As EMV chip cards have increased in-store transaction security, fraud has shifted to online transactions. Tokenized virtual cards make it safer and more convenient for customers to spend online by allowing customers to limit where, when and how much can be spent on the card.
Financial institutions that have the ability to create a virtual card are much more likely to gain top-of-wallet status for online and recurring transactions. And because the virtual card is tokenized, you are protected in case of merchant data breaches.
Ondot’s industry-leading card controls and alerts give flexibility for how cards are used. Customers can create a card for a single purchase, or continue using the same card number at a specific merchant type. Spend limits and custom expiration dates give customers broad control for how their card is used.