As online transactions become more common in Africa, the need for virtual dollar cards has increased drastically. Virtual dollar cards allow people to make online transactions in foreign currencies without having a physical card.
In Nigeria for example, 3 out of 10 people either own online businesses or have subscriptions with a foreign company such as Apple, Google, etc. That shows the demand in dollars. However, there are limitations to how you can use the bank-provided local card which only dispenses in local currencies.
Due to its security, you would not be able to use it on any foreign website or app that charges in dollars. That is where the needs for virtual dollar cards come into play.
What are virtual dollar cards?
A virtual dollar card is a prepaid card that can be used to make online transactions in foreign currencies. Unlike physical cards, virtual dollar cards do not have a physical presence but are instead issued as a set of numbers that can be used to carry out transactions only online via websites or apps.
Virtual dollar cards are usually issued by banks or financial institutions such as fintech and can be funded using local currencies by transferring money from your local bank to prepay for your dollar card before spending. Just like the FXKudi virtual dollar card which came back recently, it helps you to pay over 30,000 merchants’ websites and apps.
Benefits of virtual dollar cards in Africa
The benefits of virtual dollar cards in Africa cannot be over-emphasized. It’s true that it is hot in demand due to the number of people who are internet savvy and rely solely on the power of the internet to earn a living. Some of the highest users are tech guys who have various software subscriptions, web hosting, domain services, etc.
However, here are some of the major benefits of virtual dollar cards in Africa you should know about.
- Access to global marketplaces
It is true that one of the benefits of virtual dollar cards in Africa is it possibility to access global marketplaces such as Amazon. Virtual dollar cards provide access to global marketplaces such as Amazon, eBay, and Alibaba. This allows Africans to purchase goods and services from international vendors that may not be available in their local market and make payments using 3D-secured security.
- Secure transactions
Virtual dollar cards are safer than traditional payment methods as they do not require the disclosure of personal financial information. The card numbers are used to complete the transaction.
You can block/freeze the card when you don’t have use for it or unfreeze it when you have needs which helps to reduce the risk of fraud and unauthorized debits.
Virtual dollar cards are cost-effective as they do not require physical infrastructure or maintenance costs. This makes them a more affordable option for people who need to carry out transactions in foreign currencies.
Multiple currency support: Virtual dollar cards support multiple currencies, which allows users to carry out transactions in different currencies without the need for currency conversion.
Again, FXKudi virtual dollar card is one of the cheapest and most affordable ones with zero monthly maintenance fees nor annual maintenance fees. You can create a card in seconds and start using it to transact.
Some virtual cards are pretty expensive as you would have to pay a monthly subscription fee before getting access to the card. But according to Property9ja blog post, FXkudi is currently offering the cheapest virtual dollar cards in Africa helping drive financial inclusion in the continent.
Virtual dollar cards are convenient as they can be funded instantly using local currency. This makes them a popular option for people who need to carry out transactions quickly and easily.
It helps you to be safe from unintended debts as you can control to only fund your card with the exact amount you need to make payments at the exact time and use it.
Virtual dollar cards offer flexibility as they can be used to carry out transactions on a variety of platforms including e-commerce websites, online marketplaces, and digital service providers.
One of the major flexibility is the fact that it can be carried anywhere and everywhere as all that might be required is to download an app on any phone and log in with your credentials or access through the provider’s official website.
Virtual dollar cards provide a cost-effective and secure way for Africans to carry out transactions in foreign currencies. With their access to global marketplaces, multiple currency support, and convenience, virtual dollar cards are becoming a popular option for people who need to transact online.
As the demand for online transactions continues to grow in Africa, virtual dollar cards will become an even more essential tool for people who need to transact in foreign currencies. If you need a good provider, then FXKudi virtual dollar card would be your best bet.