My views on this.
It's super useful.
1. For online subscription services where you get the first month free. Yet they need to verify your credit card. That means you create a virtual card and then you cancel the card immediately after you created your account. You never have to remember to cancel your subscription after a month since the card doesn't exist anymore.
2. For small online shops that you don't trust. You create a virtual card for the exact amount and don't delete it in case you need to claim for a refund, then you set the limit to R0. That way you still have the card if you want a refund.
Hopefully you can get a refund on virtual cards.
3. This is an assumption. But hopefully virtual cards don't have as strict security. I was prevented on buying on niche overseas websites and they don't support the additional security SMS verification the bank requests. If this card has less security it would allow me to buy on those sites.
Also, often the fraud departments of banks prevent transactions that is not your normal buying behavior. It is a pain to phone the bank and ask them to allow it. Now that the bank knows I created a virtual card they won't flag it as fraudulent.
When I went into the app the virtual card's image looks different with the words VIRTUAL on it so it cannot be confused with a normal card if you screenshot it. There is some circumstance where you have to make a copy of your physical card and send it to someone if they request it.
Hmmm. There might be some hack way to get around it by putting your virtual card details on a normal screenshot and then use that.
