5 reasons why virtual credit cards are on the rise

Smartphones are pretty amazing. They give us access to all the knowledge of the world… and a never ending supply of cat videos. So it should come as no surprise when they can act as credit cards too! Virtual credit cards to be specific. If you’ve never heard of them before, here are 5 things that’ll get you up to speed:

1. Virtual cards work almost identically to physical cards

Virtual credit cards are a digital clone of your physical credit card that can be stored securely, either within virtual wallets like Google Wallet, Apple Wallet or Samsung Wallet, or on the issuer’s own app. Some credit cards are completely digital with no physical plastic card at all. They’ve become very common as different countries use less cash and more digital transactions.

2. Contactless payments are a breeze

All virtual credit cards need to be set up and verified in a digital wallet, typically on your mobile device. Much like physical credit cards, they’re able to send encrypted information wirelessly to other devices when they’re in very close proximity to payment machine readers. This makes them ideal for contactless and tap-and-go payments through your smart devices, but they can also be used for online purchases through your web browser (like on Apple Pay). 

3. Virtual credit cards are super easy to use

The biggest advantage would definitely be how convenient and accessible your card is. You can leave the house without your wallet and still be able to pay for your morning coffee — AND earn rewards points, such as Qantas Points, at the same time.

4. Virtual means no physical credit card to lose

Virtual credit cards come with an added layer of security. While your card is stored in your digital wallet, your personal and card details won’t be. Instead they’re stored digitally within the card provider's private network. Each time you make a payment, it’ll be with an encrypted version of your card details which means that your actual card details will never be used or shared with merchants – protecting your privacy. With no physical card that could potentially get lost or stolen and information encryption, virtual credit cards are considered more secure than traditional physical cards. 

5. You can still collect rewards points with virtual credit cards

If you have a rewards credit card virtually stored on your phone, you can earn points just as you do with your physical card — and with the rise of contactless payments, there are so many more ways to earn points. Almost all credit cards that earn Qantas Points can be stored and used through either Apple, Google or Samsung Pay, you’ll just need to check with the card issuer. You can compare all credit cards that earn Qantas Points on our comparison page.

Unlike cat videos, plastic is definitely on its way out and there are many advantages to using a virtual credit card. Make the most of your virtual credit card and you can earn Qantas Points by taking out a Qantas Points earning credit card  

Find out which rewards credit card is right for you: How to choose a suitable rewards credit card.