In response to growing consumer demand for online transactions, many companies are trying to make it easier to make digital payments. Many online shopping and delivery platforms are currently encouraging cashless payments all over the continent explaining the moves of companies like Eversend to make virtual cards. According to Afritechpost, Eversend is introducing virtual cards for its customers to further ease transactions.

Eversend Virtual Cards

Virtual cards have been around for a few years now. Their mainstream use is mostly the result of emerging technologies like virtual wallets, challenger banks and payment accounts.

Their limitation is that sometimes they cannot be used for anything other than online credit card payments. However, with the current situation, this might be the best time to fully embrace this.

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Eversend is a multi-currency e-wallet that allows you to exchange, spend and send money. They even have an app that offers you a full range of financial services, straight from your mobile phone.

With regard to this, CEO, Stone Atwine, shared a screenshot teasing how virtual cards would look like and some of the features they will entail.

Coming soon!!!! pic.twitter.com/DqDlkhY23Z

— Stone – currently crowdfunding (@StoneAtwine) June 5, 2020

Features of a Virtual Card

In a nutshell, a digital card is simply a virtual version of your card. The good thing about it is that it is instantly available to you at any time. You can use it just like your physical card to:

1. Shop online
2. Pay bills
3. Make in-app purchases
4. Set up your recurring card payments
5. Add it to your mobile or wallet apps to shop.

Users will probably be able to upload details of their card or simply have a card based on their available app details. The virtual cards will allow users to freeze the card’s activity, access to past transactions, and location among others.

According to his tweets and responses, Stone notes that they are testing the cards. Currently, it works for Netflix payments but they are still working on Apple services and payments.

According to GateHub, Virtual cards still have a long way to go to be considered mainstream. The first step towards this goal is to make all virtual-only cards eligible for POS payments and ATM withdrawals. They are already easier to acquire than most physical credit cards.