and payment needs.

What To Look For in a Virtual Prepaid Card Provider

To get industry-grade security, decent user-friendliness, and value for money, you should focus on the following factors:

• Features and usability—Look for card providers that allow you to make single payments as well as recurring ones. If you prefer reloadable cards, consider those that allow you to set spending limits, too. Also, choose platforms with easy-to-use apps or web portals that simplify creating, managing, and monitoring your cards.
• Security—Prioritize providers that offer robust protection, including two-factor authentication (2FA), encryption, and fraud detection systems. These safeguards help secure your financial details and minimize the chances of unauthorized access. Providers adhering to industry standards like PCI DSS or undergoing regular audits add an extra layer of reliability.
• Pricing—Compare providers based on their pricing plans. Some providers offer free options, but advanced features usually require a subscription.

Best Virtual Prepaid Card Platforms Reviewed

Based on the criteria above, two platforms stand out in their offerings:

1. Netspend
2. Revolut
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Here's a quick overview of their features:

Netspend—A Secure Virtual Prepaid Card Solution

Netspend provides virtual prepaid card services, enabling users to make secure online and phone transactions without exposing their primary card details.

Features and Ease of Use

Netspend virtual accounts can be for one-off and recurring purchases, offering enhanced control over payment security^[2]. Users can generate up to six active virtual account numbers per Netspend Card Account^[2]. Each virtual account includes^[3]:

• A unique 16-digit card number
• A 3-digit CVV security code
• A 12-month expiration period from the creation date

Other notable features include^[2]:

• Trial subscription management—Users can create a virtual account to sign up for a service trial and cancel it immediately after use, reducing the risk of unwanted charges while canceling the subscription.
• Personalized card options—Physical prepaid cards can be customized with personal photos or designs.
• Mobile app integration—Users can access and manage virtual accounts, view balances, and track transactions through the Netspend mobile app.

Security

Netspend employs robust security measures to protect users' funds and information, including^[4]:

• ID Theft Protection—Users are alerted if sensitive personal details, like Social Security or driver's license numbers, are detected online.
• Card Controls—In case of card loss or theft, users can instantly lock the card via the mobile app or Online Account Center. 
• Purchase Assurance—The provider offers coverage for eligible items purchased using the card, protecting against damage or theft within 90 days of purchase.
• FDIC insurance—Funds are insured up to $250,000 through the user's issuing bank.

Pricing

Netspend offers different plans, including a Pay-As-You-Go Plan with no monthly fee but a $1.95 transaction fee per purchase and a Monthly plan with a fee of $9.95, providing unlimited transactions^[5]. 

Revolut—A Robust Virtual Card Solution

Revolut, a UK-based fintech company, offers virtual cards as part of its financial services, providing users with convenient payment options for online and in-store transactions.

Features and Ease of Use

Revolut's virtual cards are designed to enhance security and flexibility in managing finances. Key features include^[6]:

• Multi-currency support—Users can exchange in over 36 currencies, facilitating seamless international transactions.
• Multi-use virtual cards—Up to four multi-use virtual cards are available every 30 days, with a maximum of 20 active cards at any given time.
• Disposable card—The card's details are refreshed after every transaction, and users can make up to five payments every 24 hours.
• Spending controls—Users can set spending limits and instantly freeze or delete cards through the Revolut app, providing real-time control over their finances
• Digital wallet integration—The virtual cards can be added to Apple Pay or Google Pay for contactless payments in physical stores.

Security

Revolut employs several security measures to safeguard user information and funds, including^[7]:

• Fraud detection systems—Employs continuous monitoring and analysis of transactions to identify and reduce the risk of unauthorized card use
• Multi-factor authentication (MFA)—Requires additional verification for account access and transactions, ensuring only authorized users can perform actions
• Instant card control—Allows users to immediately freeze, unfreeze, or delete their virtual cards via the app
• Scam warnings—Alerts users of potential scams and risky payments based on current scam trends
• Scam awareness education program—Educates users about the most popular scam and fraud trends through real-life examples and tips
• Responsible data processing—Aligns its processes with General Data Protection Regulations (GDPR) and any other global data protection regulation

Pricing

Revolut offers three plans. Refer to the table below for more details on the pricing:

The Standard plan includes a single virtual card, but users can get more cards for $5^[9] per card. If they want a physical card too, there is no issuance fee for the first Revolut Card, but there may be a delivery fee of up to $5.

