How to Create a Virtual Card in Nigeria

virtual card
virtual card

In today’s globalized world, online transactions have become a part of everyday life. Whether you’re shopping on international websites, subscribing to streaming services, or engaging in cross-border business, having a virtual card can be immensely beneficial. This guide will walk you through the process of creating a virtual card in Nigeria, providing detailed information on what it is, why you need one, and the steps to obtain one.

Virtual card has become one of the most tools for making payment online in Nigeria because the debit/credit cards provided by our Nigeria official banks do not work for online payment the solution for this is using an online virtual card.

What is a Virtual Card?

A virtual card is a digital payment card that allows you to make online transactions in foreign currencies, particularly the US dollar (USD), Pound(GDP), and Euro(EUR). It is not a physical card but a set of card details (card number, expiration date, and CVV) that can be used for online purchases. Virtual cards are often used for international payments, e-commerce, and subscription services that require foreign currency transactions, like Netflix, Spotify music, or YouTube Premium.

Why Do You Need a Virtual Card?

There are several compelling reasons to obtain a virtual dollar card in Nigeria:

  1. Global Online Shopping: A virtual card enables you to shop on international websites that do not accept Nigerian Naira (NGN) or other local currencies.
  2. Subscription Services: Many popular streaming platforms, software services, and online tools require payments in USD. Having a virtual card simplifies these transactions.
  3. Enhanced Security: Virtual dollar cards offer an additional layer of security since they are not linked to your primary bank account. This can protect your financial information in case of unauthorized access.
  4. Budget Control: By loading a specific amount onto your virtual dollar card, you can better manage your online spending, preventing unexpected charges.

How to Create a Virtual Card

Choose a Reliable Provider

To create a virtual dollar card, you’ll need to choose a reputable provider. In Nigeria, several financial institutions and fintech companies offer this service, We have compiled a list of the best virtual dollar cards you can check it here. Some popular options include:

  • Chipper Virtual Dollar Card
  • Gomoney Virtual Card
  • PSTNET virtual dollar card
  • Flutterwave
  • Payoneer
  • Wallets Africa Virtual Dollar Card

2. Select the Right Card Type

Different providers may offer various types of virtual cards, each with its own features and fees. Consider factors such as card issuance fees, annual fees, transaction fees, and withdrawal fees when choosing the right card for your needs. Chipper, for instance, offers a prepaid Mastercard that can be used for online transactions in USD.

3. Gather Required Documents

To create a virtual dollar card in Nigeria, you will typically need the following documents and information:

  • Valid means of identification (e.g., National ID, international passport, driver’s license)
  • Proof of address (e.g., utility bill or bank statement)
  • Personal details: Name, phone number, and address
  • A functional email address

4. Apply Online

Most providers allow you to apply for a virtual card online through their websites or mobile apps. Follow these steps:

  1. Visit the website or download the app of your chosen provider.
  2. Locate the virtual dollar card application section.
  3. Fill out the required personal information and upload the necessary documents.
  4. Review and confirm your application.

5. Verification Process

After submitting your application, the provider will typically conduct a verification process to confirm your identity and address. This may involve contacting you for additional information or documentation.

6. Fund Your Virtual Card

Once your application is approved, you’ll need to fund your virtual card. This can usually be done through the provider’s website or app using your Nigerian bank account. Be aware that some providers may charge fees for card issuance and initial funding.

Using Your Virtual Card

1. Online Purchases

Your virtual card can be used for a wide range of online transactions, including:

  • Making purchases on international e-commerce websites.
  • Subscribing to streaming services like Netflix, Spotify, or Amazon Prime.
  • Paying for software subscriptions or online tools.
  • Booking flights and accommodation on international travel websites.

2. Security Tips

To ensure the security of your virtual card:

  • Keep your card details confidential and never share them with anyone.
  • Regularly monitor your transaction history to detect any unauthorized charges.
  • Enable two-factor authentication (if offered by your provider) for additional security.
  • If you lose access to your card or suspect fraudulent activity, contact your provider immediately to block the card.

Fees and Charges

It’s essential to be aware of the fees associated with your virtual card, as they can vary between providers. Common fees include:

  • Card Issuance Fee: This is a one-time fee for creating the virtual dollar card.
  • Annual/Monthly Maintenance Fee: Some providers charge an annual or monthly fee for card maintenance.
  • Transaction Fees: These are fees incurred for each transaction made using the card.
  • Currency Conversion Fees: If you make purchases in currencies other than USD, you may be subject to currency conversion fees.
  • Withdrawal Fees: If your card allows ATM withdrawals, there may be fees associated with this service.

Always review the fee schedule provided by your chosen provider before obtaining a virtual dollar card.

Conclusion and Additional Tips

In conclusion, obtaining a virtual dollar card in Nigeria can open up a world of online possibilities and simplify international transactions. By carefully selecting a reputable provider, understanding the associated fees, and following security best practices, you can make the most of your virtual dollar card.

Additional Tips:

  • Regularly check your card’s balance and transaction history.
  • Keep your contact information updated with your card provider.
  • Stay informed about any policy changes or updates from your provider.
  • Consider using a combination of virtual dollar cards and other payment methods to diversify your online spending options.

Remember that the process and features of virtual dollar cards can vary between providers, so take the time to research and choose the one that best suits your needs and financial goals. With a virtual dollar card, you can navigate the global online marketplace with confidence and convenience.

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