Virtual Debit Card for Simplified Payment
Virtual debit card is a digital card added directly to mobile wallets, such as Google Pay and Apple Pay. As crypto businesses expand their offerings and work to make crypto payments easier and more widely accepted, virtual cards offer a simple, secure solution for bridging crypto with everyday transactions.
One of the major advantages of virtual crypto cards is that they link directly to both crypto and fiat balances, eliminating the need for pre-payment or manual conversions. This allows users to make daily purchases seamlessly, directly from their crypto accounts.
Why Businesses Should Issue Virtual Cards
With the virtual card API, neobanks, Web3 apps, and crypto platforms can quickly and efficiently issue virtual cards to their users. By streamlining the traditionally complex card issuance process, Striga’s all-in-one crypto banking solution simplifies the entire setup to just a few clicks.
Enhanced Security and Control for Every Payment
Virtual cards, being digital-only, come with heightened security. Stored in the user’s mobile wallet, the cards can be locked instantly if needed, providing an additional layer of safety. Additionally, businesses have full control over their virtual card programs via Striga’s portal, where they can create, freeze, or unblock cards as needed. The cards also include 3D secure verification via a registered mobile number and password, ensuring both users and businesses stay protected.
Instant Access to Payments
Unlike physical cards, which can take days or even weeks to issue, virtual cards are issued instantly. As soon as a card is activated, users can start making immediate purchases. Crypto exchange platforms can leverage this functionality to create virtual debit card programs, allowing users to make payments seamlessly within the crypto ecosystem.
Budgeting and Spending Control Features
Virtual cards enable users to set spending limits and control their budgeting directly through their mobile app. Beyond setting transaction caps, businesses can also restrict certain types of transactions, like online subscriptions, enhancing user control. Users can also monitor their transaction history to gain better insights into their spending habits.
With the crypto banking solutions, companies benefit from advanced security features, such as multi-factor authentication, encryption, and real-time fraud monitoring, ensuring each transaction is safe and secure.
Empowering a Crypto-Driven Lifestyle with a Virtual Card API
The true value of crypto is unlocked when users can spend it as easily as fiat currency. For example, users who receive their salaries in Euros can convert it to crypto and make everyday purchases directly. With the onramp service, users can add crypto to their account each month and make secure, direct payments with a virtual crypto card.
Here’s a breakdown of the virtual card issuance process:
- Account Creation: The user creates an account in their crypto app, completes KYC, and funds their account with cryptocurrencies of their choice.
- Virtual Card Order: The user orders a virtual card, which can be used for payments immediately upon issuance.
- Seamless Transactions: When the user swipes the card, the transaction is processed like any Visa or MasterCard transaction.
- Just-in-Time Funding: The card issuer initiates a Just-in-Time funding request, which is validated by the crypto app upon confirming the user’s crypto balance.
- Instant Fiat Release: Fiat funds are released, completing the transaction in real time.
With the virtual card solution, crypto businesses can empower users to embrace a truly crypto-forward lifestyle, simplifying payments, enhancing security, and increasing accessibility across the board.
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