For most people, virtual cards are a new concept. Consequently, many consumers aren't aware of the differences between virtual cards and credit cards. Some people don't even know what a virtual card is and how it functions (we wrote something about that here, in case you missed it), but the good news is that virtual cards are quite simple to breakdown and understand.
In 2019, Americans used the holiday season to spend more money online. In the weeks leading up to Christmas, online sales grew 18.8% even though consumers had a shorter holiday season.
We’re advised not to use the same password across multiple online accounts, so why risk storing the same credit or debit card number with merchants when you shop? Over 3,800 data breaches were reported in the first half of 2019 alone, exposing more than 4.1 billion records, according to the Cyber Risk Analytics’ MidYear Report.
