Going digital is the new black, and MasterCard is here to make money a more mobile commodity. Nowadays, the word ‘digital’ has become a quotidian part of human life. From buying vegetables online to transferring savings digitally from one account to the other through online transactions, one can’t forego the fact that going digital is the only way to be relevant in contemporary times. The banking systems have evolved significantly, and credit and debit card owners have also decided to take their businesses online.
MasterCard is a global financial payments company based in the United States. Their main aim is to create an inclusive digital economy where all people can access the provisions for digitising transactions. There are currently 34 million stores that accept MasterCards globally, including digital cards. They have been introducing many innovations in their features. One such feature is the digital MasterCard.
According to the Global Outlook 2021 report, the world has changed its mode of payment to digital because digital transactions have peaked during the COVID pandemic. Another reason quoted in the report is the shift of priorities in eCommerce sites.
Online Mastercards are like real credit or debit cards, but they are available virtually, not physically. Like their physical counterparts, they have card numbers, expiry dates, and CVV numbers, and one needs to set PINs for them. The card will be delivered to the registered phone number or mail address. It has completely eradicated the need for physical contact during transactions, as contemporary times dictate. There are many online MasterCards: prepaid MasterCard, digital gift cards, and digital credit and debit cards.
How to Get Started With MasterCard
- First, you have to follow the necessary steps to activate your online MasterCard, just like a physical ATM card, but the process is very simple. Once the user receives the delivery message, they can easily activate that card at home. And unlike traditional physical cards, it doesn’t take more than a minute to get activated.
- After this, you must link the digital MasterCard to the mobile phone wallet to use it for daily activities.
- Like the physical card, one can change their PIN whenever they feel the need to do so.
And that’s it. The online card is all set for its use.
How to Use It
It is as simple as an online transaction payment. And one can use it in the stores to purchase anything, provided the store accepts MasterCard payments. Almost every store supports the MasterCard payment system. The only disadvantage is that one cannot withdraw hard cash through a digital credit card. You will also require a good internet speed to conduct the transactions smoothly.
The Benefits of an Online MasterCard
- It is versatile and can serve as an instant mode of payment.
- No one wants to load their purses with hot cash, so these digital cards will significantly lessen the fear of getting robbed.
- It is the safest card because, for every transaction, you need to enter the OTP number, which will be sent to your registered mobile number.
- One can limit credit transactions.
Digital cards are equipped with more customised options according to the person’s needs. One can even request a single-use digital MasterCard, which can be used for only one transaction. After that, that particular card will be deactivated on its own. In this way, one can protect their accounts from cyber fraudsters. It will also reduce plastic usage, which is good news any day!