Everything you need to know about virtual prepaid cards
Designed by Freepik
With the rise of digital payments, virtual prepaid cards have become an increasingly popular payment tool. According to Grand View Research, the global virtual card market size is estimated at around USD 19 billion in 2024 and is expected to grow to USD 60 billion by 2030, with a compound annual growth rate (CAGR) of 21.2%.
Unlike physical cards, virtual cards are 100% digital, offering high security and convenience. Whether for online shopping, short-term payments, overseas travel, or subscription services, virtual prepaid cards provide a simple payment experience while helping users manage their spending effectively.
This article will provide a detailed overview of what virtual prepaid cards are, how they work, their advantages as well as how Silkpay offers the top notch virtual prepaid card solutions to help you fully understand this innovative payment method.
What is a virtual prepaid card?
A virtual prepaid card is a purely digital payment card with no physical form, existing only in electronic format.
It is issued under authorization from international card networks such as Visa or Mastercard and carries the same core details as a physical card: a unique card number, expiration date, and security code (CVV).
Note💡: Its main feature is “load first, spend later.” Users must top up the card with funds in advance, and spending is limited to the available balance, with no overdraft option.
The differences compared to traditional bank cards are:
No bank account linkage: Not connected to a savings or credit account, funds are managed independently.
Non-credit nature: Works like a debit card, spending is strictly limited to the preloaded balance.
Quick issuance: Applied for online, with no need for physical card production or mailing, and usually activated within a few days.
How do virtual prepaid cards work?
The operation of virtual prepaid cards integrates three core elements: preloaded funds, independent account management, and international payment networks.
Before use, users must first load funds onto the card and can only spend the money available on it.
Virtual prepaid cards are completely independent of the user’s bank or credit accounts.
Users can make international payments easily without opening multiple bank accounts, while benefiting from the security and protection provided by payment networks like Visa or MasterCard.
Virtual prepaid cards offer a payment method that is both secure and flexible, so they're especially suitable for online transactions and short-term use.
Virtual prepaid card use cases
For online shopping on any platform (for example: Amazon, eBay, Shein or other), using a virtual card instead of your main card protects your primary account information.
Ideal for one-time or temporary payments, such as short overseas trips or quickly subscribing to paid services.
Perfect for ad spending, software subscriptions, or international travel payments, especially for platforms like ChatGPT or Google Ads that only accept international cards.
Suitable for teens or students; parents can top up the card to cover expenses. Individuals can also use it to manage subscriptions like Netflix or Spotify.
Why do you need a virtual prepaid card?
1. High security
Funds are managed independently. Even if the card number is stolen, losses are limited to the card balance, leaving your bank account unaffected. Features like “report transaction”, instant lock and unlock, or card cancellation allow immediate response to suspicious transactions.
2. Easy and quick card issuance
Apply online and get a ready-to-use card within a few days, no need to wait for physical card production or mailing. No proof of income is required, making it far more efficient than traditional credit cards.
3. Controlled spending
Funds must be loaded before spending. Transactions are limited to the card balance, which helps prevent overspending or debt.
4. Global acceptance
Accepted worldwide wherever Visa or Mastercard is supported, overcoming regional payment restrictions.
Virtual prepaid cards are not just abstract features, they provide real convenience and security in everyday scenarios. Whether it’s online shopping, subscriptions, or managing expenses, they are a smart and efficient payment solution.
Why choose a Silkpay virtual prepaid card?
1. Safe and reliable
Choosing a reliable provider that supports your selected card type (Visa or Mastercard) is essential.
Silkpay offers virtual prepaid cards for both Visa and Mastercard, allowing users to easily apply for and conveniently manage their cards online.
As a service provider that strictly complies with European regulations, Silkpay’s core advantages include strong fund security, high-quality customer support, and a smooth payment experience, enabling users to make international payments with confidence and efficiency.
2. Easy-to-apply
The registration process for a Silkpay virtual prepaid card is very simple. You only need to register an account with your email and provide basic information, such as a valid passport or European ID and a European Economic Area (EEA) address (for verification only; no physical card will be mailed).
After logging in, purchase the prepaid card of your choice (Visa or Mastercard), wait for the email containing your card information (it usually takes from 24 hours to a few days to arrive), top-up your card and start using it online.
3. Higher top-up and spending limits
You can top up your virtual prepaid card using a bank card, online banking, or other payment methods. Silkpay provides a daily top-up limit of €10,000 per card, fully covering your daily expenses and large purchases.
Each person can open up to three cards for multiple purposes, so you never have to worry about spending limits.
Top-up limits: daily €10,000, monthly €100,000, card balance €10,000
Spending limit: up to €10,000 per day
4. Simple management
You can check your virtual prepaid card’s balance, details and detailed transaction history in your account at any time, making it easy to track the flow and purpose of every expense.
If any suspicious transactions occur or you need to temporarily stop using the card, you can report the transaction directly from your account and lock it immediately, which ensures that every international payment is safe and reliable.
Conclusion
Virtual prepaid cards are not just a payment tool but also a convenient and secure method for managing finances. They use preloaded funds, independent account management, and international payment networks to provide users with a flexible payment experience, control spending, and prevent overdrafts, which adds real convenience and security to everyday life.
Silkpay offers both Visa and Mastercard virtual prepaid card options, so that users can make payments and plan and manage their daily funds more effectively.
About the author: Silkpay
Based in Paris, Silkpay provides omnichannel and secure payment solutions to help physical stores and e-commerce in Europe and the Americas accept more than 30 of the world's most popular payment methods: Visa, Mastercard, CB, UnionPay, Alipay+, WeChat Pay as well as Asia-Pacific’s major e-wallets.
Silkpay is a winner of the LVMH Innovation Award. The company was also selected as a finalist for the "Money 20/20" Best Startup and in the "MPE Berlin” Startup Awards. Silkpay also won the "Best Fintech" awards from Capgemini and BPCE.
Silkpay helps merchants deliver the smoothest payment experience to their customers. We are a talented and international team driven by a single goal: to improve the customer experience and make payments simple and secure.