To access any particular card, you tap the wallet icon on your phone screen to open the digital wallet, and you’ll see all the virtual cards stored inside. These virtual wallets can store all sorts of cards and information, from debit and credit cards to Metro, myki or Opal public transport passes, movie passes and more. Virtual debit cards are stored on a smartphone or wearable device in a digital wallet. Prepaid cards often come with recharge and membership fees, however, so a standard virtual debit card may be a cheaper option. Just like a standard debit card, if there are insufficient funds, the transaction will be declined. When the funds are used up, the virtual prepaid card can be reloaded and used continuously, as long as there are funds on the card. In this case, the prepaid debit card is loaded or charged up with cash to enable you to spend the money you’ve put on the card. A virtual prepaid card: not all instant virtual debit cards are linked to a bank account, as debit cards are also available in prepaid form.Such temporary virtual cards can be included in your digital wallet and linked to your bank account like a normal plastic card. A temporary virtual card can also be created instantly and used to add an extra layer of security to your online shopping by generating different card details from another debit card you may have. They can be used in the same way as a physical plastic debit card: to shop online, pay for meals or groceries or withdraw money from an ATM. These cards are also issued by Visa or Mastercard and by non-bank financial institutions. A virtual-only debit card: there are also virtual debit cards that don’t have a plastic twin and only exist in digital form.They can also be used for online shopping, which can be a more convenient process using a digital wallet instead of having to enter your card details for each purchase. You can use it almost anywhere that Visa or Mastercard are accepted, by having the card on your screen and tapping the EFTPOS machine or card reader to pay for your purchase. It’s linked to your transaction account in the same way as your physical debit card. A standard digital debit card: this type of virtual debit card is simply the digital version of the plastic card in your physical wallet, which is accessible via your phone or wearable device.There are three main types of virtual debit card: They allow you to shop, make payments and withdraw cash at ATMs from a bank account by using your phone and digital wallet. They are also known as digital debit cards. A virtual debit card is often the same as the plastic debit card you may have in your wallet, except that it exists in digital form.
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