Revolut charges a $10.00 fee for every U.S. domestic wire transfer, but standard purchases, ATM withdrawals (in-network)^[10], and transfers to other Revolut accounts are free^[9]. The platform also charges a 5% fee on international transactions of $200 or more^[10]. 

Is There an Alternative to Prepaid Virtual Cards?

While prepaid virtual cards are attractive due to their security features, some users may find the continuous need to reload the card inconvenient. Privacy connects to your debit card or bank account, eliminating the need to recharge your virtual card whenever you want to make a new payment—without sacrificing user safety or spending flexibility.

Privacy—A Comprehensive Virtual Card Service Provider

With over 250,000 users and BBB accreditation, Privacy provides a trusted platform for secure online transactions. Available to most U.S. residents aged 18 or older with a bank account or debit card from U.S.-based financial institutions, Privacy enables you to create virtual cards that shield your sensitive financial details when making online purchases.

Each Privacy Virtual Card comes with the typical credentials physical debit and credit cards offer, including:

• A unique 16-digit card number
• An expiration date
• A CVV security code

In the event of a potential data breach, only the virtual card details are exposed, safeguarding your actual payment card information.

Privacy Card Types and Features

Privacy offers three types of virtual cards, each tailored for specific use cases:

Privacy Cards come with the following features:

• Spending limits—You can set a spending limit on your Privacy Cards to control how much a merchant can charge you. This feature can help protect you from accidental double charges, unexpected price increases, or hidden fees.
• Card pausing and closing—You can temporarily disable your Privacy Card or permanently block all future charges. This feature is useful when canceling subscriptions like AMC Plus, Brainly, and Tinder Gold as it allows you to go through the cancellation process without worrying about unwanted fees.

Convenience Features

Privacy includes several features that enhance your online shopping experience by streamlining payments and improving card management. Refer to the table below for more information about these convenience features:

How To Get Started With Privacy

To begin using Privacy Cards for secure online payments, follow four easy steps:

1. Create a Privacy account
2. Complete the verification process
3. Provide a funding source—it can be your bank account or debit card
4. Request and generate your first virtual cards
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Privacy offers four monthly plans:

1. Personal—Free for domestic purchases, this plan provides up to 12 new virtual cards per month. It includes Single-Use and Merchant-Locked Cards, access to the Privacy Browser Extension and Privacy App, spending limits, and the ability to pause or close cards.
2. Plus—For $5 per month, this plan includes 24 virtual cards per month. In addition to all features in the Personal Plan, it offers Category-Locked Cards, Shared Cards, priority support, Live Chat (available Monday to Friday from 9 a.m. to 5 p.m. ET), and the option to add custom notes to cards.
3. Pro—At $10 per month, this plan allows up to 36 virtual cards per month and includes all features from the Plus Plan. It also offers no foreign transaction fees and 1% cashback on eligible purchases, totaling up to $4,500 per month.
4. Premium—For $25 per month, this plan provides up to 60 virtual cards monthly and includes all the features available in the Pro Plan.
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You can use Privacy Virtual Cards at most merchants that accept U.S. debit or credit cards, including those in Visa and Mastercard networks.

References

^[1] 360iResearch. https://www.360iresearch.com/library/intelligence/virtual-cards, sourced November 14, 2024.

^[2] Netspend. https://www.netspend.com/prepaid-debit/features/virtual-cards, sourced November 14, 2024.

^[3] Netspend. https://www.netspend.com/help/faqs/332137/1618432, sourced November 14, 2024.

^[4] Netspend. https://www.netspend.com/account-security, sourced November 14, 2024.

^[5] Netspend. https://www.netspend.com/agreements/730462421_web, sourced November 14, 2024.

^[6] Revolut. https://www.revolut.com/cards/virtual-card/, sourced November 14, 2024.

^[7] Revolut. https://www.revolut.com/blog/post/is-revolut-safe/, sourced November 14, 2024.

^[8] Revolut. https://www.revolut.com/en-US/our-pricing-plans/, sourced November 14, 2024.

^[9] Revolut. https://www.revolut.com/en-US/legal/standard-fees/, sourced November 14, 2024.

^[10] Revolut. https://assets.revolut.com/legal/terms/Revolut%20Consumer%20Prepaid%20CHA%20FINAL%2026%20August%202024.pdf, sourced November 14, 2024. 

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