Virtual credit cards are becoming increasingly popular for both B2B and consumer transactions, with a projected global transaction value of $6.8 trillion by 2026. These digital cards, linked to your existing bank account, offer enhanced security and convenience by generating random card numbers for each transaction, thus protecting your actual account details. They provide numerous benefits such as safety, complete control over spending, and the ability to set spending limits or create single-use cards. Virtual cards also reduce the risk of fraud and chargebacks, and offer the same rewards and perks as traditional cards. Businesses can use virtual cards for various purposes, including accounts payable, business travel, expense management, and subscription services. When choosing a virtual card provider, consider factors like security features, customization options, customer support, and fees. Shopify Credit offers a virtual business card with no annual fees and up to 3% cashback on eligible purchases, making it a viable option for entrepreneurs seeking secure and efficient payment solutions.
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